NRG Energy’s Solar Portfolio Surpasses 1,200 Megawatts
March 28 2014 - 8:30AM
Business Wire
— Output supports nearly one million homes;
more than doubles 2012 total —
NRG Energy, Inc. (NYSE:NRG) through its subsidiaries including
NRG Yield, Inc. (NYSE:NYLD) and NRG Solar, one of the nation’s
largest solar developers, now owns and operates more than 1,200
megawatts (MW) of solar capacity. Through these facilities, NRG
helps power nearly one million homes at full output with clean,
renewable solar energy, which is helping reinvent the US energy
ecosystem.
“The completion of our most ambitious projects yet, and the
commercial availability of the clean power they produce, clearly
positions NRG as one of the largest and most progressive companies
in the energy space today,” said Tom Doyle, President, NRG Solar.
“As we look forward to 2014 and beyond, we’ll continue to help
reshape the US energy landscape with our thriving renewable energy
portfolio, as well as looking at more opportunities outside the
US.”
NRG Solar’s portfolio of thermal and photovoltaic (PV) projects
has more than doubled since the end of 2012. These projects use
innovative technology and construction processes to achieve
world-class results. NRG Solar’s four largest projects have all
achieved full completion in the past 10 months:
- Ivanpah Solar Electric Generating
System: The world’s largest concentrated solar thermal power (CSP)
plant with an output of 392 MW, Ivanpah provides energy for more
than 310,000 homes at peak capacity.
- Agua Caliente: One of the world’s
largest solar photovoltaic (PV) plants with an output of 290 MW
provides energy for more than 230,000 homes at peak capacity
- California Valley Solar Ranch:
Producing energy up to 250 MW to power 200,000 homes at peak
capacity
- Alpine: The first large-scale solar
plant built in Los Angeles County, with an output of 66 MW
providing energy for nearly 53,000 homes at peak capacity
In 2014, NRG has completed solar installations at four NFL
stadiums – FedExField, MetLife Stadium, Lincoln Financial Field and
Patriot Place at Gillette Stadium, with a fifth under construction
at Levi’s Stadium in California. Later this year, NRG will also be
completing work on the Community project in California’s Imperial
Valley as well as a rooftop installation for MGM’s Mandalay Bay
Convention Center in Las Vegas. Work will also begin on three
Starwood Resort and Hotel properties in Scottsdale, Arizona; Maui,
Hawaii; and on the island of St. John in the US Virgin Islands.
In an effort that began with NRG’s philanthropic efforts in
Haiti, NRG has continued to develop opportunities outside of the
US. Earlier this month, the company announced the groundbreaking of
a 25 MW installation called Dandan that will be Guam’s first solar
power plant, and last month announced an agreement with Virgin
Limited Edition to power Necker Island with a renewable
energy-driven micro-grid solution.
As a whole, the solar electric market continued its upward
trajectory in 2013. In the US 4,751 MW of solar PV was installed in
2013, up 41% over 2012 and nearly 15 times the amount installed in
2008. Twenty-nine percent of all new electricity generation
capacity added this year in the US came from solar – with seven
states getting 100% of their new generation from solar. California,
where NRG Solar is headquartered, leads the nation in installed
solar generation with 5,231 MW.
According to the Solar Energy Industries Association (SEIA), a
new solar project is installed in the US every four minutes, and
the nearly 13,000 MW of solar energy generated on American soil
displaces approximately 12.6 million metric tons of carbon
annually, the equivalent of removing 2.6 million cars from the
road. The industry is on pace for another record year, with close
to 6,000 MW of PV and nearly 900 MW of concentrating solar power
(CSP) scheduled to come online in 2014.
About NRG and NRG Solar
NRG is leading a customer-driven change in the U.S. energy
industry by delivering cleaner and smarter energy choices, while
building on the strength of the nation’s largest and most diverse
competitive power portfolio. A Fortune 500 company, we create value
through reliable and efficient conventional generation while
driving innovation in solar and renewable power, electric vehicle
ecosystems, carbon capture technology and customer-centric energy
solutions. Our retail electricity providers – Reliant, Green
Mountain Energy, Energy Plus and NRG Residential Solutions – serve
more than 2 million residential and commercial customers throughout
the country. More information is available at nrgenergy.com and
nrgsolar.com. Connect with NRG Energy and NRG Solar on Facebook and
follow us on Twitter @nrgenergy and @nrgsolar.
NRG Safe Harbor Disclosure
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such forward-looking
statements are subject to certain risks, uncertainties and
assumptions and include NRG’s expectations regarding the Company’s
solar projects and forward-looking statements typically can be
identified by the use of words such as “will,” “expect,” “believe,”
and similar terms. Although NRG believes that its expectations are
reasonable, it can give no assurance that these expectations will
prove to have been correct, and actual results may vary materially.
Factors that could cause actual results to differ materially from
those contemplated above include, among others, general economic
conditions, hazards customary in the power industry, competition in
wholesale power markets, the volatility of energy and fuel prices,
failure of customers to perform under contracts, changes in the
wholesale power markets, changes in government regulation of
markets and of environmental emissions, and our ability to achieve
the expected benefits and timing of our solar projects. NRG
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. The foregoing review of factors that could cause
NRG’s actual results to differ materially from those contemplated
in the forward-looking statements included in this news release
should be considered in connection with information regarding risks
and uncertainties that may affect NRG’s future results included in
NRG’s filings with the Securities and Exchange Commission at
www.sec.gov.
NRG Energy, Inc.Media:Jeff Holland, 760-710-3828orInvestors:Chad
Plotkin, 609-524-4526orDaniel Keyes, 609-524-4527
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