---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-008567"
form_type: "8-K"
ticker: "NRG"
cik: "0001013871"
company_name: "NRG ENERGY, INC."
filed_at: "2026-01-30T23:59:59+00:00"
generated_at: "2026-05-16T05:52:44.790129+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NRG closes $6.4B cash+stock+debt deal for 13 GW fleet & CPower from LS Power

## Summary
- Acquired 18 natural-gas plants (~13 GW) and CPower C&I VPP from LS Power; fleet now ~25 GW.
- Consideration: $6.4B cash, 24.25M NRG shares, and assumption of ~$3.2B debt.
- Funded with $1.25B secured notes, $3.65B unsecured notes (Oct 2025) and revolver borrowings.
- Assumed $1.5B Lightning 7.25% senior secured notes due 2032 and $1.75B term loan (SOFR+2.25%).
- Sellers get registration rights; 6-month lock-up on shares; voting trust restricts ownership below 10%.

## SEC filing metadata
- accession: 0001104659-26-008567
- form_type: 8-K
- ticker: NRG
- cik: 0001013871
- company_name: NRG ENERGY, INC.
- filed_at: 2026-01-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1013871/000110465926008567/0001104659-26-008567-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1013871/000110465926008567/tm264311d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-008567
- JSON: https://secwatch.observer/filing/0001104659-26-008567.json
- Plain text: https://secwatch.observer/filing/0001104659-26-008567.txt

## Source-grounded claims
- claim_id: 0122b3ef3077f8b7ddb43fa150542d22bac9c34e
  claim: NRG ENERGY, INC. completed an acquisition involving Lightning Power Holdings, LLC, Thunder Generation, LLC, CCS Power Holdings, LLC, Linebacker Power Development Funding, LLC (collectively, the Sellers) for $6.4 billion in cash, 24,250,000 shares of common stock, and assumption of approximately $3.2 billion of debt (closed 2026-01-30).
  evidence_excerpt: became indirect, wholly-owned subsidiaries of the Company. Subject to the terms and conditions of the Purchase Agreement, the purchase price for the Transaction consisted of (i) $6.4 billion in cash, subject to certain adjustments set forth in the Purchase Agreement (the “Cash Consideration”), (ii) an aggregate of 24,250,000 shares of common stock of the Company, par
  evidence_url: https://www.sec.gov/Archives/edgar/data/1013871/000110465926008567/0001104659-26-008567-index.htm
- claim_id: 8b8fff6c98a8f5374aa1a4d58ebc090932440280
  claim: NRG ENERGY, INC. entered into Registration Rights Agreement with the Sellers.
  evidence_excerpt: On the Closing Date, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with the Sellers, who received Stock Consideration (as defined below) in the Transaction
  evidence_url: https://www.sec.gov/Archives/edgar/data/1013871/000110465926008567/0001104659-26-008567-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.