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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 28, 1999
NRG ENERGY, INC.
(Exact Name of Registrant as specified in its charter)
DELAWARE 333-33397 41-1724239
(State or Other (Commission (I.R.S. Employer
Jurisdiction of Incorporation) File Number) Identification No.)
1221 Nicollet Mall, Suite 700
Minneapolis, MN 55403
(Address of Principal Executive Offices)
(Zip Code)
(612) 373-5300
(Registrant's Telephone Number, including area code)
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ITEM 5. OTHER EVENTS.
On June 11, 1999, NRG Energy, Inc. ("NRG" or the "Company"), a wholly-owned
subsidiary of Northern States Power Company, acquired the Dunkirk Station and
the Huntley Station from Niagara Mohawk Power Corp. The Dunkirk Station is a
four-unit, 600 Megawatt ("MW") coal-fired plant located 55 miles southwest of
Buffalo, New York. The Huntley Station is a six-unit, 760 MW coal-fired plant
located three miles north of Buffalo, New York. The facilities cost
approximately $355 million and were financed by a recent Senior Note issuance,
non-recourse project level financing, and working funds.
NRG holds 100 percent interest in the stations and will operate and maintain the
units. The acquisition of these assets expands NRG's holding in the Northeast
United States, where the Company owns the Somerset Station, a 229 MW facility
located in Somerset, Massachusetts.
Other details are contained in the news release attached as Exhibit 99.5.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit No. 99.5 - June 11, 1999 News Release from NRG titled "NRG Energy
Closes Acquisition of Dunkirk and Huntley Generating Stations."
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NRG Energy, Inc.
(a Delaware Corporation)
By: /s/ Leonard A. Bluhm
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Leonard A. Bluhm
Executive Vice President and Chief Financial Officer
(Principal Financial Officer)
Dated: June 28, 1999
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EXHIBIT 99.5
NRG ENERGY, INC.
FOR IMMEDIATE RELEASE: JUNE 11, 1999
NRG ENERGY CLOSES ACQUISITION OF
DUNKIRK AND HUNTLEY GENERATING STATIONS
MINNEAPOLIS (June 11, 1999) -- NRG Energy, Inc., a wholly-owned subsidiary
of Northern States Power Company (NYSE: NSP), announced today the closing
of the acquisitions of Dunkirk Station and Huntley Station from Niagara
Mohawk Power Corp. (Niagara Mohawk).
Dunkirk Station, a four-unit, 600 MW plant, is located 55 miles southwest
of Buffalo, New York. Huntley Station, located three miles north of
Buffalo, is Niagara Mohawk's largest coal-fired plant and is comprised of
six units with a total nominal rating of 760 MW. NRG holds 100 percent
interest in the projects and will operate and maintain the units.
The acquisition of the Dunkirk and Huntley stations expands NRG's holdings
on the Northeast United States, where the company owns Somerset Station , a
229 MW facility with 160 MW currently in operation and 69 MW in deactivated
reserve, located in Somerset, Massachusetts. NRG acquired Somerset Station
in April 1999. Earlier this year, NRG entered into agreements to acquire
the 1,700 MW Oswego Generating Station from Niagara Mohawk and Rochester
Gas & Electric Corp., and the 1,456 MW Arthur Kill Generating Station and
Astoria Gas Turbine Sites from Consolidated Edison Company of New York.
When these transactions are concluded, NRG will own and operate plants
representing in excess of 5,000 MW of generating capacity in the Northeast
United States.
"NRG is extremely pleased with the rapid close of the Dunkirk and Huntley
acquisitions," said Craig Matacynski, president and chief executive officer
of NRG North America. "We look forward to the completion of our additional
pending acquisitions in the Northeast, which exemplify our commitment to
increase shareholder value through the execution of NRG's selected market
strategy."
NRG is one of the world's leading independent power producers, specializing
in the development, construction, operation, maintenance and ownership of
low-cost, environmentally sensitive power plants. Established in 1989, NRG
has a high quality portfolio of projects in the United States, Europe, the
Pacific Rim, and Latin America. NRG is involved in approximately 16,000 MW
of projects utilizing diverse fuel types including natural and landfill
gas, hydro, and solid fuels such as coal, lignite, biomass and
refuse-derived fuel.
Certain information included in the press release contains statements that
are forward-looking. Such forward-looking information involves important
risks and uncertainties that could significantly affect anticipated results
in the future and, accordingly, such results may differ from those
expressed in any forward-looking statements made by or on behalf of NRG.
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Contact:
Frank Rapley
Director Communications
612/373-8892
