Overview

• NRG Energy will acquire 18 natural gas power plants from LS Power, adding 13 GW of capacity and doubling its gas-fired generation output.
• The $12 billion cash-and-stock deal also includes the CPower demand-response platform to enhance grid flexibility and reliability.
• The acquisition expands NRG’s footprint across nine states, with significant growth in Texas and the Northeast.
• The move addresses a projected 1.7% annual increase in electricity demand through 2050, fueled by AI data centers and manufacturing reshoring.
• The deal is expected to close in the first quarter of 2026, with LS Power retaining a minority equity stake and limited voting rights in NRG.