NRG CEO: A Republican-controlled House benefits nuclear power

The Republican takeover of the House presents opportunities for NRG Energy and Southern Co. because the majority of GOP lawmakers support nuclear power as part of a clean-energy bill. Mandated use of renewable sources may pass if nuclear facilities are considered, said David Crane, president and CEO of NRG. "A lot of the things we're trying to do in Washington to move forward with zero- and low-carbon generation is something that at least the mainstream of the Republican Party wants to support -- nuclear power in particular," he said. Bloomberg
http://www.bloomberg.com/news/2010-11-03/nuclear-power-gains-clout-in-republican-house-takeover-nrg-says.html

Japan to lend up to $4bn for NRG Energy's Texas nuclear plant project

The Japan Bank for International Cooperation (JBIC) plans to lend up to $4bn to fund a nuclear plant project in Texas, which would be the country’s first state financing for an atomic power station abroad.

 

According to Bloomberg, government-run JBIC will probably offer a loan provided that the project is guaranteed by the US government, said Tadashi Maeda, head of the bank’s corporate planning department. The loan may be as large as $4bn, said Toshiro Kudama, an official at Tokyo Electric Power Company (TEPCO), which has an accord to invest in the initiative.

 

The $10bn programme led by NRG Energy will use reactors made by Toshiba, the Japanese company that bought Westinghouse Electric in 2006. A loan deal would encourage utilities to boost investment in nuclear projects abroad, in line with Prime Minister Naoto Kan’s goal of exporting infrastructure technology to spur the economy.

 

TEPCO is holding talks with JBIC on a loan for the Texas project, aiming to sign a preliminary financing agreement in 2012, Kudama, executive general manager of the utility’s international affairs department, said in an interview.

 

Nuclear Innovation North America LLC, a joint venture between Princeton, New Jersey-based NRG Energy and Tokyo-based Toshiba, plans to add two 1350 MW reactors in Texas at a cost of $10bn or less, with commercial operations slated to begin in 2016 and 2017. Nuclear Innovation Chief Executive Officer Steve Winn has said the partners applied for about $7bn in US federal loan guarantees and as much as $4bn of Japanese aid.

 

Maeda said JBIC may team up with commercial lenders to offer a loan covering about half the Texas project cost, without elaborating. The venture’s cost estimate is preliminary, he said.

 

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.

Related articles by Zemanta

• NRG to Acquire Green Mountain Energy (online.wsj.com)
• UPDATE 2-NRG to buy Green Mountain Energy for $350 million (reuters.com)
• NRG Energy to Acquire Green Mountain Energy Company, the Leading Retail Provider of Clean Energy Products and Services (eon.businesswire.com)
• NRG Energy Picks Up Clean Energy Retailer Green Mountain For $350M In Cash (techcrunch.com)
• NRG paying $350 million for Green Mountain Energy (marketwatch.com)

Entergy is looking to sell Vt. nuclear plant, source says

Is Entergy trying to sell Yankee?

By BOB AUDETTE / Reformer Staff

Entergy is seeking to sell its Vermont Yankee nuclear plant and has piqued the interest of Exelon and NRG Energy, said Jeff Beattie of Energy Daily. Entergy refused to respond to the report but said that as part of its "point-of-view" planning, it would "consider buying or selling any asset or business depending on what option creates the most value," said spokesman Mike Burns. Brattleboro Reformer (Vt.)