New Solar Installation Helps California Move Closer to Clean Energy Goal
PRINCETON, N.J.--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG), the country's largest independent power producer, and its subsidiary NRG Yield, Inc. (NYSE:NYLD, NYLD.A), today announced that a new 20 megawatt (MW) photovoltaic (PV) facility is now online in Southern California. The NRG Solar Oasis facility will generate clean, reliable solar power, sold under a 20-year power purchase agreement with Southern California Edison. The project was jointly funded by both NRG and NRG Yield through the previously announced partnership between both companies.
"We are proud to continue to bring renewable energy options to the residents of Southern California, and this project is a great example of our focus on customers and our desire to provide them with the energy solutions they need and want," said Craig Cornelius, senior vice president, NRG Energy. "We are happy to see that the United States Air Force values clean energy and has partnered with us on this project that helps California meet its renewable energy goals."
The project was built on approximately 180 acres of land located in the western Mojave Desert, five miles northeast of Palmdale, Calif., the majority of which is leased from the United States Air Force.
Approximately 98,000 PV solar panels onsite are expected to generate enough electricity to power approximately 3,280 homes. At this rate, the project will avoid 41,000 tons of carbon emissions, equivalent to taking 8,600 cars off the road.
Construction began in summer 2015, and the project created approximately 250 jobs during construction.
NRG is the leading integrated power company in the U.S., built on the strength of the nation's largest and most diverse competitive electric generation portfolio and leading retail electricity platform. A Fortune 200 company, NRG creates value through best in class operations, reliable and efficient electric generation, and a retail platform serving residential and commercial businesses. Working with electricity customers, large and small, we continually innovate, embrace and implement sustainable solutions for producing and managing energy. We aim to be pioneers in developing smarter energy choices and delivering exceptional service as our retail electricity providers serve almost 3 million residential and commercial customers throughout the country. More information is available at www.nrg.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy.
About NRG Yield
NRG Yield owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the United States, including fossil fuel, solar and wind power generation facilities that provide the capacity to support more than two million American homes and businesses. Our thermal infrastructure assets provide steam, hot water and/or chilled water, and in some instances electricity, to commercial businesses, universities, hospitals and governmental units in multiple locations. NRG Yield's Class C and Class A common stock are traded on the New York Stock Exchange under the symbols NYLD and NYLD.A, respectively. Visit nrgyield.com for more information.