NRG Energy Bets on Future of Gas With $12 Billion LS Deal

NRG Energy Inc. agreed to acquire a fleet of natural gas-fired power plants from LS Power Equity Advisors LLC for about $12 billion including debt, betting the fuel will be crucial to meet electricity demand from data centers.

The cash-and-stock deal calls for NRG to buy 18 gas-fired facilities from LS with a combined capacity of about 13 gigawatts, the companies said Monday in a statement. That’s enough to power about 10.4 million homes.