Electric Utilities M&A » By The Online Investor Staff, updated Tue., Apr. 16, 7:13 AM
Recent mergers and acquisitions in the Electric Utilities M&A category.
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Slide #29. NRG Energy, Inc. — Corpus Christi, Texas Cogeneration Plant
Acquirer:
NRG Energy, Inc. (NYSE:NRG)
Acquiree:
Corpus Christi, Texas Cogeneration Plant
Details:
NRG Energy, Inc. (NYSE:NRG), has closed on the acquisition of the Gregory cogeneration plant in Corpus Christi, Texas. The cogeneration plant is equivalent to an approximately 560 megawatt (MW) Combined Cycle Gas Turbine plant with generation capacity of approximately 400 nominal MW and steam capacity of more than a million pounds per hour (160 MW of electricity equivalent). NRG is paying approximately $244 million in cash for the plant, exclusive of adjustments relating to working capital. Counting both electrical generation and steam production, this cost equates to approximately $436 per kilowatt.
NRG Energy is a consumer services company. Co. is engaged in producing and selling energy and related products and services. Co. sells power, natural gas, and home and power services, and develops sustainable solutions, under the brand names NRG, Reliant, Direct Energy, Green Mountain Energy, Stream and XOOM Energy. Co.'s segments are: Texas, which includes all activity related to customer, plant and market operations in Texas, other than Cottonwood Generating Station; East, which includes all activity related to customer, plant and market operations in the East; and West/Services/Other, which includes all activity related to customer, plant and market operations in the West and Canada.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 27th percentile
(ranked lower than approx. 73% of all stocks covered)
Analysts' Target Price: NRG Stock Forecast Based on Zacks ABR data; powered by Xignite |
