NRG Closes on Sale of its South Central Business
PRINCETON, N.J.--(BUSINESS WIRE)--Feb. 4, 2019--
NRG Energy, Inc. (NYSE:NRG) has closed on the previously announced sale
of NRG South Central Generating LLC (South Central) to Cleco Corporate
Holdings LLC (Cleco) for $1 billion in cash, prior to adjustments
pursuant to the terms of the Purchase and Sale Agreement entered into on
February 7, 2018.
“The closing of the South Central transaction marks the achievement of
yet another fundamental milestone in our transformation,” said Mauricio
Gutierrez, President and Chief Executive Officer, NRG. “With the
majority of our asset sales program complete, we continue to focus on
capital allocation, cost excellence and margin enhancement across our
At NRG, we’re redefining power by putting customers at the center of
everything we do. We create value by generating electricity and serving
nearly 3 million residential and commercial customers through our
portfolio of retail electricity brands. A Fortune 500 company, NRG
delivers customer-focused solutions for managing electricity, while
enhancing energy choice and working towards a sustainable energy future.
More information is available at www.nrg.com.
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This communication contains forward-looking statements that may state
NRG’s or its management’s intentions, beliefs, expectations or
predictions for the future. Such forward-looking statements are subject
to certain risks, uncertainties and assumptions, and typically can be
identified by the use of words such as “will,” “expect,” “estimate,”
“anticipate,” “forecast,” “plan,” “believe” and similar terms. Although
NRG believes that its expectations are reasonable, it can give no
assurance that these expectations will prove to have been correct, and
actual results may vary materially. Factors that could cause actual
results to differ from those implied by the forward-looking statements
in this communication are set forth in the Company’s most recent Annual
Report on Form 10-K, quarterly and other periodic reports, current
reports and other filings with the Securities and Exchange Commission at www.sec.gov.
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.
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Source: NRG Energy, Inc.
Kevin L. Cole, CFA