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NRG Energy to Buy CA Power Co. for $2.6B

WEST WINDSOR, NJ-A Princeton based powerhouse electric company is acquiring a bankrupt California coal and wind producer and in the process will become one of the country's largest renewable energy providers.

By Antoinette Martin | Updated on October 19, 2013

WEST WINDSOR, NJ-NRG Energy Inc., which is already the country’s biggest independent electricity producer, is buying a bankrupt California company for $2.64 billion in order to increase its coal and wind holdings. NRG has its national is headquarters here just outside Princeton.

NRG will acquire Edison Mission Energy of Santa Ana, in exchange for 12.7 million of its shares valued at $350 million and approximately $1.06 billion cash, the company said in a statement issued Friday.  NRG also will assume non-recourse debt of approximately $1.54 billion.

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