NRG Buys Solar Power Partners to Expand in Distributed Solar
NRG Energy Inc. (NRG), which operates plants that can power more than 20 million homes, purchased solar project developer Solar Power Partners.
NRG didn’t disclose the terms of the deal. The acquisition will add 30 megawatts of distributed solar projects in operation or under construction to its portfolio, NRG said today in a statement.
The company, based in Princeton, New Jersey, is looking to expand in the market for smaller solar systems installed on businesses’ roofs and other property, known as distributed solar.
“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,” Tom Doyle, president of NRG Solar LLC, the company’s solar unit, said in the statement.
NRG Solar is currently developing or building more than 2,000 megawatts of solar energy projects, according to the statement.
To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
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