Investors News Release
View printer-friendly version |
<< Back |
NRG Closes on Sale of its Interest in NRG Yield and the NRG Renewables Platform
“The asset sales are a critical part of our transformation and we are pleased to achieve this significant milestone, which aims to focus our company while strengthening our balance sheet and delivering value to shareholders,” said Mauricio Gutierrez, President and Chief Executive Officer, NRG. “With the closing of this transaction, we will be proceeding with the remainder of our 2018 capital allocation plan, including our share buyback and deleveraging programs.”
About NRG
At NRG, we’re redefining power by putting customers at the center of
everything we do. We create value by generating electricity and serving
nearly 3 million residential and commercial customers through our
portfolio of retail electricity brands. A Fortune 500 company, NRG
delivers customer-focused solutions for managing electricity, while
enhancing energy choice and working towards a sustainable energy future.
More information is available at www.nrg.com.
Connect with NRG on
Safe Harbor Disclosure
In addition to historical information, the information presented in this communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks and uncertainties and can typically be identified by terminology such as “may,” “should,” “could,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “expect,” “intend,” “seek,” “plan,” “think,” “anticipate,” “estimate,” “predict,” “target,” “potential” or “continue,” or the negative of these terms or other comparable terminology. Such forward-looking statements include, but are not limited to, statements about the Company’s future revenues, income, indebtedness, capital structure, plans, expectations, objectives, projected financial performance and/or business results and other future events including the effects of this asset sale and the company’s share repurchase program, and views of economic and market conditions.
Although NRG believes that its expectations are reasonable, it can give
no assurance that these expectations will prove to be correct, and
actual results may vary materially. Factors that could cause actual
results to differ materially from those contemplated herein include,
among others, general economic conditions, hazards customary in the
power industry, weather conditions, 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 regulations, the condition of capital markets
generally, our ability to access capital markets, cyber terrorism and
inadequate cyber security, unanticipated outages at our generation
facilities, adverse results in current and future litigation, failure to
identify, execute or successfully implement acquisitions, repowerings or
asset sales, our ability to implement value enhancing improvements to
plant operations and companywide processes, our ability to implement and
execute on our publicly announced transformation plan, including any
cost savings, margin enhancement, asset sale, and net debt targets, our
ability to proceed with projects under development or the inability to
complete the construction of such projects on schedule or within budget,
risks related to project siting, financing, construction, permitting,
government approvals and the negotiation of project development
agreements, our ability to progress development pipeline projects, the
timing or completion of GenOn's emergence from bankruptcy, the inability
to maintain or create successful partnering relationships, our ability
to operate our businesses efficiently, our ability to retain retail
customers, our ability to realize value through our commercial
operations strategy, the ability to successfully integrate businesses of
acquired companies, our ability to realize anticipated benefits of
transactions (including expected cost savings and other synergies) or
the risk that anticipated benefits may take longer to realize than
expected, our ability to close the Drop Down transactions with
NRG undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by law. 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 Earnings
press 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
1 Reflects adjustments made to the purchase price pursuant to
the terms of the Purchase and Sale Agreement entered into on
2 Debt principal as of
View source version on businesswire.com: https://www.businesswire.com/news/home/20180831005225/en/
Source:
NRG Energy, Inc.
Media:
Marijke Shugrue
609.524.5262
or
Investors:
Kevin
L. Cole, CFA
609.524.4526