Climate Changed
NRG Sale Draws Possible Suitors Including GIP, NextEra
- Power generator may announce deals as soon as this quarter
- NRG looking to sell stake in solar, wind farm owner NRG Yield
NRG
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Utility giant NextEra Energy Inc. and investment fund Global Infrastructure Partners are among at least seven companies looking into buying renewable energy assets from NRG Energy Inc., the U.S. power generator under pressure from billionaire investor Paul Singer to streamline.
Private equity firm Blackstone Group LP, GIC Pte, Borealis Infrastructure Management, John Hancock Life Insurance Co. and KKR & Co. are also considering bids, people familiar with the matter said, asking not to be identified because the process isn’t public. A transaction may still be months away, they said. NRG declined to comment. Its shares closed little changed at $24.39 on Thursday after jumping earlier to the highest level since May 2015.