In addition to 30 megawatts (MW) of distributed solar projects in operation or under construction, NRG also will secure development rights to Solar Power Partners’ extensive pipeline of development projects in California, Hawaii, Arizona, Connecticut, New Mexico, Massachusetts, New Jersey, Ontario and Puerto Rico. SPP sites include grocery stores, hospitals, universities, office buildings, municipal buildings, schools and airports.
“With California’s goal to install 12,000 megawatts of distributed generation by 2020, and the increase in smart energy choices American businesses are demanding, 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,” said Tom Doyle, President, NRG Solar. “Solar Power Partners has been highly successful forging partnerships to develop distributed solar projects, and I believe the company will make NRG the leading provider for the increasing number of businesses seeking solar solutions to manage their energy costs.”
Solar Power Partners will become an integral part of NRG Solar, an NRG subsidiary. The company has completed almost 50 commercial solar facilities and brings a team with deep experience developing, financing and operating projects. Solar Power Partners also specializes in creating long-term partnerships with customers to tailor each solar system to meet specific needs.
“We are excited to be joining forces with NRG Solar and believe that our combined platform will allow us to accelerate our growth and to bring more clean solar power to the market,” said Bob Powell, Solar Power Partners President and CEO, who will continue with the company as a senior executive in NRG Solar.
NRG is at the forefront of changing how people think about and use energy. A Fortune 500 company, NRG is a pioneer in developing cleaner and smarter energy choices for our customers: whether as one of the largest solar power developers in the country, or by building the first privately funded electric vehicle charging infrastructure or by giving customers the latest smart energy solutions to better manage their energy use. Our diverse power generating facilities can support over 20 million homes and our retail electricity providers—Reliant, Green Mountain Energy Company and Energy Plus—serve more than two million customers.
One of America’s premier independent solar power producers, Solar Power Partners, Inc. (SPP) helps businesses, municipalities, schools and universities, and institutional customers embrace solar energy. SPP develops, owns, and operates distributed solar energy facilities (SEFs) and sells solar-generated electricity through solar Power Purchase Agreements (PPA), long-term energy financing solutions that help customers go green without the hassles or costs of solar facility ownership and maintenance.
NRG Solar LLC, a subsidiary of NRG, has more than 2,000 MW of photovoltaic and solar thermal projects under development or in construction across the southwestern United States.