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NRG Energy Closes Multiple Strategic Acquisitions
— Acquisition of Edison Mission Energy and Dominion’s competitive retail electricity business achieves progress across all three components of NRG’s core strategy —
Enhancing Generation
The addition of EME’s nearly 8,000 megawatts (MW) brings NRG’s total fleet to more than 53,000 MW of generating capacity – the second-largest in the US. The addition of EME’s wind capacity, combined with NRG’s existing wind and solar facilities, further diversifies the company’s renewable portfolio.
Expanding Retail
The acquisition of Dominion’s competitive retail electricity business
will add, after customary transitions, more than 500,000 customer
accounts to NRG’s retail footprint by the end of 2014, doubling NRG’s
northeast retail presence across eight states and enhancing its leading
position in
Growing Green
The closing of EME and Dominion’s retail electric business comes on the
heels of NRG’s acquisition of Roof Diagnostics Solar (RDS), announced on
“Closing this trio of acquisitions in the past week materially enhances
our capabilities and our economies of scale in all of our key business
areas,” said
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 the announced acquisitions 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 and retail 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 of the announced acquisitions.
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
Media:
Karen Cleeve, 609.524.4608
David Knox,
832.357.5730
or
Investors:
Chad Plotkin, 609.524.4526
Daniel
Keyes, 609.524.4527