NRG Energy said it will sell as much as $ 4 billion in assets as it seeks to lower its debt and cut costs after a revolt by activist investors unhappy with the company’s direction.

Shares of the company jumped 29% to a two-year high on July 12 after NRG announced the moves as part of a “transformation plan” designed to divest most if not all of its NRG Yield renewable energy business along with some of its conventional energy assets, including coal- and natural gas-fired power plants.

NRG, headquartered in Houston, Texas, said it wants to remove $ 13 billion in debt and generate more than $ 850 million in annual free cash flow, with a goal of adding more than $ 6 billion to its balance sheet through 2020 that would be available for new projects and investments.

NRG Energy unveiled a new plan to sell assets and change its focus in an effort to increase the company’s value for shareholders.

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