NRG Targets Year-End Deal for $3.2B Texas Hyperscaler Power Plant

NRG Energy expects to finalize agreements by the end of 2026 for a $3.2 billion natural gas power plant in Texas built to serve a hyperscale data center, company executives said on the company's third-quarter earnings call on Nov. 9. The 1.2-gigawatt combined-cycle project is the first under NRG's "Bring Your Own Power" model, which pairs new dispatchable generation with a large new electricity customer.

Chief Executive Robert Gaudette told analysts he had spoken with the customer since the Nov. 3 elections. "I've actually talked to our customer since the elections, this project is going to happen," he said. In prepared remarks, he said the project is on track and that he fully expects "approved agreements and an announcement by year-end." Chief Financial Officer Bruce Chung said NRG is targeting a definitive agreement by year-end.