NRG and NRG Yield Unveil New 20 MW Solar Facility in Southern California
March 07 2016 - 08:00AM
Business Wire
New Solar Installation Helps California Move
Closer to Clean Energy Goal
NRG Energy, Inc. (NYSE:NRG), the country’s largest independent
power producer, and its subsidiary NRG Yield, Inc. (NYSE:NYLD,
NYLD.A), today announced that a new 20 megawatt (MW) photovoltaic
(PV) facility is now online in Southern California. The NRG Solar
Oasis facility will generate clean, reliable solar power, sold
under a 20-year power purchase agreement with Southern California
Edison. The project was jointly funded by both NRG and NRG Yield
through the previously announced partnership between both
companies.
“We are proud to continue to bring renewable energy options to
the residents of Southern California, and this project is a great
example of our focus on customers and our desire to provide them
with the energy solutions they need and want,” said Craig
Cornelius, senior vice president, NRG Energy. “We are happy to see
that the United States Air Force values clean energy and has
partnered with us on this project that helps California meet its
renewable energy goals.”
The project was built on approximately 180 acres of land located
in the western Mojave Desert, five miles northeast of Palmdale,
Calif., the majority of which is leased from the United States Air
Force.
Approximately 98,000 PV solar panels onsite are expected to
generate enough electricity to power approximately 3,280 homes. At
this rate, the project will avoid 41,000 tons of carbon emissions,
equivalent to taking 8,600 cars off the road.
Construction began in summer 2015, and the project created
approximately 250 jobs during construction.
About NRG
NRG is the leading integrated power company in the U.S., built
on the strength of the nation’s largest and most diverse
competitive electric generation portfolio and leading retail
electricity platform. A Fortune 200 company, NRG creates value
through best in class operations, reliable and efficient electric
generation, and a retail platform serving residential and
commercial businesses. Working with electricity customers, large
and small, we continually innovate, embrace and implement
sustainable solutions for producing and managing energy. We aim to
be pioneers in developing smarter energy choices and delivering
exceptional service as 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.
About NRG Yield
NRG Yield owns a diversified portfolio of contracted renewable
and conventional generation and thermal infrastructure assets in
the United States, including fossil fuel, solar and wind power
generation facilities that provide the capacity to support more
than two million American homes and businesses. Our thermal
infrastructure assets provide steam, hot water and/or chilled
water, and in some instances electricity, to commercial businesses,
universities, hospitals and governmental units in multiple
locations. NRG Yield’s Class C and Class A common stock are traded
on the New York Stock Exchange under the symbols NYLD and NYLD.A,
respectively. Visit nrgyield.com for more information.
Forward-Looking Statements
This communication contains forward-looking statements that may
state NRG’s and NRG Yield’s or their management’s intentions,
beliefs, expectations or predictions for the future. Such
forward-looking statements are subject to certain risks,
uncertainties and assumptions, and typically can be identified by
the use of words such as “will,” “expect,” “estimate,”
“anticipate,” “forecast,” “plan,” “believe” and similar terms.
Although NRG and NRG Yield believes that their expectations are
reasonable, they 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, risks and
uncertainties related to the performance of the facility.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160307005213/en/
NRG Energy and NRG YIELDMedia
RelationsVeronica Skelton,
415-342-3435veronica.skelton@nrg.comorInvestor
RelationsKevin Cole, CFA,
609-524-4526kevin.cole@nrg.comorLindsey Puchyr,
609.524.4527Lindsey.Puchyr@nrg.com
NRG Energy (NYSE:NRG)
Historical Stock Chart
From Feb 2024 to Mar 2024
NRG Energy (NYSE:NRG)
Historical Stock Chart
From Mar 2023 to Mar 2024