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M&A Deal Summary

NRG Acquires Oswego Generating Station

On October 25, 1999, NRG acquired utilities company Oswego Generating Station from Niagara Mohawk Power and Rochester Gas & Electric for 85M USD

Acquisition Highlights
  • This is NRG’s 1st transaction in the Utilities sector.
  • This is NRG’s 10th largest (disclosed) transaction.
  • This is NRG’s 1st transaction in the United States.
  • This is NRG’s 1st transaction in New York.

M&A Deal Summary
Date 1999-10-25
Target Oswego Generating Station
Sector Utilities
Buyer(s) NRG
Sellers(s) Niagara Mohawk Power
Rochester Gas & Electric
Deal Type Divestiture
Deal Value 85M USD

Target

Oswego Generating Station

Oswego, New York, United States
Oswego Station is located on a 93-acre site in Oswego, New York, along the south shore of Lake Ontario. The facility consists of two, 850 MW oil-fired operating units and four retired units. One of the operating units is also capable of generating up to 150 MW utilizing natural gas.

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Buyer(S) 1

Buyer

NRG

Houston, Texas, United States
Category Company
Founded 1989
Sector Utilities
Employees15,637
Revenue 28.1B USD (2024)
DESCRIPTION
Entrance to an NRG office in downtown Houston, Texas.
Entrance to an NRG office in downtown Houston, Texas.

NRG is a wholesale power generation company. NRG engages in the ownership, development, construction, and operation of power generation facilities; the transacting in and trading of fuel and transportation services; and the trading of energy, capacity and related products in the US and select international markets. NRG was formed in 1989 and is based in Houston, Texas.

DEAL STATS #
Overall 1 of 16
Sector: Utilities M&A 1 of 7
Type: Divestiture M&A Deals 1 of 4
State: New York M&A 1 of 2
Country: United States M&A 1 of 15
Year: 1999 M&A 1 of 1
Size (of disclosed) 10 of 10
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-30 Landfill gas-to-energy power projects

United States

Landfill Gas Collection System is now operational, producing electricity onto the provincial grid, using landfill gas as the fuel source.

Sell -

Seller(S) 2

SELLER

Niagara Mohawk Power

Syracuse, New York, United States
Category Company
Founded 1937
Sector Utilities
DESCRIPTION

Niagara Mohawk Power distributes electricity to approximately 1.6 million customers and natural gas to about 600,000 customers in upstate New York.

DEAL STATS #
Overall 1 of 1
Sector: Utilities M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 1999 M&A 1 of 1
Size (of disclosed) 1 of 1
SELLER

Rochester Gas & Electric

Rochester, New York, United States
Category Company
Sector Utilities
DESCRIPTION

RG&E, a subsidiary of Iberdrola USA, serves 368,000 electricity customers and 305,000 natural gas customers in a nine-county region centered on the City of Rochester. Serves 368,000 electricity customers and 305,000 natural gas customers in a nine-county region centered on the City of Rochester.

DEAL STATS #
Overall 1 of 1
Sector: Utilities M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 1999 M&A 1 of 1
Size (of disclosed) 1 of 1
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