White & Case advises NRG Energy on US$4 billion sale of six natural gas power generation assets to LS Power

Global law firm White & Case LLP is advising NRG Energy, a leading North American energy and home services company, on its entry into a definitive agreement to sell six natural gas-fired power generation facilities to LS Power, for a purchase price of US$4 billion, across Connecticut, New York, Rhode Island and Texas.

The six assets represent 4.9 GWs of generation across NYISO (Ravenswood), ISO-NE (Ocean State Power and Wallingford) and ERCOT (Jack County, Johnson County and R.W. Miller).

Upon completion, NRG will own and operate 20 GWs of generation capacity nationwide. This includes 10 GWs of generation in ERCOT, complemented by 10 GWs in PJM. By 2028, an additional 1.1 GWs is expected to be operational in ERCOT through NRG's remaining two Texas Energy Fund projects.

The White & Case team was led by M&A partners Thomas Christopher (New York) and Morgan Hollins (Houston), and included associates Dilara Erik, Anthony Mahler and Jon Bi (all in New York).

The team also included Debt Finance partners Eliza McDougall and Yehuda Rubel, and associates Thomas Boulger and Sonia Patel (all in New York); Capital Markets partners David Johansen and Rafael Roberti, and counsel Melinda Anderson (all in New York); Tax partner Neil Clausen and associate Kealan Hannes (both in Houston); Employment Compensation & Benefits partner Henrik Patel and associates Peter Shelburne (both in New York) and Tyrone Crawford (Washington, DC); Real Estate partner Eugene Leone (Chicago) and associate Anthony Norris (New York); Sustainability & Responsible Business partner Taylor Pullins (Houston) and associate Taylor Gillespie (New York); and M&A partner Erica Hogan (New York).

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