NRG Energy moves more assets to spinoff company

Courtesy of Times of Trenton

Courtesy of Times of Trenton

NRG Energy, Inc. (NYSE: NRG), with co-headquarters in Houston and New Jersey, has moved more alternative energy assets to its spinoff company NRG Yield, Inc. (NYSE: NYLD).

The assets consist of wind plants in West Virginia, Oklahoma, Nebraska, and include the Walnut Creek natural gas facility in Industry, California.

NRG Yield assumed a $737 million project debt and paid $480 million in cash in order to acquire 785 megawatts of operating capacity, in a statement from NRG Energy.

According to NRG Energy and NRG Yield CEO David Crane, “This transaction, when coupled with the remaining opportunities that may be presented by NRG Energy, gives us confidence in both our strategy and dividend growth targets.”

In September NRG Energy, Hilcorp Energy, and JX Nippon O&G Exploration Corp. broke ground on a new project that will be the world’s largest carbon capture facility in Fort Bend. Read more…

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