NRG Energy:Reliant Acquisition Brings Renewable Opportunities
April 30 2009 - 9:33AM
Dow Jones News
NRG Energy Inc. (NRG) said Thursday its acquisition of Reliant
Energy Inc.'s (RRI) retail business will provide new
renewable-generation opportunities for the power company.
NRG Chief Executive David Crane said the company will consider a
variety of technologies such as rooftop solar panels and other
opportunities at the customer level.
"We expect to be very active," Crane said during a conference
call with analysts.
The company said Thursday that its acquisition of Reliant's
retail business will close Friday, earlier then expected. NRG
Energy is buying the Houston company's Texas retail business -
including the Reliant name - for $287.5 million in cash plus
working capital.
Crane said he expects the acquisition to add to cash flow and
earnings before interest, taxes, depreciation and amortization
right away.
-By Mark Peters, Dow Jones Newswires; 201-938-4604;
mark.peters@dowjones.com