NRG Energy Purchases Solar Power Partners

Brian Hicks

Written By Brian Hicks

Posted November 22, 2011


UPDATED: Visit our resource page for updated information on investing in the solar sector.


NRG Energy, Inc. (NYSE: NRG) announced Monday that it has purchased the San Francisco-based solar energy company, Solar Power Partners.

NRG has not released the terms of the deal. Bloomberg Businessweek says the “… acquisition will add 30 megawatts of distributed solar projects in operation or under construction to its portfolio.”NRGLogo

The press release says NRG will also have the development rights to Solar Power Partners’ development projects in California, Hawaii, Arizona, Connecticut, New Mexico, Massachusetts, New Jersey, Ontario and Puerto Rico. Solar Partner Partners’ sites range from grocery stores and hospitals to universities and airports.

“With California’s goal to install 12,000 megawatts of distributed generation by 2020, and the increase in smart energy choices American businesses are demanding, this acquisition will place NRG at the head of the pack as the solar industry moves toward smaller solar projects that connect directly to the grid,” said Tom Doyle, President, NRG Solar.

NRG is based in Princeton, New Jersey and has been searching for a way to expand their smaller solar systems market. “NRG Solar is currently developing or building more than 2,000 megawatts of solar energy projects, according to a statement released today, reports Bloomberg Businessweek.

That’s all for now,


Angel Publishing Investor Club Discord - Chat Now

Brian Hicks Premium


Hydrogen Fuel Cells: The Downfall of Tesla?

Lithium has been the front-runner in the battery technology market for years, but that is all coming to an end. Elon Musk is against them, but Jeff Bezos is investing heavily in them. Hydrogen Fuel Cells will turn the battery market upside down and we've discovered a tiny company that is going to make it happen...

Sign up to receive your free report. After signing up, you'll begin receiving the Energy and Capital e-letter daily.