NRG Completes Sale of its Interest in South Texas Project
01 Novembro 2023 - 10:53AM
Business Wire
Transaction unlocks significant shareholder
value by optimizing portfolio
NRG Energy, Inc. (NYSE: NRG) announced today its subsidiaries
Texas Genco LP LLC and Texas Genco GP LLC have completed the sale
of NRG South Texas LP, which owns a 44% interest in the South Texas
Project Electric Generating Station (STP), to Constellation for
$1.75 billion.
STP is a 2,645 MW nuclear facility located about 90 miles
southwest of Houston in Bay City, Texas. The 44% interest
represented approximately 1,100 MWs of output. The sale received
final regulatory approval from the Nuclear Regulatory Commission on
October 30, 2023.
“Completion of the sale is an important step in creating
shareholder value through optimizing our diversified power supply
portfolio,” said Mauricio Gutierrez, NRG President and Chief
Executive Officer. “This transaction will release significant
capital to fund our current share repurchase and debt reduction
programs. I look forward to updating stakeholders during our
November 2 earnings call.”
Barclays Capital Inc. and Morgan Stanley & Co. LLC are
serving as NRG’s financial advisors, and McGuireWoods LLP is
serving as legal counsel.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements are subject to certain risks, uncertainties and
assumptions and typically can be identified by the use of words
such as “expect,” “estimate,” “should,” “anticipate,” “forecast,”
“plan,” “guidance,” “outlook,” “believe” and similar terms.
Although NRG believes that the expectations are reasonable, it can
give no assurance that these expectations will prove to be correct,
and actual results may vary materially.
NRG undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. The
foregoing review of factors that could cause NRG’s actual results
to differ materially from those contemplated in the forward-looking
statements included in this news release should be considered in
connection with information regarding risks and uncertainties that
may affect NRG’s future results included in NRG’s filings with the
SEC at www.sec.gov.
About NRG
NRG Energy is a leading energy and home services company powered
by people and our passion for a smarter, cleaner, and more
connected future. A Fortune 500 company operating in the United
States and Canada, NRG delivers innovative solutions that help
people, organizations, and businesses achieve their goals while
also advocating for competitive energy markets and customer choice.
More information is available at www.nrg.com. Connect with NRG on
Facebook and LinkedIn, and follow us on X (formerly known as
Twitter), @nrgenergy.
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version on businesswire.com: https://www.businesswire.com/news/home/20231101642050/en/
Media: Pat Hammond Patricia.hammond@nrg.com
713.537.2157
Investors: Brendan Mulhern Investor.relations@nrg.com
609.524.4767
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