NRG Solar and Eurus Energy’s Avenal Solar Facility Starts Generating Power
45-megawatt site is the largest solar photovoltaic generating facility in California
PRINCETON, NJ; August 7, 2011—NRG Solar, a subsidiary of NRG Energy, Inc. (NYSE: NRG), and Eurus Energy America Corporation have begun commercial operations at the 45-megawatt Avenal Solar Generating Facility, the largest solar photovoltaic (PV) generating facility in California.
When operating at full capacity, the three solar projects that comprise Avenal—Avenal Park, Sun City and Sand Drag—generate enough clean, renewable power to meet the needs of 36,000 homes, while creating as many as 200 new jobs in an economically challenged area. The facility, located in Kings County, was developed by Eurus and is owned jointly by Eurus and NRG.
“Only two years ago, NRG began its expansion into solar power by bringing online the largest photovoltaic plant in California at that time—today, we repeat that accomplishment by commencing operations at Avenal,” said Tom Doyle, President of NRG’s Solar and West Region. “We are excited to celebrate the success of our partnership with Eurus as we advance the development of solar power in California to help meet the state’s ambitious renewable energy goals.”
“Eurus Energy is committed to bringing well-located and highly viable renewable energy projects on-line in a responsible and timely manner” said Mark E. Anderson, President and CEO of Eurus Energy America. “Our ability to deploy capital and generate jobs locally in California while also helping the State in its drive towards a clean energy based economy is due to the collective efforts of many, including Kings County, the City of Avenal and PG&E.”
Power from the facility will be sold to Pacific Gas & Electric under separate 20-year power purchase agreements.
About Eurus Energy America
Eurus Energy America (www.eurusenergy.com) is the wholly owned subsidiary of Tokyo-based Eurus Energy Holdings (www.eurus-energy.com) and is responsible for North American renewable energy investment, now comprising more than 600 megawatts in wind and solar power generation. Eurus Energy Holdings is a global developer, owner and operator of renewable energy facilities, including both wind and solar, with more than 2,000 megawatts worldwide. Eurus Energy America, headquartered in San Diego, California, has been active in the renewable energy sector in the United States for over 20 years, beginning operations of its first renewable power projects in California in 1987.
About NRG and NRG Solar
NRG Energy, Inc., a Fortune 500 and S&P 500 Index company, owns and operates one of the country’s largest and most diverse power generation portfolios. Headquartered in Princeton, NJ, the Company’s power plants provide more than 25,000 megawatts of generation capacity—enough to supply approximately 20 million homes. NRG’s retail businesses— Reliant Energy and Green Mountain Energy Company—serve nearly 1.9 million residential, business, commercial and industrial customers.
NRG Solar LLC, a subsidiary of NRG, has more than 2,000 MW of photovoltaic and solar thermal projects under development or in construction across the southwestern United States. With major investments in solar and wind power, as well as electric vehicle infrastructure, NRG is working to help America transition to a clean energy economy. More information is available at www.nrgenergy.com and www.nrgsolarenergy.com.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include NRG’s expectations regarding the Agua Caliente Solar Project and forward-looking statements typically can be identified by the use of words such as “will,” “expect,” “believe,” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, weather conditions, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulation of markets and of environmental emissions, unanticipated outages at our generation facilities, the inability to access other financing arrangements, the inability to implement value enhancing improvements to plant operations and companywide processes, our ability to create and maintain successful partnering relationships.
NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the Securities and Exchange Commission at www.sec.gov.
Contacts:
NRG Energy
Media
Meredith Moore
609.524.4522
Lori Neuman
609.524.4525
Investors:
Nahla Azmy
609.524.4526
Stefan Kimball
609.524.4527
Eurus Energy America Corporation
Media:
Mark E. Anderson
858.587.5857