MANRESA PROPERTY HAS BEEN SOLD TO ARGENT VENTURES

OCTOBER 25th, 2023

PRESS RELEASE FROM NRG

Norwalk Power Closes on Sale of its Norwalk, Connecticut Site

- Site to be repurposed; Local leaders express their appreciation -

NORWALK, CT – October 25, 2023 – Norwalk Power, owned by NRG Energy, a leading energy and home services company, has sold Norwalk Harbor Generating Station in South Norwalk, Connecticut to Argent Ventures. Terms of the sale are confidential.

The 134-acre site, adjacent to Norwalk Harbor, includes a power plant that has been retired since 2013. Prior to its retirement, the plant employed hundreds of men and women, who for nearly six decades, helped keep the lights on in Connecticut.

“This is a great outcome for the city of Norwalk and its residents because it will allow for this exceptional property to be thoughtfully repurposed,” said Judith Lagano, Senior Vice President of Asset Management at NRG. “NRG is pleased to pass the baton to an experienced developer who can reimagine the site to continue its legacy as a vital part of the community. NRG appreciates the support from Norwalk Mayor Harry Rilling, Senate Majority Leader Bob Duff, and Congressman Jim Himes throughout the marketing process to achieve this favorable result.”

“The sale of the Norwalk Harbor Generating Station to Argent Ventures is a step forward for the City of Norwalk,” said Mayor Rilling. “The transformation of the property has been a goal of the City for nearly a decade. I want to express my appreciation to the residents of Norwalk, especially those in the Manresa Association, who provided their input over these years in support of finding appropriate uses of the property. We look forward to seeing the existing plant come down and working closely with the community and Argent Ventures as they move forward with a comprehensive vision for the site’s reuse that supports open space, resiliency and natural beauty and enhances the quality of life for Norwalk residents. Finally, I want to thank NRG Energy, Congressman Himes, Senator Duff and our Common Council members for all their efforts and collaboration over the years to help make this transition possible.”

"I applaud the successful sale of the Norwalk Harbor Generating Station to Argent Ventures, which is an important step in bringing fresh opportunities to our city,” said Senate Majority Leader Bob Duff. “The transition from a retired power plant to something more in line with what our community expects including a focus on open space and storm resiliency, represents a bright future for Norwalk. I want to thank the many Norwalkers who made their voices heard on the future of this location both at my community meeting after the plant closed and since then. Your input has truly made a difference during this process. I also want to extend my appreciation to NRG Energy, Mayor Rilling, and Congressman Himes for their collaborative efforts in making this transformation possible."

“This agreement represents a welcome new chapter in the status of Manresa Island,” said State Representative Jonathan Steinberg. “I'm encouraged that its new owner has experience appropriately developing complicated properties and will pursue a long-term solution, ideally incorporating clean energy projects.”

PRESS RELEASE

“We look forward to working with the city and neighboring community groups on a comprehensive vision for the site’s reuse as a residential development with a large proportion of the site preserved as open space,” said Clay McPhail, Vice President at Argent Ventures. “We are excited about the opportunity to create a development that can preserve Manresa’s natural beauty and provide increased opportunities for waterfront access and storm resiliency.”

About NRG

NRG Energy is a leading energy and home services company powered by people and our passion for a smarter, cleaner, and more connected future. A Fortune 500 company operating in the United States and Canada, NRG delivers innovative solutions that help people, organizations, and businesses achieve their goals while also advocating for competitive energy markets and customer choice. More information is available at www.nrg.com. Connect with NRG on Facebook and LinkedIn, and follow us on Twitter, @nrgenergy.

NRG Contact:

Dave Schrader

Dave.Schrader@nrg.com

Argent Contact:

Clay McPhail

CMcPhail@argentventures.com