Business & Finance
Business and Finance
Business and Finance
Tue, December 30, 2008
Mon, December 29, 2008 NRGs Second Wind Farm, Elbow Creek, Achieves Commercial Operation
PRINCETON, N.J.--([ BUSINESS WIRE ])--NRG Energy, Inc. (NYSE: NRG) has completed construction on its second wind farm, the 122-megawatt (MW) Elbow Creek Wind Project in Howard County near Big Spring, Texas. The wind farm, was developed by NRG subsidiary Padoma Wind Power LLC, and is being dispatched by NRG Texas.
The Elbow Creek Wind Project consists of 53 Siemens wind turbine generators, each able to generate up to 2.3 MW of power. Early land rights to the project were acquired from Wind Plus Holdings, Inc.
"Elbow Creek is our second wind project and another step forward in our low- and no-carbon emission investments as part of our RepoweringNRG program," said David Crane, President and CEO of NRG Energy. "Wind complements our zero-emission nuclear generation as well as our low-carbon initiatives to satisfy growing electricity demand while reducing our overall carbon intensity fleetwide."
NRG's first wind project, the 150-MW Sherbino I Wind Farm in Pecos County, Texas, came online in October of this year. Sherbino I is a 50-50 joint venture with BP Wind Energy North America Inc.
"Additional wind power provides valuable diversity to NRG's generation portfolio and helps Texas meet its renewable energy goals," said Jan Paulin, President and CEO, Padoma Wind Power. "Elbow Creek, along with Sherbino, is now generating zero-fuel, zero-emission electricity for Texans across the ERCOT grid."
About NRG
NRG Energy, Inc., a Fortune 500 company, owns and operates one of the country's largest and most diverse power generation portfolios. NRG's 48 plants provide approximately 24,000 megawatts of generation capacity—enough to power nearly 20 million homes. In November 2007, NRG won two of the industry's highest honors—Platts Industry Leadership and Energy Company of the Year awards. Headquartered in Princeton, NJ, NRG is a member of the U.S. Climate Action Partnership (USCAP), a group of business and environmental organizations calling for mandatory legislation to reduce greenhouse gas emissions. More information is available at [ www.nrgenergy.com ]. More information on Padoma Wind Power is available at [ www.padoma.com ].
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 Elbow Creek Wind Project 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, weather conditions, changes in government regulation of markets and of environmental emissions, unanticipated outages at our generation facilities, and the inability to implement value enhancing improvements to plant operations and companywide processes.
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 ].
