NRG and NRG Yield Unveil New 20 MW Solar Facility in Southern California
New Solar Installation Helps California Move Closer to Clean
PRINCETON, N.J.--(BUSINESS WIRE)--Mar. 7, 2016--
NRG Energy, Inc. (NYSE:NRG), the country’s largest independent power
producer, and its subsidiary NRG Yield, Inc. (NYSE:NYLD, NYLD.A), today
announced that a new 20 megawatt (MW) photovoltaic (PV) facility is now
online in Southern California. The NRG Solar Oasis facility will
generate clean, reliable solar power, sold under a 20-year power
purchase agreement with Southern California Edison. The project was
jointly funded by both NRG and NRG Yield through the previously
announced partnership between both companies.
“We are proud to continue to bring renewable energy options to the
residents of Southern California, and this project is a great example of
our focus on customers and our desire to provide them with the energy
solutions they need and want,” said Craig Cornelius, senior vice
president, NRG Energy. “We are happy to see that the United States Air
Force values clean energy and has partnered with us on this project that
helps California meet its renewable energy goals.”
The project was built on approximately 180 acres of land located in the
western Mojave Desert, five miles northeast of Palmdale, Calif., the
majority of which is leased from the United States Air Force.
Approximately 98,000 PV solar panels onsite are expected to generate
enough electricity to power approximately 3,280 homes. At this rate, the
project will avoid 41,000 tons of carbon emissions, equivalent to taking
8,600 cars off the road.
Construction began in summer 2015, and the project created approximately
250 jobs during construction.
NRG is the leading integrated power company in the U.S., built on the
strength of the nation’s largest and most diverse competitive electric
generation portfolio and leading retail electricity platform. A Fortune
200 company, NRG creates value through best in class operations,
reliable and efficient electric generation, and a retail platform
serving residential and commercial businesses. Working with electricity
customers, large and small, we continually innovate, embrace and
implement sustainable solutions for producing and managing energy. We
aim to be pioneers in developing smarter energy choices and delivering
exceptional service as 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.
About NRG Yield
NRG Yield owns a diversified portfolio of contracted renewable and
conventional generation and thermal infrastructure assets in the United
States, including fossil fuel, solar and wind power generation
facilities that provide the capacity to support more than two million
American homes and businesses. Our thermal infrastructure assets provide
steam, hot water and/or chilled water, and in some instances
electricity, to commercial businesses, universities, hospitals and
governmental units in multiple locations. NRG Yield’s Class C and Class
A common stock are traded on the New York Stock Exchange under the
symbols NYLD and NYLD.A, respectively. Visit nrgyield.com for more
This communication contains forward-looking statements that may state
NRG’s and NRG Yield’s or their management’s intentions, beliefs,
expectations or predictions for the future. Such forward-looking
statements are subject to certain risks, uncertainties and assumptions,
and typically can be identified by the use of words such as “will,”
“expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and
similar terms. Although NRG and NRG Yield believes that their
expectations are reasonable, they 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, risks
and uncertainties related to the performance of the facility.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160307005213/en/
Source: NRG Energy, Inc.
NRG Energy and NRG YIELD
Kevin Cole, CFA, 609-524-4526