This week, NRG Energy Inc. announced that it will acquire a $12 billion portfolio from LS Power, doubling its generation capacity with 18 natural gas facilities and adding a leading commercial and industrial virtual power plant (C&I VPP) platform, including one in Troy, Ohio.

The deal, expected to close in early 2026, expands NRG’s footprint in the Northeast and Texas and is immediately accretive to earnings. NRG plans to return $9.1 billion to shareholders over five years. The acquisition supports growing energy demand—especially from data centers—and boosts NRG’s credit profile. LS Power retains about 10 GW in generation and transmission assets while gaining an 11% equity stake in NRG. 5/12/2025