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NRG Completes Repowering and Modernization Project at 550 Megawatt El Segundo Energy Center

  NRG Completes Repowering and Modernization Project at 550 Megawatt El
  Segundo Energy Center

   – State-of-the-art natural gas facility supports renewable integration,
               employs new fast-start, air-cooled technology –

Business Wire

EL SEGUNDO, Calif. -- August 2, 2013

NRG Energy, Inc. (NYSE: NRG), has entered commercial operation at its El
Segundo Energy Center, a natural gas–fueled, combined-cycle generating
facility located near Los Angeles, CA. The plant produces 550 megawatts (MW)
of efficient and flexible electricity to the California grid – enough to
supply power to nearly 450,000 homes. The fast-start, rapid response power
generation employed by El Segundo delivers more than half of its generating
capacity in less than 10 minutes and the balance in less than 1 hour; allowing
it to back up and enable greater use of intermittent renewable technology.

“Our modernization efforts at El Segundo ideally complement California’s
growth of intermittent renewable energy sources, such as wind and solar, in
support of the State’s renewable portfolio standard while maintaining its
tradition of being a good neighbor to the surrounding coastal communities,”
said John Chillemi, President of NRG Energy’s West Region. “In addition, we
have worked with the community to improve the visual aesthetics of the site by
incorporating native landscaping, installing a new picturesque sea wall, and
affording improved coastal views with the lower profile of the plant.”

The El Segundo Energy Center project contributed to other significant
environmental benefits, including the retirement of a less efficient, vintage,
335 MW steam boiler unit constructed in 1964 that relied on ocean water for
cooling. The new Energy Center relies on reclaimed water for its state-of-the
art, air-cooled, combined cycle operation, reducing the use of potable water
at the site by nearly 90 percent. The El Segundo Energy Center meets or
exceeds the State’s and South Coast’s strict air quality standards and will
use 30 percent less natural gas per megawatt produced than the original steam
boilers, thereby supporting California’s objective of meeting 1990 greenhouse
gas levels by 2020. Further enhancing the aesthetics of the site, the project
included the removal of two large oil tanks, which improves community views of
the local coastline.

During the peak period of construction, this project created nearly 400 jobs
in the local community. The project is expected to increase annual tax revenue
in excess of $3 million per year. No state or local tax dollars were utilized
for this project.

Through a 10-year power purchase agreement, Southern California Edison will
obtain the entire output of the facility.

The El Segundo Energy Center is one of several NRG assets that are subject to
a Right of First Offer Agreement between NRG Energy Inc., and the newly
created NRG Yield, Inc. (NYSE: NYLD).

About NRG

NRG is at the forefront of changing how people think about and use energy. We
deliver cleaner and smarter energy choices for our customers, backed by the
nation’s largest independent power generation portfolio of fossil fuel,
nuclear, solar and wind facilities. A Fortune 500 company, NRG is challenging
the U.S. energy industry by becoming the largest developer of solar power,
building the first privately-funded electric vehicle charging infrastructure,
and providing customers with the most advanced smart energy solutions to
better manage their energy use. In addition to 47,000 megawatts of generation
capacity, enough to supply nearly 40 million homes, our retail electricity
providers – Reliant, Green Mountain Energy and Energy Plus – serve more than
two million customers. More information is available at www.nrgenergy.com.
Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy.

NRG 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 Company’s El Segundo facility 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,
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, and our ability to achieve the expected benefits and
timing of our power generation projects. 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.

Contact:

NRG
Media:
Jeff Holland, 760-710-3828
jeff.holland@nrgenergy.com
or
Dave Knox, 713-537-2130
david.knox@nrgenergy.com
or
Investors:
Chad Plotkin, 609-524-4526
chad.plotkin@nrgenergy.com
 
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