NRG Divesting $2.8 Billion in Assets Following Singer's Push [Bloomberg Business News]
NRG Energy, Inc. (NRG)
Last nrg energy, inc. earnings: 11/7 07:06 am
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Source: Bloomberg Business News
NRG Energy Inc. , the U.S. power generator prodded by billionaire investor Paul Singer to unload assets, agreed to $2.8 billion in divestitures in one of the largest-ever renewable energy deals. The linchpin: Global Infrastructure Partners agreed to pay $1.38 billion in cash for NRG’s renewable energy platform and a controlling stake in its publicly traded wind and solar company, NRG Yield Inc. , according to a statement Wednesday. Under the agreement, set to close in second half of 2018, GIP’s third equity fund would take a 46 percent stake in NRG Yield . NRG Energy also is selling power plants in Louisiana to Cleco Corporate Holdings LLC for $1 billion, and other assets to NRG Yield for $407 million. The agreements come more than a year after Singer’s Elliott Management Corp. and C. John Wilder’s Bluescape Energy Partners disclosed an activist stake in NRG and pressed it to cut costs and streamline operation
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NRG
News
- NRG Energy, Inc. (NYSE: NRG) had its price target raised by analysts at Morgan Stanley from $51.00 to $63.00. They now have an "equal weight" rating on the stock.MarketBeat
- NRG Announces Changes in Leadership [Yahoo! Finance]Yahoo! Finance
- NRG Announces Changes in LeadershipBusiness Wire
- SWIFT CURRENT ENERGY ANNOUNCES POWER PURCHASE AGREEMENT AND TAX EQUITY FINANCING FOR 260 MW SOLAR PROJECT IN TEXAS [Yahoo! Finance]Yahoo! Finance
- NRG Energy, Inc. (NYSE: NRG) had its price target raised by analysts at Wells Fargo & Company from $78.00 to $85.00. They now have an "overweight" rating on the stock.MarketBeat
NRG
Earnings
- 11/2/23 - Miss
NRG
Sec Filings
- 3/26/24 - Form 8-K
- 3/18/24 - Form 4
- 3/18/24 - Form 4
- NRG's page on the SEC website