For 100 years, Americans have lived with what amounts to a corner store for electricity, but the smart grid means someone, somewhere, will start building Walmarts.
And the Sam Waltons of the power grid won’t wait for a regulatory invitation to start.
Steve Corneli, Senior Vice President, Policy and Strategy of NRG, challenged the experts gathered at GridWeek 2012 in Washington, DC last week to think of the smart grid as an interstate highway that will enable entire new forms of commerce. Keep reading →
Decarbonization of the US electric grid is an almost impossible task. But in the absence of climate legislation, the most effective carbon reductions might fall to electric power companies that burn a lot of the black stuff, rather than Congress.
NRG Energy has 7.3GW capacity in coal assets and 11.1GW in natural gas. But those figures are dramatically reversed in generation: 48TWh (66%) comes from coal and 14TWh (20%) from natural gas. The Princeton-based company could double those figures pending its $1.7 billion acquisition of GenOn, which would bring its fleet to 46GW and make it the largest independent power generation company in the US. Keep reading →
It’s not the whole answer but it’s an important step in the right direction.
That’s the take of America’s nascent offshore wind industry on the U.S. Senate Finance Committee’s recent approval of a plan to extend an investment tax credit on offshore wind installations by one year until the end of 2013. Keep reading →
NRG Energy said Sunday that it plans to acquire rival GenOn Energy in a $1.7 billion all-stock deal that would create the largest competitive power company in the U.S.
The combined company would have about 47,000 megawatts of power plants across the U.S. and have an enterprise value of $18 billion, the companies said. NRG President and Chief Executive David Crane will maintain his current positions at the combined company. GenOn Chairman and CEO Edward R. Muller will join the NRG board as vice chairman. Both companies had considered merger opportunities over the last few years as a way to cut costs and expand their footprints to better compete. Then, Mr. Muller said he contacted Mr. Crane this past spring to discuss a potential deal.
A developer hoping to build America’s first offshore wind farm is taking another look at its costs after reports attacked its plans as too expensive, technically unproven, and likely to have a negative effect on the local economy.
Fishermen’s Energy, a consortium of fishing companies, plans to build the wind farm in New Jersey waters three miles off the coast in a five-turbine pilot project that it hopes will pave the way for a bigger installation in federal waters farther offshore. Keep reading →
California has already been leading the country in solar developments as it races towards its goal of 30% renewable power by 2020.
On Monday, yet another solar plant was added to the mix in San Bernardino County. Spain’s Abengoa Solar announced that construction was in full force for its newest 280 MW CSP Mojave Solar project that just signed a power purchase agreement with PG&E. Keep reading →
NRG Energy is continuing its expansion. The generation firm’s portfolio now includes nuclear and coal in addition to wind and solar and it is increasingly serving customers around the globe.
Last Friday, NRG announced two separate acquisitions that will both broaden its portfolio and add to its generating capacity: the company bought a 250 MW solar photovoltaic (PV) plant, California Valley Solar Ranch (CVSR), from SunPower, and completed acquisition of Philadelphia-based Energy Plus Holdings, an electrical retail company that specializes in providing customers with green energy options for home and office power. Keep reading →