NRG Energy, Inc.
) announced that it has launched the NRG Community 1 Solar
Generating Facility in California. The 6-megawatt (MW) facility is
located at the Imperial Valley Campus of San Diego State
The NRG Community 1 Solar Generating Facility has been jointly
developed by Californian electric power project development firm,
Sol Orchard LLC, and the Center for Energy Sustainability.
Aerospace and defense giant
The Boeing Company
) unit Boeing Defense, Space & Security has offered
engineering, procurement and construction services for this
NRG Energy has utilized over 25,000 modules in the project,
covering around 37 acres of land. At full capacity, the facility
can provide emission-free electricity to roughly 2,200 homes. This
program developed a unique opportunity for homes and facilities
that are not suitable for installing rooftop systems.
NRG Energy will sell the entire output from the facility to the
Imperial Irrigation District under a 25-year power purchase
agreement. Subsequently, the Imperial Irrigation District will sell
electricity at a competitive rate to the interested customers
through a community solar program.
It is evident from past records that NRG Energy continues to follow
a solar energy-focused strategy. On Mar 24, 2014, the company
announced that its solar asset-base has crossed 1,200-MW mark. In
May 2014, the company's subsidiary NRG Residential Solar Solutions
developed a community solar array in Rutland, VT, under its Vermont
Community Solar Project. NRG Energy will be selling the output from
the 150-kilowatt solar farm to 50 customers of Green Mountain Power
We appreciate NRG Energy's steady effort towards expansion of its
renewable portfolio through organic as well as inorganic
initiatives. In Mar 2014, the company acquired U.S. solar sales and
installation provider, Roof Diagnostics Solar. In addition,
NRG Energy acquired considerably all of the assets of Edison
Mission Energy, a unit of
NRG Energy's strong financial position supports its steady
expansion initiatives. As of Mar 31, 2014, the company had cash and
cash equivalents of $3.19 billion and total available fund of $1.3
billion under the credit facility.
NRG Energy currently has a Zacks Rank #1 (Strong Buy). Another
stock in the utility sector looking equally good is
), carrying the same rank as NRG Energy.
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