Kirkland & Ellis LLP Advises NRG Energy in Its Acquisition of Green Mountain Energy Company
Kirkland & Ellis LLP advised NRG Energy, Inc. (NYSE: NRG) in its acquisition of Green Mountain Energy Company, the nation's leading competitive retail provider of clean energy products and services. The transaction closed on November 5, 2010.
By combining with NRG, Green Mountain will be able to expand the scope of its green products and services and accelerate the pace of its expansion into attractive markets and market segments. Green Mountain will be run as a standalone business within NRG and will maintain its commitment to customers to make a difference for the environment.
The Kirkland team includes Washington, D.C. partners Elaine Walsh and Mitchell Hertz, with associates Karen Sheffler, Nichole Sweeney and Michael Cohen. Chicago partners Gregory Gallagher, Jeffrey Quinn and Neil Hirshman and associate Rebecca Piper, and New York partner Scott Price also assisted with the transaction.
About Kirkland & Ellis
Kirkland & Ellis is a 1,500-attorney law firm representing global clients in complex energy, litigation and dispute resolution/arbitration, private equity, corporate, restructuring, tax and intellectual property matters. The Firm has offices in Washington, D.C., Chicago, Hong Kong, London, Los Angeles, Munich, New York, Palo Alto, San Francisco and Shanghai.
About NRG Energy, Inc.
NRG Energy, Inc., a Fortune 500 and S&P 500 Index company, owns and operates one of the country's largest and most diverse power generation portfolios. Headquartered in Princeton, NJ, the Company's power plants provide more than 24,000 megawatts of generation capacity—enough to supply more than 20 million homes. NRG's retail business, Reliant Energy, serves more than 1.5 million residential, business, commercial and industrial customers in Texas. A past recipient of the energy industry's highest honors—Platts Industry Leadership and Energy Company of the Year awards -- NRG is a member of the U.S. Climate Action Partnership (USCAP), a group of business and environmental organizations calling for mandatory legislation to reduce greenhouse gas emissions.
About Green Mountain Energy Company
Green Mountain, the nation's leading competitive retail provider of cleaner energy and carbon offset solutions, was founded in 1997 "to change the way power is made." Green Mountain ranked highest in J.D. Power and Associates 2009 Texas Business Retail Electric Provider Satisfaction Study. Austin-based Green Mountain has residential and commercial customers primarily in Texas and the New York metro region. Green Mountain also delivers green products and services to select utilities, including Portland General Electric—ranked as the number one green utility program by the Department of Energy's National Renewable Energy Laboratory—as well as providers in New York and New Jersey. Green Mountain customers have collectively helped avoid over 11.3 billion pounds of carbon dioxide emissions.
