Latest news with #LSPowerEquityAdvisors
E&E News
13-05-2025
- Business
- E&E News
NRG to double gas fleet amid power demand ‘supercycle'
NRG Energy will double its electricity generation by acquiring assets from LS Power Equity Advisors as the Houston-based power producer looks to meet what CEO Larry Coben calls a 'demand supercycle.' Through the $12 billion cash-and-stock acquisition announced Monday, NRG will add 18 gas-fired power plants with a total capacity of about 13,000 megawatts. The added natural gas generation builds on NRG's existing capacity in Texas and the Northeast. Data centers to run artificial intelligence programs, manufacturing and the electrification of homes and cars are pushing up demand, especially on the two power grids where NRG's bigger portfolio will largely function. Advertisement The Electric Reliability Council of Texas (ERCOT), which operates the grid for most of Texas, has forecast that peak demand will rise from 85 gigawatts in 2024 to as high as 218 gigawatts by 2031. Each gigawatt powers roughly 800,000 households.
Yahoo
12-05-2025
- Business
- Yahoo
NRG Energy Stock Soars as Q1 Results Handily Top Estimates
NRG Energy reported first-quarter adjusted earnings per share and revenue that topped Wall Street's expectations. The company also agreed to acquire a portfolio of natural gas assets for $12 billion from LS Power Equity Advisors. NRG led S&P 500 stocks higher in recent trading of NRG Energy (NRG) surged roughly 25% to lead the S&P 500 on Monday after the firm delivered better-than-expected first-quarter results. Separately, the company announced a $12 billion acquisition of natural gas assets from LS Power Equity Advisors. The company delivered adjusted earnings per share (EPS) of $2.68, more than 60% higher than the consensus of analysts polled by Visible Alpha. Revenue rose more than 15% year-over-year to $8.59 billion, also beating expectations. Looking ahead, NRG said it still expects full-year adjusted EPS of $6.75 to $7.75. The midpoint of the range is ahead of analysts' projected $7.15. Also Monday, NRG agreed to acquire a portfolio of natural gas assets from LS Power Equity Advisors in a $12 billion deal. NRG said the move doubles its generation capacity to about 13 GW by adding 18 natural facilities across nine states. The transaction is expected to close in the first quarter of 2026. NRG Energy shares have added nearly two-thirds of their value this year. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
