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New Deal


Announced

Constellation to acquire a 44% stake in Texas Nuclear Plant from NRG Energy for $1.75bn.

Financials

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Transaction Value£1,411m
Consideration TypeCash
Capital Owned-
Capital Bid For44%
EV/Sales-
EV/EBITDA11.7x
Share Price Premium-
One Off Charge-

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Friendly

United States

Single Bidder

Acquisition

Minority

Private

Infrastructure

power plant

Pending

Alternative Electricity

nuclear power

Domestic

Synopsis

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Constellation, operator of the nation’s largest fleet of reliable, carbon-free nuclear plants, agreed to acquire a 44% stake in Texas Nuclear Plant, a dual-unit nuclear plant located about 90 miles southwest of Houston, from NRG Energy, an American energy company, for $1.75bn. "The South Texas Project is an exceptionally well-maintained plant and its ability to produce resilient, carbon-free energy 24/7 makes it among the most valuable power sources in the world. With the potential to run for at least 46 more years with the right policy support, we look forward to working with the South Texas Project’s other owners to continue bringing clean, reliable electricity to this growing region for decades to come," Joe Dominguez, Constellation President and CEO.

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