NRG To Buy Green Mountain Energy For $350M

Law360, New York (September 16, 2010, 3:51 PM EDT) -- NRG Energy Inc., the U.S.'s largest independent power producer, will purchase clean energy retailer Green Mountain Energy Company for $350 million.

The acquisition will immediately boost NRG's annual earnings before taxes, depreciation and amortization by more than $70 million and bolster the company's capacity to produce sustainable energy, NRG said in a statement Thursday.

Green Mountain and NRG began merger negotiations in the spring, according to company spokeswoman Marci Grossman.

Customer contracts with Green Mountain will remain valid. "This acquisition will be seamless to customers," she...
To view the full article, register now.