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NRG Completes Sale Of Its Interest In South Texas Project Nuclear Plant To Constellation
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NRG Energy, Inc. announced today that its subsidiaries Texas Genco LP LLC and Texas Genco GP LLC have completed the previously announced sale of NRG South Texas LP, which owns a 44% interest in the South Texas Project Electric Generating Station (STP), to Constellation for $1.75 billion
STP is a 2,645 MW nuclear facility located about 90 miles southwest of Houston in Bay City, Texas. The 44% interest represented approximately 1,100 MWs of output. The sale received final regulatory approval from the Nuclear Regulatory Commission on October 30, 2023.
Constellation noted, "On August 1, 2023, Constellation and CEG reported that the City of San Antonio, Texas, acting by and through the City Public Service Board of San Antonio ('CPS'), filed a lawsuit claiming the existence of a right of first refusal that applied to the transaction contemplated by the Equity Purchase Agreement. Austin Energy intervened in the lawsuit claiming a similar right of first refusal. The ongoing legal proceeding did not prohibit NRG and CEG from consummating the transaction, and Constellation is working with all parties to reach a resolution to the matter."
In a news release discussing its other operations in Texas, Constellation reported that it also is a supplier in Texas’ competitive retail energy market, "supplying electricity, natural gas, energy efficiency and other services to approximately 200,000 residential and commercial customers statewide."
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Reporting by Paul Ring • ring@energychoicematters.com
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