NRG Energy Inc.
) renewable division NRG Solar announced the commencement of
operation at its 66 megawatt ("MW") Alpine Generating station in
Los Angeles County, California. The (AC) photovoltaic facility
will generate adequate energy to power around 53,000 homes at
peak hours during the daytime.
The unit's electricity output will be bought by
) for a period of 20 years. The aim behind this and other similar
large-scale solar projects is to diminish the company's
dependence on fossil fuels and generate clean energy during the
warmest part of the day when electricity demand is at its
Apart from Alpine Station, NRG Energy has seven projects lined
up some of which are completed and some currently underway. These
include the Agua Caliente, Borrego, Avenal, Blythe and California
Solar Valley Ranch facilities which are presently in the
construction phase while Avra Valley and Roadrunner in Mexico
have been completed and brought into service.
NRG Energy is also vying for a ninth solar initiative, Ivanpah
Solar Electric Generating System located in California which is
anticipated to come online by the end of 2013.
This solar project will help in cutting back carbon dioxide
emissions by about 36,000 tons and is expected to provide green
energy sourced power at cost-competitive prices to indigenous
The Alpine project is another profitable addition to NRG
Energy's green asset basket and will support California's
proposed 33% renewable energy target. The company's strategic
solar programs will help maintain its momentum given the U.S.
government's increasing steps towards promoting clean electricity
in the future.
Moreover, as per the Energy Information Administration
("EIA"), renewable consumption is poised to witness a 3.6% jump
in 2013 which will serve well the company's growth
However, natural gas and shale sources continue to be the most
popular among energy producers owing to their abundance in the
U.S. These cheap and most abundant sources provide stiff
competition to renewables. As of now, NRG Energy holds a Zacks
Rank #3 (Hold).
Other utilities keen on upgrading its green asset portfolio
NextEra Energy Inc.
Dominion Resources Inc.
Headquartered in Princeton, NJ, NRG Energy together with its
subsidiaries operates as an integrated wholesale power generation
and retail electricity company.
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