Global Infrastructure Partners acquired NRG Energy Inc.’s for $1.375bn in cash.

Global Infrastructure Partners, a leading global, independent infrastructure investor, announced today that its third equity fund, Global Infrastructure Partners III, has agreed to acquire NRG Energy, Inc.’s integrated U.S. renewable energy platform, including its controlling stake and 46% economic interest in NRG Yield, Inc. as well as NRG’s renewable energy operations and maintenance and development businesses. GIP is acquiring the business for $1.375 billion in cash, subject to certain adjustments. In addition, GIP has agreed to provide backstop support for NYLD’s agreed purchase of the Carlsbad Energy Center project. The Transaction is subject to customary closing conditions and is expected to close in the second half of 2018.