$NRG · NRG ENERGY, INC.
NRG Energy entered a Purchase and Sale Agreement dated November 9, 2026, to sell equity interests in nine subsidiaries (including Ravenswood, Ocean State Power, and Wallingford Energy) to Orbit Acquisition Holdco, an LS Power affiliate. The aggregate purchase price is $4.0 billion in cash, subject to net working capital and other adjustments. The transaction is not subject to a financing condition, and closing is expected in 2027 pending HSR, FERC, and New York State Public Service Commission approvals.
- Purchase price is $4.0 billion in cash, subject to net working capital and other adjustments.
- Buyer is Orbit Acquisition Holdco, LLC, an affiliate of LS Power Equity Advisors.
- Transaction is not subject to a financing condition.
- Buyer pays a $200 million termination fee under certain breach or failure-to-close scenarios.
- End Date is May 9, 2027, extendable by up to two successive 90-day periods.
Price data unavailable.
A $4.0 billion asset divestiture reshapes NRG's generation portfolio and provides substantial cash proceeds, pending regulatory clearance.
Divestiture of legacy generation assets (Ravenswood, Ocean State) aligns with NRG's shift toward customer-focused retail and lower-carbon generation.
Closing requires HSR, FERC, and NYPSC approvals, which could be delayed, conditioned, or denied; termination risk exists if conditions are not met by the End Date.