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NRG sells 4850 MW gas and oil power generation

  • 3 years ago (2021-03-08)
  • Junior Isles
Gas engine plant 62

Mauricio Gutierrez, CEO of NRG, said the power plant sale is with Generation Bridge, a unit of the private equity firm ArcLight Capital Partners, involving eight plants spread over New York, Connecticut, and California. One New York and two California plants, with a total of 1704 MW, are natural gas-fired. The oil assets, including four in Connecticut, total 3145 MW. He said: “Many of these assets are at the end of their useful lives and are economically dependent on capacity markets. This is a good transaction for us, further streamlining our business.”

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The transaction is expected to close by the end of the year.

Gutierrez also called for a systemwide root cause analysis of the electric and natural gas response to the February freeze in Texas.