Business & Finance
Business and Finance
Business and Finance
Tue, June 15, 2010 NRG Energy Completes Acquisition of South Trent Wind Farm
PRINCETON, N.J.--([ BUSINESS WIRE ])--NRG Energy, Inc. (NYSE: NRG) has completed the purchase of the South Trent wind farm near Sweetwater, Texas. The 101 megawatt (MW) wind farm, which came online in January 2009, consists of 44 Siemens 2.3 MW wind turbines capable of powering more than 80,000 homes when the wind farm is operating at maximum capacity.
"It is an outstanding generation asset that will help bring clean and sustainable energy from the wind-rich plains of west Texas to power homes and businesses across the state."
aThe South Trent wind farm will be a strong addition to NRGa™s growing wind portfolio,a said David Crane, NRG President and Chief Executive Officer. aIt is an outstanding generation asset that will help bring clean and sustainable energy from the wind-rich plains of west Texas to power homes and businesses across the state.a
The South Trent acquisition was announced in March of this year and approved by the Public Utility Commission of Texas (PUCT) on June 11. AEP Energy Partners, Inc. has a 20-year power purchase agreement for all of the generation from the site.
South Trent is the fourth plant in NRGa™s onshore wind portfolio. NRG owns and operates the 120 MW Elbow Creek wind farm near Big Spring, Texas and the 150 MW Langford wind farm near San Angelo, Texas. NRG also is a 50% owner of the 150 MW Sherbino wind farm near Fort Stockton, Texas, operated by BP Alternative Energy, North America. In addition to onshore wind, NRG is developing a diverse mix of low and no carbon generation, including new nuclear, solar, offshore wind, biomass and carbon sequestration to advance our vision of a low-cost, low-emission future.
About NRG
NRG Energy, Inc., a Fortune 500 company, owns and operates one of the countrya™s largest and most diverse power generation portfolios. Headquartered in Princeton, NJ, the Companya™s power plants provide more than 24,000 megawatts of generation capacitya"enough to supply more than 20 million homes. NRGa™s retail business, Reliant Energy, serves more than 1.6 million residential, business, commercial and industrial customers in Texas.
A past recipient of the energy industrya™s highest honorsa"Platts Industry Leadership and Energy Company of the Year awards, 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 ].
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 NRGa™s expectations regarding the South Trent wind farm and forward-looking statements typically can be identified by the use of words such as awill,a aexpect,a abelieve,a 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, 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, unanticipated outages at our generation facilities, the inability to implement value enhancing improvements to plant operations and companywide processes, and our ability to achieve the expected benefits and timing of our RepoweringNRG 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 NRGa™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 NRGa™s future results included in NRGa™s filings with the Securities and Exchange Commission at [ www.sec.gov ].
