Nrg Energy Inc. - NRG STOCK NEWS

NRG Energy (NYSE: NRG) has announced its Board of Directors has declared a quarterly dividend of $0.44 per share on the Company's common stock. This equates to $1.76 per share on an annualized basis. The dividend will be paid on May 15, 2025, to stockholders who are recorded as of May 1, 2025.

NRG Energy (NYSE:NRG) announced that Rasesh Patel, President of NRG Consumer, will retire effective May 19, 2025. Patel, who joined NRG in March 2023 following the Vivint Smart Home acquisition, will remain available in an advisory role after his retirement. The company expects to name his successor during the second quarter.

Under Patel's leadership, NRG successfully integrated Vivint and home energy platforms into a unified Consumer platform. His tenure was marked by the development of a first-of-its-kind residential virtual power plant (VPP) offering, combining smart home technologies with energy solutions. Patel expanded his role in March 2024 to lead all of NRG's Consumer businesses, including Home Energy and Smart Home divisions.

NRG Energy (NYSE:NRG) has announced a definitive agreement to acquire six power generation facilities from Rockland Capital, for $560 million ($760 per kW). The acquisition adds 738 Megawatts of modern natural gas-fired capacity to NRG's Texas portfolio, including one combined-cycle unit and five peaker units.

The portfolio is approximately 50% hedged through 2028, with projected annual Adjusted EBITDA of $50-60 million through 2028 based on 2025 guidance power price assumptions (~$47/MWh ATC). The unhedged position implies annual Adjusted EBITDA of $70-80 million. The transaction, which is earnings-accretive, will be primarily funded through corporate debt without impacting NRG's capital allocation plan.

The acquisition is pending Hart-Scott-Rodino regulatory approval and is expected to close in Q2 2025.

NRG Energy has announced a $2.5 million investment in Equilibrium Energy, an AI-powered energy technology platform focused on portfolio optimization. This strategic investment aims to enhance market intelligence and address grid volatility challenges caused by load growth, renewable generation, and extreme weather events.

The investment is made through NRG's new corporate venture capital fund, which has a total size of $50 million to be deployed over 5-7 years. The fund will target early- and mid-stage companies with initial investments ranging from $0.5 million to $2.5 million, maintaining reserves for follow-on investments. Cerity Partners Ventures will assist in managing the fund, which focuses on supporting innovation in energy and smart home industries.

NRG Energy (NYSE:NRG) has partnered with GE Vernova (NYSE: GEV) and Kiewit's subsidiary TIC in a strategic venture to accelerate new electricity generation capacity, addressing growing demand from computing power and generative AI.

The collaboration will initially focus on advancing four projects totaling over 5 gigawatts (GW) of new natural gas combined cycle power plants for the ERCOT & PJM markets. The first 1.2GW project, featuring two 7HA gas turbines from GE Vernova, is scheduled to begin commercial operation in 2029, with subsequent projects planned through 2032.

The venture combines NRG's power generation expertise (13GW capacity), GE Vernova's equipment manufacturing capabilities, and Kiewit's EPC experience. The model is scalable with potential to expand to 10-15GW across the U.S.

NRG Energy reported strong financial results for full year 2024, with GAAP Net Income of $1.1 billion and Adjusted EPS of $6.83, exceeding raised guidance. The company achieved $3.8 billion in Adjusted EBITDA and $2.1 billion in Free Cash Flow before Growth.

Key developments include:

• A Project Development Agreement with GE Vernova and Kiewit to develop up to 5.4 GW of new gas-fired generation (2029-2032)
• Letters of Intent with data center developers targeting 400 MW initial phase
• $1.263 billion returned to shareholders through $925 million in share repurchases and $338 million in dividends
• Smart Home segment showed 5% net subscriber growth with 90% retention rate

NRG reaffirmed its 2025 guidance with Adjusted EPS of $6.75-$7.75 and announced an 8% increase in quarterly dividend to $0.44 per share.

NRG Energy (NYSE:NRG) has announced its partnership with the FIFA World Cup 26 Houston™ Host Committee, bringing seven international soccer matches to NRG Stadium. As part of this collaboration, Reliant, an NRG company, will host youth soccer clinics with RISE Soccer Club, featuring former U.S. Men's National Team player Clint Dempsey.

The partnership aims to promote soccer development in Houston and engage the local community. NRG will participate in Houston FIFA Fan Festival celebrations, showcasing green initiatives and promoting environmental awareness. Notably, the seven soccer matches at the host stadium will be powered by renewable energy, aligning with both NRG's and the World Cup Houston Committee's commitment to sustainability.

NRG Energy (NYSE:NRG) has announced it will release its full year and fourth quarter 2024 financial results on Wednesday, February 26, 2025. The company will host a conference call and webcast at 9:00 a.m. EST (8:00 a.m. CST) to present the results.

A press release containing the financial results will be published before the conference call and will be accessible on the company's website. Investors can access the live webcast and presentation materials through the investor relations section of NRG's website. A replay option will be available for those unable to attend the live presentation.

NRG Energy (NYSE: NRG) has announced its Board of Directors' declaration of a quarterly dividend of $0.44 per share, equivalent to $1.76 per share annually. This represents an 8% increase from the previous year, aligning with the company's target annual dividend growth rate of 7-9% per share. The dividend will be paid on February 18, 2025, to stockholders of record as of February 3, 2025.