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NRG Acquires Roof Diagnostics Solar (RDS)
Significantly expands NRG Energy’s residential solar business
Complements existing network of installers
“With the price of residential solar increasingly competitive with the
retail price of power in multiple states, the time is now for NRG to
ramp up its efforts to bring the benefit of self generation to NRG’s
millions of present and future retail electricity customers,” said
“Backed by the tremendous resources, capabilities and commitment of NRG,
Roof Diagnostics can greatly increase the growth we have achieved since
starting operations in 2011,” said
RDS is one of the largest solar sales and installation companies in
America and a market leader in every state they operate. The
475-employee company has experienced tremendous growth in just a few
short years in the Northeast and is now expanding into
“Together, the RDS team and NRG’s existing extensive network of
independent residential solar installers and dealers will allow us to
give customers and potential customers significant options in creative
and compelling home power systems,” said
RDS’ headquarters will remain in
Terms of the transaction are not being disclosed.
About NRG
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,
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 Roof Diagnostics Solar, residential solar
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 residential 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
Source:
NRG Energy, Inc.
Media:
Karen Cleeve, 609-524-4608
or
David
Knox, 832-357-5730
or
Investors:
Chad Plotkin,
609-524-4526
or
Daniel Keyes, 609-524-4527