On March 12, 2025, NRG Energy Inc. entered into a definitive agreement to acquire six power generation facilities from Texas-based Rockland Capital, LLC. This acquisition will add 738 Megawatts (MW) of modern, flexible natural gas-fired capacity to NRG’s portfolio.
The acquisition price is $560 million, or $760 per kW, which NRG states is significantly below the cost of new construction. This move is designed to strengthen NRG’s position in the rapidly growing Texas energy market, which is experiencing increased demand from electrification, industrial expansion, population growth, and data centers.
The transaction, which includes one combined-cycle unit and five peaker units, is expected to be earnings-accretive and will be primarily funded through corporate debt without impacting the company's stated capital allocation plan. It is subject to Hart-Scott-Rodino (HSR) regulatory approval and is anticipated to close in the second quarter of 2025.
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