NRG Energy to sell two power plants for $138 million

natural gas fired plant nov 3 elp

As part of its asset rebalancing program, NRG Energy has agreed to sell two of its power plants: the 525 MW Seward power plant in New Florence, Pennsylvania and the 352 MW Shelby County power plant in Neoga, Illinois.

“NRG is focused on maintaining a robust presence and balance through conventional generation assets that complement each other in respect to geography, technology and smart fuel diversity,” said David Crane, CEO NRG. “By streamlining our fleet, we can create additional value for our shareholders and meet the needs of our customers with reliable, efficient and economic power. This is part of our ongoing and deliberate strategy of portfolio optimization.”

The Seward facility, which is located in the PJM Interconnection, is being acquired by Seward Generation, a Robindale Energy Services Inc. company. As part of the sale agreement, NRG Energy Services will provide operations and maintenance services to the Seward plant on behalf of Robindale Energy using the current NRG workforce.

The Shelby County facility, which is located in the MISO Interconnection, is being acquired by an affiliate of Rockland Capital. The station is a 352 MW natural gas-fueled, simple-cycle combustion turbine peaking plant with eight General Electric LM6000 aero-derivative combustion units.

“Operating a diverse generation fleet is a key component of NRG’s continued success in every region in which we operate,” said Mauricio Gutierrez, COO NRG. “As part of our asset optimization initiative, we’ve identified a few specific facilities that would be better suited in other hands in markets where we can transact at good value while avoiding future capital expenditures.”

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