Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Friday, September 17, 2010

NRG Energy to Acquire Green Mountain Energy in $350 Million Transaction

NRG Energy Aiming to Expand Renewable Energy Customers
NRG Energy has agreed to buy Green Mountain Energy for $350 million to add customers willing to pay premium prices for renewable energy, Bloomberg Businessweek reported. NRG said it would fund the purchase with cash on hand. The Dallas Morning News quoted NRG CEO David Crane as saying: "Increasingly NRG, with our expanding portfolio of wind, solar and biomass initiatives, working with and through Green Mountain, is poised to become the clean energy provider of choice for Americans who want to make a difference for the environment."

NRG intends to run Green Mountain Energy as a stand-alone company with NRG, Smart Energy News reported. NRG said it expected the deal to be completed by mid-November.
Bloomberg Businessweek, Dallas (Texas) Morning News Texas Energy & Environment blog, Fox Business, Smart Energy News, Sept. 16.
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