“We are looking for the leader who can harness the power of disruptive technology.” NRG Energy, the biggest independent power producer in the U.S., is undergoing a transformation. Last week, the company announced it is splitting up its assets into three separate entities: NRG Business, NRG Home and NRG Renew. NRG Business will encompass the… Keep reading →
Russia’s President Vladimir Putin said he will deposit his salary in a shady bank targeted by western sanctions. The bank deals a lot with the Kremlin and Russian energy businesses, including Gazprom. “Little has been known about Bank Rossiya, which has risen to become the country’s 15th largest bank by assets last year from 54th… Keep reading →
It’s no secret that the rise of distributed generation is fundamentally altering the traditional centralized power generation, transmission and delivery system, but utilities are dealing with these changes in different ways and NRG appears to be embracing new models instead of fighting to preserve the status quo. In this letter originally printed on the company’s… Keep reading →
Quick Take: CNBC is out with a loooooonnnnnngggg article about the “dirty clean energy battle.” In it, NRG Energy CEO David Crane calls utilities “shockingly stupid.” Now you could certainly call utility CEOs (as a group) conservative or slow-to-react or even timid. But they’re not stupid. Crane and others like him often complain bitterly about… Keep reading →
On Friday, March 1st, 2013, NRG Energy President & CEO David Crane took the stage at the MIT Energy Conference to offer the Friday Keynote Address to a packed theater.
MIT Energy Initiative Executive Director Melanie Kenderdine moderated the Friday Keynote in a one-on-one Davos-style conversational interview. In it, she asked Crane to offer his advice to the yet-to-be-named incoming Department of Energy nominee. The question timed nicely with the White House announcement on the following Monday, which put forward MIT Professor and MIT Energy Initiative Director Dr. Ernest J. Moniz as the nominee for Secretary of the DOE. 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.
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 →
Electric vehicle charging stations are now headed home, literally.
GE Energy Industrial Solutions has joined with Lowe’s to offer consumers its new GE WattStation Wall Mount Electric Vehicle (EV) Charging Station. The station will charge EV’s in less time than standard overnight chargers and will soon be available for both home and commercial use, the company says. Keep reading →
A Brave New World Powered by Distributed Energy
By David CraneIn just a few years, Americans will soon produce the majority of the power they consume at their home or office, primarily through distributed solar arrays on their roof or over their driveways or parking lots. If they come up short, they can tap the battery in their electric car or an energy converting appliance… Keep reading →