SEC Filings

10-K
NRG ENERGY, INC. filed this Form 10-K on 02/29/2016
Entire Document
 
                

Capital Expenditures
The following tables and descriptions summarize the Company's capital expenditures for maintenance, environmental, and growth investments, for the year ended December 31, 2015, and the estimated capital expenditure and growth investments forecast for 2016
 
Maintenance
 
Environmental
 
Growth Investments
 
Total
 
(In millions)
NRG Business
 
 
 
 
 
 
 
Gulf Coast
$
193

 
$
65

 
$
20

 
$
278

East
155

 
209

 
94

 
458

West
5

 

 
25

 
30

B2B
5

 

 
1

 
6

NRG Home Retail
30

 

 

 
30

NRG Home Solar
5

 

 
135

 
140

NRG Renew
11

 

 
208

 
219

NRG Yield
20

 

 
9

 
29

Corporate
37

 

 
56

 
93

Total cash capital expenditures for the year ended
December 31, 2015, net of financings
461

 
274

 
548

 
1,283

Other investments(a)

 

 
506

 
506

Funding from debt financing and NRG Yield, Inc. equity issuance, net of fees

 
(37
)
 
(409
)
 
(446
)
Funding from third party equity partners and cash grants
(33
)
 

 
(188
)
 
(221
)
Total capital expenditures and investments, net of financings
428

 
237

 
457

 
1,122

 
 
 
 
 
 
 
 
Estimated capital expenditures for 2016
460

 
304

 
694

 
1,458

Other investments

 

 
61

 
61

Funding from debt financing, net of fees

 

 
(315
)
 
(315
)
Funding from third party equity partners and cash grants

 

 
(4
)
 
(4
)
NRG estimated capital expenditures for 2016, net of financings
$
460

 
$
304

 
$
436

 
$
1,200

(a) Other investments include restricted cash activity and $285 million for the acquisition of a 25% interest in the Desert Sunlight Solar Farm.
Environmental capital expenditures — For the year ended December 31, 2015, the Company's environmental capital expenditures included DSI/ESP upgrades at the Avon Lake, Powerton and Waukegan facilities and the Joliet gas conversion to satisfy IL CPS; controls to satisfy MATS and the NSR settlement at the Big Cajun II facility; mercury controls at the W.A. Parish facility; and NOx controls for the Sayreville and Gilbert facilities.
Growth Investments capital expenditures — For the year ended December 31, 2015, the Company's growth investment capital expenditures included $343 million for solar projects, $94 million for fuel conversions, $45 million for repowering projects, $9 million for thermal projects and $57 million for the Company's other growth projects.
Environmental Capital Expenditures Estimate
NRG estimates that environmental capital expenditures from 2016 through 2020 required to comply with environmental laws will be approximately $350 million, which includes $68 million for GenOn and $263 million for Midwest Generation. These costs, the majority of which will be expended by the end of 2016, are primarily associated with (i) DSI/ESP upgrades at the Powerton facility and the Joliet gas conversion to satisfy the IL CPS and (ii) MATS compliance at the Avon Lake facility.
In connection with the acquisition of EME, as further described in Item 15 —Note 3, Business Acquisitions and Dispositions, to the Consolidated Financial Statements, NRG committed to fund up to $350 million in capital expenditures for plant modifications at Powerton and Joliet to comply with environmental regulations. The expected costs of these projects are included in the environmental capital expenditures detailed above.


94