"South Trent is a proven performer and, as a renewable asset with a long term sales agreement with a highly credible offtaker, is indicative of the type of renewable project in which we are looking to invest in our core markets," said David Crane, NRG President and Chief Executive Officer.
"We will continue to look both to develop and acquire contracted land-based and offshore wind energy projects as well as solar and other sustainable technology-based assets where it makes sense as we expand our clean energy portfolio."
AEP Energy Partners, Inc. has a 20-year power purchase agreement for all of the generation from the site.
The proposed acquisition must be approved by the Public Utility Commission of Texas (PUCT). As a result of the PUCT approval requirement and pending satisfaction of certain other conditions precedent, the acquisition is expected to close in the second quarter of this year.
Upon successful conclusion of the acquisition, South Trent will become the fourth plant in NRG’s onshore wind power portfolio. NRG owns and operates the 120 MW Elbow Creek wind farm near Big Spring, Texas and the 150 MW Langford wind farm near San Angelo, Texas.
NRG is also a 50% owner of the 150 MW Sherbino wind farm near Fort Stockton, Texas operated by BP Alternative Energy, North America. NRG’s low- and no-carbon operating assets, as well as assets in development, include new nuclear, photovoltaic solar and solar thermal, onshore and offshore wind energy, biomass and a commercial-scale carbon capture project for fossil-fueled generation.
NRG Energy, Inc., a Fortune 500 company, owns and operates one of the country’s largest and most diverse power generation portfolios. Headquartered in Princeton, NJ, the Company’s power plants provide more than 24,000 megawatts of generation capacity–enough to supply more than 20 million homes. NRG’s retail business, Reliant Energy, serves more than 1.6 million residential, business, commercial and industrial customers in Texas.
A past recipient of the energy industry’s highest honors–Platts Industry Leadership and Energy Company of the Year awards, NRG is a member of the U.S. Climate Action Partnership (USCAP), a group of business and environmental organizations calling for mandatory legislation to reduce greenhouse gas emissions.