BP and Nuon had backed renewable power group Green Mountain Energy before its planned $350m takeover by NRG Energy.
New York-listed power company NRG Energy has agreed to buy Green Mountain Energy from its venture investors for $350m.
Netherlands-based utility Nuon, before its acquisition by Germany-based peer Vattenfall, and oil major BP had invested in Green Mountain after the millennium. Nuon had committed $53.5m to the renewable power company in October 2000, just after BP’s investment.
The two strategic investors had also committed to Green Mountain’s $24m round in February 2002, according to news provider PEHub.
However, the company made no reference to the investors in its exit.
