NEW YORK--(BUSINESS WIRE)--Sep. 26, 2013--
NRG Energy, Inc. (NYSE:NRG) and Digicel today jointly announced at the
Clinton Global Initiative conference in New York a partnership to
acquire, construct and operate renewable energy projects under
development in the Caribbean region. NRG and Digicel stand ready to
bring financial and environmental benefits to the governments, utilities
and peoples of the Caribbean in a venture that could see the two
companies making a sizeable investment in the region.
“NRG’s work in Haiti has demonstrated the transformative impact that
renewable energy can have on communities that otherwise lack access to
affordable, reliable electricity,” said David Crane, Chief Executive
Officer of NRG. “We stand ready with Digicel to support the widespread
adoption of renewables across the Caribbean, thereby helping to drive
down electricity costs for the region and reducing the deleterious
impacts of fossil fuel generation on the Caribbean ecosystem.”
“In the Caribbean today, distributed and utility-scale renewable energy
projects can deliver a much lower cost of energy than fossil fuels,
without subsidies,” said Colm Delves, Group CEO of Digicel. “Our intent
is to identify projects from across the region – and to support these in
completing development, financing, and construction. This will translate
into substantive and lasting energy savings for the governments and
people of the Caribbean.”
Crane added, “NRG’s vision is for solar-led renewable medium- to
large-scale off-grid systems across the region. We understand a mix of
technologies, from batteries to wind energy systems, will be necessary
to offer the greatest financial and environmental benefits to Caribbean
stakeholders, and we are open to supporting all systems with
demonstrated performance history.”
NRG and Digicel endeavor to partner on projects throughout the
Caribbean, with the aim of acquiring, constructing, and owning these
projects for their lifetime. Through an RFP process, NRG and Digicel are
soliciting developers, governments, installers and others to provide
information on renewable energy projects under development for possible
investment. The RFP will be formally launched on September 30, 2013, and
end on November 15, 2013.
The process is being managed by CohnReznick Think Energy, LLC (CRTE).
CRTE is a consulting firm focused on facilitating the growth of
renewable energy by supporting transactions, and providing due diligence
and other advisory services. NRG and Digicel have strict investment
parameters and each project will be thoroughly reviewed by CRTE to
ensure it meets all investment criteria. To obtain a copy of the RFP,
which includes all investment criteria, please contact Helen Tocco at htocco@crthinkenergy.com.
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, Green Mountain Energy and NRG Residential Solutions – serve
more than 2 million residential and commercial customers throughout the
country. More information is available at www.nrgenergy.com.
Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy.
About Digicel Group
Digicel Group Limited is a leading global communications provider with
operations in 31 markets in the Caribbean, Central America and Asia
Pacific. After 12 years of operation, total investment to date stands at
over US$4.5 billion worldwide. The company is renowned for delivering
best value, best service and best network.
Digicel is incorporated in Bermuda and its markets comprise: Anguilla,
Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, the British Virgin
Islands, the Cayman Islands, Curacao, Dominica, El Salvador, Fiji,
French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique,
Nauru, Panama, Papua New Guinea, Samoa, St. Kitts & Nevis, St. Lucia,
St. Vincent & the Grenadines, Suriname, Tonga, Trinidad & Tobago, Turks
& Caicos and Vanuatu. Digicel also has coverage in St. Martin and St.
Barts in the Caribbean.
About CRTE
CRTE is a consulting firm focusing on renewable energy generation. We
assist project developers, financiers, governmental organizations, and
consumers and generators of renewable power. Since CRTE was founded in
2000, we have been supporting clients interested in acquiring on-site
renewable energy systems, developing renewable energy projects,
purchasing and selling electricity and renewable energy credits (RECs),
expanding and improving their renewable energy businesses and
technologies, and investing in renewable energy projects and businesses.
Working alongside CohnReznick and Reznick Capital Markets, RTE offers
one of the most comprehensive project advisory platforms in the
industry. RTE has assembled a team experienced in economic, financial
and policy analysis; project management; engineering; technology and
resource evaluation; and project feasibility studies.
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Source: NRG Energy, Inc. and Digicel
NRG Energy
Karen Cleeve, 609-524-4608
Karen.Cleeve@nrgenergy.com
or
Digicel
Group
Antonia Graham, +1-876-564-1708
Head of Group Public
Relations