The Federal Energy Regulatory Commission authorized NRG Energy Inc. to sell its renewable energy business, including NRG Yield Inc., to private equity investor Global Infrastructure Partners.
Under the transaction, a Global Infrastructure Partners affiliate will purchase Zephyr Renewables LLC, which includes NRG Yield and NRG Renew among its holdings. NRG Renew owns development and operations platforms consisting of a pipeline of more than 6,000 MW of backlog and development power projects. Approximately $1.38 billion is expected to exchange hands in the transaction.
The commission also authorized NRG Yield to purchase the 527-MW Carlsbad Energy Center from another NRG Energy subsidiary. The sale is part of NRG Energy's strategic restructuring, which the company signaled in 2017. (FERC docket EC18-61)
