The deal includes the sale of Princeton-based NRG’s:
- Ownership in NRG Yield’s Class B and Class D shares;
- Renewable energy development and operations platform;
- Renewable energy non-ROFO blacklog and pipeline; and
- The NRG ROFO updated pipeline.
The transaction is expected to close in the second half of 2018.
NRG also announced Cleco Corporate Holdings LLC has agreed to purchase NRG’s South Central business for $1 billion, and NRG Yield has agreed to purchase NRG’s ROFO pipeline assets, which consist of the 527 MW Carlsbad Energy Center and the 154 MW Buckthorn Solar, for $407 million.
NRG said this brings its transformation plan asset sales to $2.9 billion, which includes approximately $150 of asset monetization closed in the second half of 2017.