NRG Energy to sell six power plants to LS Power for $4 billion
NRG•NRG Energy will sell six natural gas-fired power plants with a combined capacity of 4.9 gigawatts to LS Power for $4 billion in cash. The proceeds are expected to support $3 billion in share repurchases across 2026 and 2027 and a $3 billion debt reduction in 2027.
1. Plant sale and proceeds
NRG Energy said it would sell six natural gas-fired power plants with a combined capacity of 4.9 gigawatts to LS Power for $4 billion in cash. The assets are in New York, New England and Texas, and the deal is slated to close in the second quarter of 2027.
2. Capital plans and earnings
NRG said the proceeds will help support $3 billion in share repurchases across 2026 and 2027, including a $1 billion repurchase expected to begin before the end of the fourth quarter. It also plans to reduce debt by $3 billion in 2027 following the transaction. Third-quarter adjusted profit was $4.68 per share, up from $2.78 a year earlier.
3. Retained assets
NRG will retain its entire PJM portfolio and energy management company CPower, which it acquired from LS Power in January 2026.
