Boston, MA 04/08/2014 (wallstreetpr) – The Company NRG Energy Inc (NYSE:NRG) has had an eventful start this year with strategic acquisitions coming up and opening of new power plants. All in all, the year for NRG Energy looks good as it takes the road forward, which will definitely lead to further growth and development.
Opening of a Solar Plant
NRG Energy Inc (NYSE:NRG) along with Google Inc (NASDAQ:GOOG) and BrightSource Energy, Inc. has opened the Ivanpah Solar Plant, which is situated in the Mojave Desert and is spread across an area of five miles. The plant has a capacity of lighting up around 140k homes at a time. The project is speculated to be the biggest of its kind and might even be the last due to the increasing costs of setting up such projects. The completion of the plant took around 4 years and thousands of workers who could finally make this happen. But once this plant starts running successfully it might become easier to bring the costs down due to repetition and increasing reliability on such projects.
When asked about whether he would like to invest further in such projects, the Chief of NRG Energy said that the company has already invested $300 million in the Ivanpah thermal power plant project and now the company would wait for a few months to see if this one works before starting to think about future investments in such projects.
Acquisition of the Edison Mission Energy
NRG Energy has completed its strategic acquisition of Edison Mission Energy and also of Dominion Resources, Inc. (NYSE:D) electricity business for $2635 and $165 million respectively. The Company NRG Energy after successfully completely these two acquisitions is looking forward to expanding its business and improving its portfolio. With these acquisitions NRG Energy Inc (NYSE:NRG) is also looking forward to adding more than 60k customer accounts to its customer base and nearly doubling its presence in the northeast. The acquisitions are also predicted to make NRG Energy the second largest energy-generating giant in the U.S. with the production capacity of 53k megawatts.
