NRG Unit Pays $120M For Neb. Thermal Energy Firm

Law360, New York (December 3, 2013, 5:54 PM EST) -- A unit of New Jersey-based power giant NRG Energy Inc. said Tuesday that it will pay $120 million in cash for a privately held company that provides heating and cooling services to customers in Omaha, Neb., via an underground pipeline network.

For NRG Yield Inc., the acquisition of Energy Systems Co. is its first third-party acquisition since it went public in July as a wholly owned subsidiary of NRG. The company says the ESC purchase will be made with cash on hand and will be debt-free....
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