White & Case advises NRG Energy, Inc. on US$12 billion acquisition of power portfolio from LS Power

Global law firm White & Case LLP is advising NRG Energy, Inc. (NYSE:NRG), a leading North American energy and home services company, on its approximately US$12 billion acquisition of a portfolio of natural gas generation facilities and a commercial and industrial virtual power plant (C&I VPP) platform from LS Power. The consideration for the acquired assets will consist of cash and NRG common stock.

This acquisition doubles NRG's generation capacity with the addition of 18 natural gas-fired facilities across nine states, totaling approximately 13 GW and expanding NRG's generation footprint in the Northeast and Texas, where most of its load is located.

In addition, NRG is acquiring CPower, a leading C&I VPP platform. CPower operates in all the country's deregulated energy markets and has approximately 6 GW of capacity representing more than 2,000 commercial and industrial customers.

The White & Case M&A team was led by partner Thomas Christopher, and included partners Keith Hallam (both in New York) and Morgan Hollins (Houston) with associates Dilara Erik (New York), Anil Tanyildiz, Luis Leos (both in Houston) and Jennifer Chu (New York). The financing on the matter was led by Debt Finance partner Eliza McDougall and Capital Markets partner Daniel Nam (both in New York). Capital Markets partner David Johansen (New York) led on matters relating to the shares of NRG common stock to be issued to LS Power as partial consideration for the acquired assets.

The White & Case team also included Real Estate partner John Cahill (New York), counsel Amy Kurland (Chicago) and associates Weldon Burrow, Anthony Norris, Julia Garcez (all in New York), Teddy Miller (Houston), Reilly Gaertner and Cynthia Gu (both in Chicago); Capital Markets partners Tami Stark (New York) and Victor Mendoza (Miami), counsel Melinda Anderson and associates Joanna Heinz (both in New York) and Annie Serafim (Boston); Derivatives partner Ian Cuillerier (New York); Sustainability & Responsible Business partner Taylor Pullins (Houston); Employment Compensation & Benefits partner Henrik Patel (New York) and associates Tyrone Crawford (Washington, DC) and Peter Shelburne (New York); Tax partners Neil Clausen (Houston) and Scott Fryman (New York) and associate Kealan Hannes (Houston); Data, Privacy & Cybersecurity partner Hope Anderson (Los Angeles) and associate Yuhan Wang (Silicon Valley); Litigation partner Andrew Hammond and associates Chloe Edmonds and Edred Richardson (all in New York); Technology Transactions partner Arlene Arin Hahn and associates Jarrah Al-Buainain and Temi Ajibode (all in New York); Construction partners Peter Berg and David Strickland (both in Houston); Project Development and Finance partner Serena Rwejuna (Washington, DC) and associates Jackie Triggs (Washington, DC), Clarissa Lotson (New York) and Adam Morris (Houston); M&A associates Henry An, Taylor Gillespie (both in New York), Prena Sachdeva, Gabriele Josephs, John Wiener, (all in Houston), Olivia Danner, Anna Hile, (both in Chicago) and Tyree Harriott (Los Angeles); White Collar associate Abigail Mahoney (Boston); and Debt Finance associates Arthur Nahas and Jessy Van Kooten (both in New York).

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