NRG sells six gas-fired plants to LS Power for $4B in cash

NRG Energy agreed to sell six natural gas generation facilities totaling 4.9 GW across Connecticut, New York, Rhode Island and Texas to LS Power for $4 billion in cash, an implied 8.0x 2027 EV/adjusted EBITDA. The deal is expected to close in 2027, subject to regulatory approvals.

Why it matters: Together with its pending Constellation purchase, the deal lifts LS Power's gas fleet from 2.2 GW to 11.5 GW as buyers chase firm, dispatchable power amid surging demand.