Edison Mission Energy $2.64 billion sale of assets to NRG completed

By Caroline Salls

Pittsburgh, April 1 - Edison Mission Energy's $2.64 billion sale of substantially all of its assets to NRG Energy, Inc. has been completed, according to an NRG news release.

NRG said the addition of Edison Mission's nearly 8,000 megawatts brings it total fleet to more than 53,000 MW of generating capacity, the second largest in the United States.

The addition of Edison Mission's wind capacity, combined with NRG's existing wind and solar facilities, further diversifies NRG's renewable portfolio, the release said.

NRG said it also completed the $165 million acquisition of Dominion Resources, Inc.

With the closing of these two transactions, NRG said it advances its overall strategy of enhancing its generation fleet, expanding its retail business and growing its green portfolio.

The closing of the Edison Mission and Dominion sales comes on the heels of NRG's acquisition of Roof Diagnostics Solar.

"Closing this trio of acquisitions in the past week materially enhances our capabilities and our economies of scale in all of our key business areas," NRG president and chief executive officer David Crane said in the release.

Edison Mission, a Santa Ana, Calif.-based owner, operator and leaser of a portfolio of electric generating facilities, filed for bankruptcy on Dec. 17, 2012 in the U.S. Bankruptcy Court for the Northern District of Illinois. Its Chapter 11 case number is 12-49219.

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