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Researched by Industrial Info Resources (Sugar Land, Texas)--NRG Energy Incorporated (NYSE:NRG) (Princeton, New Jersey) widened its annual net loss as the company prepares for an exit from its renewables business, NRG Yield Incorporated (NYSE:NYLD.A), and significant assets in Louisiana. Industrial Info is tracking $4.7 billion in NRG projects.
Last month, NRG announced the sale of NRG Yield, which handles the bulk of the company's renewables business, for $1.375 billion to Global Infrastructure Partners (New York, New York). NRG also announced the sale of 3.6 gigawatts of power generation in Louisiana to Cleco Corporate Holdings LLC (Pineville, Louisiana) for $1 billion. Both transactions are expected to close in the second half of this year.
In a conference call regarding the company's performance, NRG Chief Executive Officer Mauricio Gutierrez said, "Our business is changing. It is improving. We are right-sizing the portfolio and becoming leaner, stronger and better-positioned to create shareholder value, both today and into the future."
NRG reported a full-year 2017 net loss of $2.34 billion, compared with a net loss of $891 million in 2016. The company had a $1.2 billion writedown for its South Texas Project (STP) nuclear generating station near Bay City, Texas, which it said was "primarily due to the outlook of future commodity prices." Unit 1 of STP was commissioned in 1988, followed by Unit 2 in 1989. Both units have a net generating capacity of 1,280 megawatts. At the facility, NRG is wrapping up the Phase II addition of dry cask storage to store spent nuclear fuel from the two reactors. The project, which kicked off in 2015, entails the construction of nine air-cooled storage canisters and has an estimated total investment value (TIV) of $25 million. For more information, see Industrial Info's project report. In addition, a refueling outage is due to kick off for Unit 2 this quarter. For more information, see Industrial Info's project report.
NRG has several projects involving natural gas-fired projects planned or underway. Among these is the Carlsbad Energy Center, which is being constructed next to NRG's existing Encina Energy Center in Carlsbad, California. Construction on the 600-MW simple-cycle plant began in early 2017 and is expected to be completed in the second half of 2019. Burns & McDonnell Incorporated (Kansas City, Missouri) is engineer on the project, which has an estimated TIV of $600 million. ARB Incorporated (Lake Forest, California) is general contractor. For more information, see Industrial Info's project report.
NRG is kicking off construction of a 330-MW gas-fired unit at an existing power station in Sandwich, Massachusetts, this quarter. Burns & McDonnell is performing engineering, procurement and construction on the project, which is set to be completed in the summer of 2019. The project has an estimated TIV of $320 million. For more information, see Industrial Info's project report.
NRG is underway with planning for a grassroot, natural gas-fired peaking power station near Casa Grande, Arizona. The 594-MW plant would use three 198-MW combustion turbine-generators. Authorizations for expenditures are expected to be released later this year, with construction set to start in 2019 and completion by the end of 2020. For more information, see Industrial Info's project report.
NRG is in the late planning stages for a three-unit coal-to-natural gas conversion at its power station in Dunkirk, New York. The project would add three Babcock & Wilcox (NYSE:BW) (Charlotte, North Carolina) gas-fired burners plus control-system modifications in order to lower nitrous oxide emissions and extend the facility's service life. The station was idled at the end of 2015. The project is expected to kick off early next year for completion in late 2020. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Last month, NRG announced the sale of NRG Yield, which handles the bulk of the company's renewables business, for $1.375 billion to Global Infrastructure Partners (New York, New York). NRG also announced the sale of 3.6 gigawatts of power generation in Louisiana to Cleco Corporate Holdings LLC (Pineville, Louisiana) for $1 billion. Both transactions are expected to close in the second half of this year.
In a conference call regarding the company's performance, NRG Chief Executive Officer Mauricio Gutierrez said, "Our business is changing. It is improving. We are right-sizing the portfolio and becoming leaner, stronger and better-positioned to create shareholder value, both today and into the future."
NRG reported a full-year 2017 net loss of $2.34 billion, compared with a net loss of $891 million in 2016. The company had a $1.2 billion writedown for its South Texas Project (STP) nuclear generating station near Bay City, Texas, which it said was "primarily due to the outlook of future commodity prices." Unit 1 of STP was commissioned in 1988, followed by Unit 2 in 1989. Both units have a net generating capacity of 1,280 megawatts. At the facility, NRG is wrapping up the Phase II addition of dry cask storage to store spent nuclear fuel from the two reactors. The project, which kicked off in 2015, entails the construction of nine air-cooled storage canisters and has an estimated total investment value (TIV) of $25 million. For more information, see Industrial Info's project report. In addition, a refueling outage is due to kick off for Unit 2 this quarter. For more information, see Industrial Info's project report.
NRG has several projects involving natural gas-fired projects planned or underway. Among these is the Carlsbad Energy Center, which is being constructed next to NRG's existing Encina Energy Center in Carlsbad, California. Construction on the 600-MW simple-cycle plant began in early 2017 and is expected to be completed in the second half of 2019. Burns & McDonnell Incorporated (Kansas City, Missouri) is engineer on the project, which has an estimated TIV of $600 million. ARB Incorporated (Lake Forest, California) is general contractor. For more information, see Industrial Info's project report.
NRG is kicking off construction of a 330-MW gas-fired unit at an existing power station in Sandwich, Massachusetts, this quarter. Burns & McDonnell is performing engineering, procurement and construction on the project, which is set to be completed in the summer of 2019. The project has an estimated TIV of $320 million. For more information, see Industrial Info's project report.
NRG is underway with planning for a grassroot, natural gas-fired peaking power station near Casa Grande, Arizona. The 594-MW plant would use three 198-MW combustion turbine-generators. Authorizations for expenditures are expected to be released later this year, with construction set to start in 2019 and completion by the end of 2020. For more information, see Industrial Info's project report.
NRG is in the late planning stages for a three-unit coal-to-natural gas conversion at its power station in Dunkirk, New York. The project would add three Babcock & Wilcox (NYSE:BW) (Charlotte, North Carolina) gas-fired burners plus control-system modifications in order to lower nitrous oxide emissions and extend the facility's service life. The station was idled at the end of 2015. The project is expected to kick off early next year for completion in late 2020. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
