07 Feb '18, 5pm

NRG Sells Off Renewable Energy Business and South Central Assets

NRG Sells Off Renewable Energy Business and South Central Assets

NRG Energy has agreed to sell its renewable energy business and South Central generation assets in strategic move to streamline the company. “Today’s announcement represents a significant milestone in simplifying our value proposition, optimizing our portfolio, and strengthening our balance sheet to create significant shareholder value,” said Mauricio Gutierrez, president and CEO of NRG Energy. Global Infrastructure Partners (GIP) will acquire NRG's controlling stake and 46 percent economic interest in NRG Yield, as well as NRG’s renewable energy development and operations and maintenance businesses, for $1.375 billion in cash proceeds. NRG’s renewable O&M platform currently manages 2.4 gigawatts of renewable power generation in 17 states. The company's renewable development platform has a total project pipeline of more than 6.4 gigawatts of renewable generation opportunit...

Full article: https://www.greentechmedia.com/articles/read/nrg-sells-re...

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