PRINCETON, N.J. and SANTA ANA, Calif.--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) and Edison Mission Energy (EME) today jointly announced that the Federal Energy Regulatory Commission (FERC) has approved the previously announced sale of substantially all of EME’s assets to NRG.
The acquisition of EME’s portfolio of renewable and conventional generation assets will create the second-largest US power company with enough capacity to support nearly 48 million American homes. EME will add nearly 8,000 megawatts (MW) of generating capacity to the combined company’s diverse portfolio of both conventional and wind generation facilities.
Additionally, NRG will become the third-largest US-based renewable energy generator with an industry-leading wind and solar portfolio. The addition of the assets demonstrate the company’s continued commitment to renewables.
The FERC approval represents the final regulatory authorizations required to close the transaction and parties expect to close the transaction on April 1, 2014.
NRG is leading a customer-driven change in the U.S. energy industry by delivering cleaner and smarter energy choices, while building on the strength of the nation’s largest and most diverse competitive power portfolio. A Fortune 500 company, we create value through reliable and efficient conventional generation while driving innovation in solar and renewable power, electric vehicle ecosystems, carbon capture technology and customer-centric energy solutions. Our retail electricity providers – Reliant, Green Mountain Energy, Energy Plus and NRG Residential Solutions – serve more than 2 million residential and commercial customers throughout the country. More information is available at www.nrgenergy.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy.
About Edison Mission Energy
With headquarters in Santa Ana, Calif., and offices in Chicago and Boston, Edison Mission Energy companies own, operate and lease a portfolio of more than 40 electric generating facilities that are powered by wind, natural gas and coal, as well as an energy marketing and trading operation.