June 4 NRG Energy Inc is close to a deal worth more than $800 million to buy Alta Wind Energy Center, the largest wind farm in North America, the Wall Street Journal reported citing people familiar with the matter.
The deal could be announced as soon as Wednesday, the paper reported citing the people. (r.reuters.com/dyz79v)
Tehachapi, California-based Alta Wind is owned by Terra-Gen Power, an affiliate of private-equity firms Global Infrastructure Partners and Arclight Capital Partners.
In December 2013, NRG Energy announced its intention to close down two of its coal-fired power plants in Maryland due to tightening air emission regulations.
On Tuesday, the Environmental Protection Agency unveiled new regulations that require the U.S. power sector to cut carbon dioxide emissions by 30 percent by 2030. The regulation could transform the sector that relies on coal for nearly 38 percent of electricity generation.
NRG Energy and Terra-Gen Power could not be immediately reached for comment outside regular U.S. business hours. (Reporting By Narottam Medhora and Ankush Sharma in Bangalore; Editing by Gopakumar Warrier)