Seven firms interested in buying NRG Energy renewable assets

oklahoma wind elp may 23

At least seven electric utilities or holding companies are making overtures to NRG Energy to buy up the New Jersey-based energy company's renewable energy assets.

The parties include NextEra Energy, KKR & Co., Blackstone Energy Group, Borealis Infrastructure Management, John Hancock Life Insurance and Global Infrastructure Partners, according to Bloomberg.

Last month, NRG announced plans to raise up to $4 billion through asset sales to help address its debts, cut costs and generate profits, according to the Associated Press.

NRG has lost more than $7 billion over the last two years.

Billionaire investors Paul Singer and C. John Wilder bought stakes in the company and are pressuring it to keep costs low.

Among other assets, NRG could sell off a group of power plants in Louisiana.

Bloomberg reported that some buyers were only interested in part of the portfolio, but that they might join up with other suitors to purchase more of it.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs