NRG Energy, Inc. Completes Sale of Flinders to Babcock & Brown

Business Wire,  August 30, 2006  

Tags: NRG Energy Inc.

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PRINCETON, N.J. -- NRG Energy, Inc. (NYSE:NRG) today completed the sale of its 100% owned Flinders power station and related assets to Babcock & Brown Power Pty, Ltd. a subsidiary of global investment and advisory firm Babcock & Brown. Net proceeds from the sale were AUD 314 million (approximately USD 239 million) and the elimination of approximately AUD 471 million (approximately USD 359 million) of consolidated liabilities including AUD 241 million (approximately USD 184 million) of non-recourse debt obligations and AUD 100 million (approximately USD 76 million) in non-current liabilities related to the obligations for the purchase of electricity and the supply of fuel to the Osborne power station that are guaranteed by NRG.

Located near Port Augusta, Australia, Flinders consists of two coal-fueled plants--Northern and Playford--totaling 760 megawatts.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and typically can be identified by the use of words such as "will," "expect," "believe," and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially.

NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the Securities and Exchange Commission at www.sec.gov.

More information on NRG is available at www.nrgenergy.com

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