Latham Advises on Financing for NRG Energy Inc.’s US$12 Billion Acquisition of Premier Power Portfolio From LS Power

NRG Energy Inc. (NYSE: NRG) and LS Power Equity Advisors, LLC have announced that they have entered into a definitive agreement under which NRG will acquire a portfolio of natural gas generation facilities and a commercial and industrial virtual power plant platform from LS Power in a cash and common stock transaction valued at approximately US$12.0 billion enterprise value. The acquisition is expected to close in the first quarter of 2026, subject to customary closing conditions and regulatory approvals.

Latham & Watkins LLP represents the financing sources in the transaction with a capital markets team led by partner Keith Halverstam and counsel Ryan deFord, with associates Robyn Sablove, Alex Gulino, and Jessmine Lee, and a banking team led by partners Dan Seale and Nicole Fanjul and counsel Kelly Egers, with associates Christian DeSimone and Alexandra Gershman. Advice was also provided on energy regulatory matters by associate Richard Griffin; and on environmental matters by counsel David Langer, with associate Brittany Curcuru.