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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) APRIL 7, 2000
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NRG ENERGY, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
333-33397 41-1724239
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(Commission File Number) (IRS Employer Identification No.)
1221 NICOLLET MALL, SUITE 700 MINNEAPOLIS, MN 55403
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 612-373-5300
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On March 31, 2000, NRG Energy, Inc (NRG) a wholly-owned subsidiary of Northern
States Power Company, announced that its wholly-owned subsidiary, Louisiana
Generating LLC acquired two fossil fueled generating plants from Cajun Electric
Power Cooperative, Inc. The two plants, located near New Roads, Louisiana,
consist of a two-unit, 220 megawatt (MW) gas-turbine generating station and a
three-unit, 1,488 MW coal-fired generating station. The total purchase price of
$1.026 billion was funded through an $800 million bond offering and an equity
contribution from NRG.
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 - March 31, 2000, News Release from NRG titled "NRG Energy Unit
Louisiana Generating Completes Purchase of Cajun Electric Power Cooperative
Generation Assets".
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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
(Registrant)
By /s/ Leonard A. Bluhm
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Leonard A. Bluhm
Executive Vice President and
Chief Financial Officer
(Principal Financial Officer)
Dated: April 7, 2000
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EXHIBIT 99.5
NRG ENERGY, INC.
FOR IMMEDIATE RELEASE: MARCH 31, 2000
NRG Energy Unit Louisiana Generating
Completes Purchase of
Cajun Electric Power Cooperative Generation Assets
MINNEAPOLIS (March 31, 2000) - NRG Energy, Inc. (NRG Energy), a wholly owned
subsidiary of Northern States Power Company (NYSE: NSP), announced today that
its wholly owned subsidiary Louisiana Generating LLC (Louisiana Generating) has
completed the purchase of 1,708 megawatts of fossil fuel generating assets from
Cajun Electric Power Cooperative, Inc. (Cajun). The stated price in the asset
purchase agreement was $1.026 billion.
"The completion of the Cajun purchase brings a successful end to a long and
complex bankruptcy process," said Craig Mataczynski, president and chief
executive officer of NRG North America. "Louisiana Generating now will focus on
providing low-cost, reliable energy that will help promote the economic growth
of the region served by the member cooperatives. We will also focus on
developing additional business opportunities in the region."
Louisiana Generating's fossil assets consist of two plants near New Roads, La.,
a two-unit, 220 MW gas-turbine generating station and a three-unit, 1,488 MW
coal-fired generating station.
In October 1999, Louisiana Generating was confirmed as the winning bidder for
the Cajun assets. Cajun had sought bankruptcy protection in December 1994 amid
financial problems related to an investment in the River Bend Nuclear Power
Plant near St. Francisville, La. Cajun produced and sold electricity to 11
distribution cooperatives, which deliver power to more than one million people
in Louisiana, as well as to three off-system customers. Louisiana Generating
will continue to serve the distribution cooperatives and off-system customers
under a mix of long-term and short-term contracts.
NRG Energy is one of the world's leading independent power producers,
specializing in the development, construction, operation, maintenance and
ownership of electric generation facilities. Established in 1989, NRG is
involved in over 28,000 MW of high quality projects throughout the United
States, Europe, the Pacific Rim, and Latin America, 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 this press release contains statements that are
forward-looking. Such forward-looking information involves 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 Energy. For more
information regarding these risks and uncertainties, review NRG Energy's filings
with the Securities and Exchange Commission.
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CONTACTS:
Frank Rapley
Trudy Marshall
Directors Communications
NRG Energy, Inc.
612/373-5410
[email protected]
