On Wednesday, NRG Energy, Inc. (NYSE:NRG) disclosed that it inked definitive deal to acquire six power generation facilities from Texas-based Rockland Capital, LLC. for $560 million or $760 per kW.

The company said that the purchase price is significantly below the cost of new construction. The deal will further boost NRG’s presence in the energy market.

This acquisition adds 738 MW of flexible natural gas-fired capacity, including one combined-cycle unit and five peaker units.

The buyout is projected to be earnings-accretive and expected to be primarily funded through corporate debt.

The acquisition, which is subject to Hart-Scott-Rodino (HSR) regulatory approval, is expected to conclude in the second quarter of 2025.

Robert J. Gaudette, Executive Vice President, President of NRG Business and Wholesale Operations, stated, “Expanding our natural gas generation portfolio with modern, flexible assets enhances our integrated platform as Texas experiences record electricity growth driven by electrification, onshoring, population growth, and data centers – creating long-term value for our shareholders.”

The company also announced a $2.5 million investment in Equilibrium Energy to enhance market intelligence and address grid volatility caused by load growth, renewables, and extreme weather.

As of Dec. 31, NRG’s unrestricted cash was $1.0 billion, and $4.5 billion was available under the credit facilities.

Investors can gain exposure to the stock via SPDR Galaxy Transformative Tech Accelerators ETF (NASDAQ:TEKX) and Northern Lights Fund Trust IV Inspire Momentum ETF (NYSE:GLRY).

Price Action: NRG shares are down 0.29% at $92.20 premarket at the last check Thursday.

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This article NRG Energy's $560 Million Acquisition Adds 738 MW of Flexible Gas-Fired Power: Details originally appeared on Benzinga.com

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