Investors News Release
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Starwood and NRG Energy Bring Sustainable Luxury to The Phoenician
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) in partnership with NRG Energy, Inc. (NYSE:NRG), through its wholly-owned subsidiary NRG Renew, today unveiled its first project to integrate clean sustainable energy at The Phoenician, a Luxury Collection resort. Featuring approximately 2,000 photovoltaic (PV) solar panels, the 568 kilowatt (kWdc) solar installation will offset a portion of The Phoenician resort’s energy demand – an amount equivalent to the energy needs of approximately 90 homes.
Core to the project was the design-driven approach – from panel placements, which work with the terrain to create airflow, to the structure’s accent colors that blend into the natural surroundings. In addition to its sustainability benefits, the panels also provide shading and outdoor event space, a coveted amenity during the hot desert summer months. The project illustrates how Starwood and NRG together are advancing clean energy in a way that is design-led and experiential for guests.
“At Starwood, sustainability is second nature, and our work with NRG Renew at The Phoenician exemplifies our commitment to that idea while also going the extra step to create a better world to experience,” said Ken Siegel, Chief Administrative Officer and General Counsel for Starwood and head of Global Citizenship. “In this project, we’ve integrated solar panels into the existing landscape in a subtle way so The Phoenician continues to complement its environment, maintaining its iconic views of Camelback Mountain while reducing its carbon footprint and helping us achieve our sustainability goals. We’ve set aggressive goals to reduce our energy consumption and carbon emissions by 30 percent and our water consumption by 20 percent by 2020, and this is one step in achieving those goals without sacrificing luxury.”
“Starwood and NRG are totally aligned in our intention to embed sustainability into every aspect of our core business operations and we were very pleased to assist Starwood with an aesthetically sensitive, clean energy solution at an iconic property like The Phoenician,” said David Crane, NRG CEO.
This project is the first of several between NRG and Starwood. The partnership will also incorporate solar installations at The Westin St. John Resort in the U.S. Virgin Islands and The Westin Maui Resort & Spa, Ka’anapali.
Together, all three installations are expected to provide more than 2 megawatts (MWdc) of solar power. Both island installations are especially significant in their respective locations, as they will provide clean, efficient power that helps protect the pristine locations where our properties are located.
About NRG Renew
NRG Renew, a subsidiary of NRG Energy, oversees the operations of more than 150 renewable energy projects totaling approximately 4,500 gross megawatts (MWac) of solar and wind capacity in operation throughout North America. More information is available at www.nrg.com/renew
About NRG Energy
NRG Energy (NYSE:NRG) is leading 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 250 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 serve almost 3 million residential and commercial customers throughout the country. More information is available at www.nrg.com . Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy and @NRGMedia.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 1,200 properties in 100 countries, and 181,400 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis ®, The Luxury Collection ®, W ®, Westin ®, Le Méridien ®, Sheraton ®, Four Points ® by Sheraton, Aloft ®, and Element ®. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG®), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com .
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 Company’s Starwood solar projects 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 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 Securities and Exchange Commission at www.sec.gov .