NEW YORK: NRG Energy Inc announced on Sunday the purchase of Texas Genco Holdings Inc for US$5.8bil in cash and stock, in a deal that would nearly double the merchant power producer's asset base and give it entry to the growing Texas wholesale electricity market.
The deal may also spark a new round of consolidation among merchant energy producers, which are still recovering from a late 2001 credit crunch that drove several large independent power producers, including NRG, into bankruptcy.
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