NRG Energy, Inc., together with its subsidiaries, operates as a wholesale power generation company. The company engages in the ownership, development, construction, and operation of power generation facilities. For more information regarding the most selected information hitting the Stock Market, make sure to visit the Most Exclusive and Leading in Depth newsletter website at: http://www.wallstreetgrand.com/.
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NRG Energy, Inc. (NYSE:NRG) has signed a binding letter of intent to purchase the South Trent wind farm near Sweetwater, Texas. The 101 megawatt wind farm came online in January 2009. It consists of 44 Siemens 2.3 MW wind turbines capable, at maximum capacity, of powering more than 80,000 homes. The proposed acquisition must be approved by the Public Utility Commission of Texas (PUCT). As a result of the PUCT approval requirement and pending satisfaction of certain other conditions precedent, the acquisition is expected to close in the second quarter of this year.
“South Trent is a proven performer and, as a renewable asset with a long term sales agreement with a highly credible off taker, is indicative of the type of renewable project in which we are looking to invest in our core markets,” said David Crane, NRG President and Chief Executive Officer. “We will continue to look both to develop and acquire contracted land-based and offshore wind projects as well as solar and other sustainable technology-based assets where it makes sense as we expand our clean energy portfolio.”
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