NRG Yield to Acquire Energy Systems Company for $120M in Cash

NRG Yield NYLD, in its first third-party acquisition, has entered into an agreement to acquire the assets of privately held Energy Systems Company (ESC) of Omaha, Neb., an award-winning supplier of district energy, for $120 million in cash. NRG Yield intends to fund the purchase price using cash on hand and expects the acquisition to increase Cash Available for Distribution by approximately $8 million in 2014. The assets will be acquired debt-free. “The acquisition of ESC demonstrates NRG Yield's ability to successfully compete for attractive contracted energy assets available from third parties,” said David Crane, NRG Yield's Chairman and Chief Executive Officer. “In addition to contributing to our objective of sustainable See full press release