Constellation To Acquire NRG's 44% Stake In South Texas Project Electric Generating Station

(RTTNews) - Constellation (STZ, CBR.AX, STZ-B) announced it is acquiring NRG Energy Inc.'s 44 percent ownership stake in the South Texas Project Electric Generating Station, a nuclear plant. The deal is valued at $1.75 billion, with an effective purchase price of $1.4 billion. After the transaction, Constellation will be one of three owners with oversight of the South Texas Project Nuclear Operating Company, which will continue to operate the plant.

"The South Texas Project is an exceptionally well-maintained plant and its ability to produce resilient, carbon-free energy 24/7 makes it among the most valuable power sources in the world," said Joe Dominguez, CEO of Constellation.