NRG, Vistra, Constellation Acquire Gas Plants Below New Build Costs; CFS Energy Raises $1 Billion for Fusion Reactors Amid US Demand Growth

The energy sector is witnessing notable merger and acquisition activity, particularly in natural gas power plants, with recent transactions highlighting substantial investments. NRG acquired 13 gigawatts of capacity for $12 billion, Vistra purchased 2.6 gigawatts for $1.9 billion, and Constellation paid $16.4 billion to acquire Calpine. These deals are valued between $700 and $1,100 per kilowatt, which is considerably lower than the cost of building new capacity, estimated at $2,000 to $2,400 per kilowatt. In addition to traditional energy investments, fusion energy is attracting significant funding, exemplified by CFS Energy's recent $1 billion-plus fundraising round led by an undisclosed hyperscale technology company. CFS Energy aims to develop operational fusion reactors within the next decade, a milestone yet to be achieved. These developments occur amid growing electricity demand in the United States, which is driving increased investment in the power sector. Market roundups across various sectors, including automotive, basic materials, energy and utilities, ESG, financial services, and technology, continue to provide insights into ongoing market trends.