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FERC clears NRG Energy's sale of renewable assets

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)