Kirkland Counsels GenOn on its Agreement to Sell Choctaw facility to Entergy Mississippi

Kirkland & Ellis LLP advised NRG Wholesale Generation LP (NRGWG), a wholly owned indirect subsidiary of GenOn Energy, Inc., and GenOn Energy, Inc. (collectively with NRGWG, as GenOn), as guarantor, on its asset purchase agreement with Entergy Mississippi, Inc. Entergy agreed to buy all assets, real property and interests, except as excluded by the purchase agreement, owned, used or held by GenOn and its affiliates for use primarily in the operation of the Choctaw facility, a combined cycle, natural gas-fueled electrical generation plant with a capacity rating of approximately 800 megawatts. The closing purchase price is $314 million, subject to adjustment for the value of the inventory of the business and the outcome of performance tests of the facility determined as of the closing date. GenOn’s 8-K release is available here.

The Kirkland team was led by corporate partner Kim Hicks, Shubi Arora and Andrew Calder and associates Stella Tang and Gordon Cranner.