Two units of NRG Energy file for bankruptcy

June 6, 2003 — Two units of NRG Energy Inc. are seeking to follow their parent company into Chapter 11 bankruptcy protection.

According to Dow Jones Business News, NRG Nelson Turbines LLC and LSP-Nelson Energy LLC have both filed voluntary bankruptcy petitions in Manhattan. The filings mentioned debts and assets of more than $100 million each.

Their parent company, NRG Energy, itself filed for bankruptcy May 14 and began implementation of a restructuring plan between Xcel Energy Inc., NRG Energy and NRG Energy’s unsecured creditors.

LSP-Nelson Energy was created to build, own and operate a 1,168 MW gas-fired generating plant now under construction near Chicago. The other subsidiary, NRG Nelson Turbines, was set up to buy equipment for LSP-Nelson Energy, according to the report. NRG Energy has said that both units are expected to continue operating after they emerge from bankruptcy.

Another subsidiary of NRG Energy’s, LSP-Pike Energy, is contesting an involuntary bankruptcy filing in Mississippi.

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