- NRG to Further Reduce CO2 Emissions 50%
by 2030, 90% by 2050
- Clean Energy and Sustainability to Go
Hand-in-Hand with NRG’s Growth Strategy
- New Ultra-Green Headquarters Showcases
Alternatives for Low Carbon, Highly Resilient Power
NRG Energy, Inc. (NYSE:NRG) is establishing a clear course
towards a clean energy future by setting ambitious sustainability
goals as part of its continued corporate growth strategy. The new
goals are announced in conjunction with today’s groundbreaking
ceremony of the company’s new “ultra-green,” grid resilient
corporate headquarters in Princeton, expected to open in 2016. The
new headquarters was developed in collaboration with and is enabled
by a long-term lease with Boston Properties, which will own the
building.
A rendering of NRG's new Princeton
headquarters, expected to be completed in 2016. (Photo: Business
Wire)
The core of NRG’s sustainability goals is:
- Reduce the company’s carbon dioxide
(CO2) emissions 50% by 2030 and 90% by 2050 below a 2014
baseline;
- Leverage and grow core generation
capabilities in a sustainable, lower carbon manner;
- Substantially grow business and
shareholder value during this transformation into the nation’s
leading provider of reliable, clean, sustainable energy.
To view the live event on NRG’s groundbreaking and
sustainability goals at 1:00pm ET, please visit:
http://www.nrg.com/news/executive-blog/post/nrg-breaks-new-ground
“Having already reduced our CO2 emissions by 40% since 2005, we
see a clear path to further dramatic long-term reduction as we
vigorously pursue our multi-faceted, long term sustainable growth
strategy,” said David Crane, NRG’s CEO. “As the U.S. transitions to
a renewables-driven, increasingly distributed, grid resilient
energy system, we expect to be a leader both in clean energy and in
converting the CO2 emissions of our conventional generation from a
liability to a profitable by-product.”
NRG, the second-largest conventional power generation company in
the U.S., has achieved significant reductions in CO2 emissions in
recent years, but remains a major emitter of CO2. NRG’s
sustainability initiatives will have a significant positive impact
on the environment. We estimate that these carbon reduction goals
will avoid approximately 3 billion tons of CO2 emissions by 2050.
This is equivalent to:
- Avoiding the deforestation of 18,000
square miles of Amazon rain forest (roughly the land mass of
Vermont and New Hampshire combined);
- Avoiding all of New York City’s CO2
emissions, at 2005 levels, for 65 years; or
- Seven million homes avoiding all of
their carbon emissions (from fuel and electricity) every year
between now and 2050.
To accomplish its objectives, NRG intends to continue its
leadership role in the development, ownership and operations of
renewable generation, cost-effective carbon capture and
sequestration (CCS), energy storage and low carbon distributed
energy resources. New natural gas generation will also play a role
in supporting renewable integration while ensuring reliability and
fuel resource diversity. A key principle of its 2030 goals is NRG’s
commitment to achieving these reductions while significantly
growing the business.
“As the largest competitive generator in the country, we have
the responsibility to continue reducing our carbon footprint in the
medium and long term through innovation and ingenuity,” said
Mauricio Gutierrez, NRG’s COO. “Our portfolio allows us to pursue
everything from fuel conversions and carbon capture and
sequestration to renewables and distributed technologies. We have
already started to demonstrate our lower carbon strategies with our
asset revitalization program and with NRG Carbon 360, our carbon
capture business that includes our Petra Nova project at W A
Parish, southwest of Houston. With the construction of our new
headquarters, we will showcase the distributed energy solutions
available to businesses committed to sustainability across
America.”
Distributed energy resources will play an increasingly important
role in NRG’s growth. These include distributed solar, efficient
co-generation and electric vehicle networks, along with smart
systems to manage them all intelligently and efficiently. Through
this ongoing renewal and repowering of its generation fleet, NRG is
committed to the continued delivery of reliable, efficient power in
an increasingly environmentally sustainable and profitable
manner.
NRG’s green, co-gen- and solar-powered headquarters will
showcase the ability of businesses to foster sustainability in
their facilities, while reducing their dependence on grid
power.
NEW INNOVATIVE, SUSTAINABLE HEADQUARTERS
Having outgrown its current location, NRG is seizing the
opportunity to design, develop and inhabit a new facility that
incorporates the cutting-edge resource technologies that
characterize the NRG vision. The three-floor, 130,000 square foot
headquarters seamlessly integrates a host of renewable energy
technologies and efficiency measures, both established and
cutting-edge. The NRG headquarters will be a showcase for one of
the most trailblazing resource-efficient, grid-resilient designs
achievable by corporate America today.
The new headquarters sets the bar for clean energy innovation in
corporate facility design and reinforces NRG’s commitment to
sustainability leadership. The building demonstrates that clean,
sustainable design is achievable and sets an example of
environmental leadership in corporate America. It was designed in
collaboration with Boston Properties, which shares NRG’s goal to
bring a new level of integrated sustainability to the suburban
built environment and will be solely occupied by NRG pursuant to a
15 year lease.
The location will incorporate, among other technologies:
- Two on-site solar fields, with roughly
765 kW of capacity;
- High-efficiency LED lighting combined
with daylight harvesting to reduce indoor lighting needs and energy
use by roughly one-third;
- 12,000 gallons of rainwater harvesting
capacity to reduce city water use by 80%;
- Over 30 electric vehicle charging
stations with the infrastructure for EV-to-grid (eV2g) “back-feed”
capability;
- Off-grid capabilities and significant
additional energy efficiency provided through dual-fuel generators
and combined heat and power (CHP) systems for heating and
cooling;
- Grid power, to the extent it is used,
will be 100% renewable energy through one of NRG’s green retail
subsidiaries.
These features will dramatically reduce electricity, water and
fuel use relative to a similar-sized corporate office. The 765 kW
solar array is expected to produce some 980 MWh of clean
electricity per year, displacing approximately 588 tons of CO2
annually, equivalent to the energy related emissions of 50 houses.
In addition to the financial and environmental benefits that come
from resource efficiency, these technologies will provide an
educational and inspiring workplace for more than 500 employees
onsite.
More information on our new headquarters can be found here:
http://www.nrg.com/news/sustainable-headquarters
NRG views creating sustainable businesses and a sustainable and
renewable energy economy as essential to our collective future.
Strong support from New Jersey local and state officials, and
particularly the New Jersey Economic Development Authority,
reinforced NRG’s decision to stay and grow in New Jersey. NRG
employs more than 900 people across the state, and over the last
five years has contributed nearly $3 million to more than 75 New
Jersey charities.
About NRG Energy
NRG is leading 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 250 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 serve almost 3 million
residential and commercial customers throughout the country. More
information is available at www.nrg.com. Connect with NRG
Energy on Facebook and follow us on Twitter @nrgenergy
and @NRGMedia.
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 carbon
emissions 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
the retail electricity markets, the volatility of energy and fuel
prices, failure of customers to perform under contracts and our
ability to achieve the expected benefits and timing of the
company’s successful achievement of its sustainability goals. 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.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20141120005471/en/
NRG Energy, Inc.MediaKaren Cleeve, 609-524-4608orInvestorsChad
Plotkin, 609-524-4526
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