Texas Genco is a major power generation firm active in the deregulated Texas electricity market and owns several major power plants in the Houston area that serve area power needs.
stock of Texas Genco to our shareholders in late 2002 or early
2003.1
publicly-held interests in Texas Genco to GC Power Acquisition
LLC, an entity owned by investment funds affiliated with The
Blackstone Group, Hellman & Friedman LLC, 2
* 2006: Texas Genco is acquired.
Founded: 1989
NAIC: 221121 Electric Bulk Power Transmission and Control
Based in Princeton, New Jersey, NRG Energy, Inc.3
NRG TEXAS RETIREMENT PLAN FORMERLY TEXAS GENCO RETIREMENT PLAN is
a Defined Benefit Plan providing retirees with a predetermined
monthly retirement benefit upon reaching a specific age.4
- Some have questioned whether Texas GenCo and CenterPoint were truly
independent. The two companies shared almost all major executives and
over half the board.5
Cherokee was able to offer Texas Genco and the city of Webster an
attractive solution to an otherwise ongoing liability.6
Energy, Texas Genco and Valerus Compression Services. Other notable
TPG investments have included Alltel, Beringer Wine Estates, Burger
King, Caesars Entertainment, IMS Health, J.7
Friedman, KKR and Texas Pacific to sell Texas Genco for $5.8bn
Blackstone, Hellman Friedman, KKR and Texas Pacific to sell Texas
Genco for $5.8
Holding owns the stock of Texas Genco and CenterPoint Energy Houston
Electric, LLC ("T&D Utility").9
interests in Texas Genco to GC Power Acquisition LLC, an entity owned
by investment funds affiliated with The Blackstone Group, Hellman &
Friedman LLC, Kohlberg Kravis Roberts & Co. L.P.10
NRG and Texas Genco announced recently that FTC has granted the
termination of the antitrust waiting period under the
Hart-Scott-Rodino Act for the proposed acquisition by NRG of Texas
11
privately held power generator Texas Genco LLC for $5.8 billion, in a
deal that furthers consolidation in the electricity generation
industry.12
stock of Texas Genco (the "Texas Genco Stock"), in connection with the
refinancing of approximately $3.85 billion of CenterPoint debt
("CenterPoint Facility").13
Texas Genco Emission Reduction Results
W.A. Parish Emission Reductions
Unit 8 SO2 emissions reduced by ~80% (FGD system)
Coal-unit particulate emissions reduced by >99.14
Texas Genco to shareholders in 2003. Texas Genco filed an initial
public offering (IPO) in 2005; NRG Energy bought the company for $5.8
billion in 2006.15
Texas Genco turns power generating assets for huge profit
nrg_logo.16
Texas Genco, LLC from August 2005 to June 2006, and the Controller at
Particle Drilling Technologies, Inc. (PDRT.PK) from June 2006 to June
2009. Mr.17
Texas-based Texas Genco from a group of private equity firms for
roughly $5.9 billion.18
The firm is representing Texas Genco LLC in connection with the sale
of all of its outstanding equity interests to NRG Energy, Inc. (NYSE:
NRG) for approximately $5.825 billion, including $4.19
Company refer to NRG and Texas Genco on a combined basis, together
with their consolidated subsidiaries, after giving effect to the
completion of the acquisition of Texas Genco, or the Acquisition.20
Texas Genco is 81 percent owned by
Reliant spinoff CenterPoint Energy, which is trying to sell Texas
Genco.
The 3.21
Texas Genco is one of
the largest independent wholesale electric power generating companies
in the United States, selling electricity in the Texas wholesale power
22
Texas Genco now owns 44 percent of
STP, and CPS Energy owns 40 percent. The City of Austin continues to
own 16 percent of STP.23
Texas Genco’s earnings profile is likely to be more volatile
over time than our traditional businesses.24
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