NRG Energy Completes Acquisition of 13 GW of Power Generation and C&I VPP Portfolio from LS Power

Key Terms

virtual power plant technical

A virtual power plant is a software-driven system that links many small energy sources — such as rooftop solar panels, home batteries and flexible electricity use — and operates them together as if they were one larger power station. For investors, it matters because it can turn scattered assets into a reliable revenue stream and reduce costs for energy providers, much like organizing many individual taxis into a single fleet that can be dispatched efficiently to meet demand and earn steady fees.

vpp technical

A virtual power plant (VPP) is a network of distributed energy resources — such as rooftop solar, home batteries, electric vehicle chargers, and small generators — that are coordinated by software to act like a single power station. Investors care because VPPs can create new revenue streams and cost savings by selling capacity, balancing the grid, and avoiding expensive infrastructure upgrades, much like pooling many spare rooms into a rentable hotel can unlock steady income and efficiencies.

demand response technical

Demand response is a program or market mechanism where electricity users are paid or incentivized to reduce or shift their power use when the grid is stressed or prices are high, similar to turning down nonessential appliances during a heat wave to ease a traffic jam. It matters to investors because it can lower peak energy costs, affect utility revenues and market prices, and create opportunities for companies that provide the software, equipment, or services that enable those load changes.

Transaction doubles NRG’s generation capacity and demand-side capabilities to better serve homes and businesses amid rising energy needs.

HOUSTON--(BUSINESS WIRE)-- NRG Energy, Inc. (NYSE: NRG) today announced that it has completed the acquisition of a portfolio of generation assets and CPower from LS Power. The transaction strengthens NRG’s platform to deliver reliable and affordable energy and flexible demand solutions as load growth continues.

The acquisition includes 18 natural-gas-fired generation facilities totaling approximately 13 GW of capacity, along with CPower’s commercial and industrial virtual power plant (C&I VPP) platform. Together, the assets double NRG’s generation fleet, enabling the Company to better provide affordability and grid reliability across its core markets.

"Today, we are doubling down on power generation to respond to the incredible power demand supercycle," said Larry Coben, NRG Chair & Chief Executive Officer. "This transaction builds on our leading platform and enables NRG to offer an ever-broader range of affordable, resilient solutions for customers of all sizes, from data centers to households. We are putting scale and reliability to work to deliver for the eight million customers we serve every day."

With the transaction complete, NRG’s generation fleet now totals approximately 25 GW, supported by expanded demand response and VPP capabilities. This combination further strengthens NRG’s ability to serve residential, commercial, and large load customers with dependable power and innovative energy solutions.

About NRG
NRG is a leading provider of electricity, natural gas, and smart home solutions to eight million customers across North America. The company operates a customer‑first platform supported by a diversified supply strategy and the safe, reliable operation of approximately 25 GW of power generation. NRG plays a meaningful role in dependable and competitive energy markets and our innovative team is creating the flexible and affordable solutions that households and large businesses need today and in the future. Visit nrg.com for more information, and connect with us on Facebook, Instagram, LinkedIn, and X.

Forward-Looking Statements
This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations, or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions; hazards customary in the power industry; risks associated with integrating the assets acquired from LS Power; and the other risks and uncertainties detailed in NRG’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC at www.sec.gov.

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Source: NRG Energy Inc.