NRG Yield, Inc. Completes Acquisition of Energy Systems Company
PRINCETON, N.J. -- December 31, 2013
NRG Yield, Inc. (NYSE:NYLD), has completed its acquisition of the assets of
privately held Energy Systems Company (ESC) of Omaha, Neb., effective today.
“Our successful completion of this acquisition is the first example of NRG
Yield fulfilling the promise of growth by executing quickly on a third-party
transaction that adds value to our portfolio,” said David Crane, NRG Yield’s
Chairman and Chief Executive Officer.
ESC is NRG Yield’s first acquisition outside its relationship with parent
company NRG Energy, and the ninth thermal generation project in its portfolio.
About NRG Yield
NRG Yield owns a diversified portfolio of contracted renewable and
conventional generation and thermal infrastructure assets in the U.S.,
including fossil fuel, solar and wind power generation facilities that provide
the capacity to support more than one 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 ten locations. NRG Yield is
traded on the New York Stock Exchange under the symbol NYLD. Visit
nrgyield.com for more information.
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 our Adjusted EBITDA, cash
available for distribution, expected earnings, future growth and financial
performance, and typically can be identified by the use of words such as
“expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar
terms. Although NRG Yield 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, the condition of capital markets
generally, our ability to access capital markets, unanticipated outages at our
generation facilities, adverse results in current and future litigation,
failure to identify or successfully implement acquisitions (including receipt
of third party consents and regulatory approvals), our ability to enter into
new contracts as existing contracts expire, our ability to obtain anticipated
Section 1603 Cash Grants and our ability to maintain and grow our quarterly
NRG Yield 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 Yield’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 Yield’s
future results included in NRG Yield’s filings with the Securities and
Exchange Commission at www.sec.gov. In addition, NRG Yield makes available
free of charge at www.nrgyield.com, copies of materials it files with, or
furnish to, the SEC.
NRG Yield, Inc.
Michelle Tsai, 609-524-5324
David Gaier, 609-524-4529
Chad Plotkin, 609-524-4526
Dan Keyes, 609-524-4527
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