NRG•NRG Energy agreed to sell nine subsidiaries to Orbit Acquisition Holdco, an LS Power Equity Advisors affiliate, for $4 billion in cash, subject to adjustments. The deal is expected to close in 2027, pending regulatory approvals and other customary conditions.
NRG Energy signed the purchase agreement on November 9, 2026. The $4 billion cash price is subject to working capital and other adjustments, and the transaction has no financing condition.
Closing is expected in 2027, subject to regulatory approvals and customary conditions. The May 9, 2027, termination deadline may be automatically extended by up to two successive 90-day periods in certain circumstances; the buyer must pay a $200 million termination fee in specified cases.
