NRG Said to Seek Debt to Build Southern California Power Plant
- Carlsbad gas plant will replace Encina Generating Station
- NRG said to be seeking to borrow as much as $600 million
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NRG Energy Inc., the biggest U.S. independent power producer, is seeking to borrow money for a natural gas-fired power plant in southern California, according to two people familiar with the deal.
The company has reached out to lenders and may borrow as much as $600 million, according to one of the people, who asked not be identified because he’s not authorized to discuss the deal. David Knox, a spokesman for Princeton, New Jersey-based NRG, confirmed that the company is evaluating financing options for the 500-megawatt project.