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Released November 09, 2018 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--NRG Energy Incorporated (NYSE:NRG) (Princeton, New Jersey) is coming off a long period of change after selling or closing underperforming assets, focusing on its core business and strengthening its balance sheet. With one major natural gas-fired project and almost all of its renewables portfolio in the last stages of being divested, the company is now focusing on generation and retail. Industrial Info is tracking nearly $2.8 billion in active projects currently involving NRG, including about $1.17 billion worth that are nearing or under construction.
Click on an image at right for a graph detailing active NRG Energy-related projects, by U.S. state.
In August, NRG completed the sale of its interest in its renewables platform and former subsidiary NRG Yield, which includes the $600 million Carlsbad Energy Center project in northern San Diego County, California. The gas-fired, simple-cycle peaking facility, which is set to be completed in late 2019, is expected to generate 600 megawatts (MW) from six General Electric (NYSE:GE) combustion turbines, each with a capacity of 100 MW. It will replace NRG's nearby, 869-MW Encina facility.
Carlsbad's new owner, international private equity firm Global Infrastructure Partners, is allowing NRG to continue to oversee Carlsbad's construction through its completion in the coming months. The sale is expected to close next quarter. Global Infrastructure Partners has renamed NRG Yield and its associated assets Clearway Energy Incorporated. The Encina Power Station will continue running until Carlsbad is fully operational. For more information, see Industrial Info's project report.
Clearway Energy also will take charge of NRG's solar-power assets in Hawaii, which include three photovoltaic (PV) projects under construction that are set to be completed next summer: the $85 million Waipio Solar Plant in Oahu, the $75 million Kawailoa Solar Plant in Waialua, and the $27.5 million Mililani II Solar Plant in Mililani. The plants are projected to generate 45.9, 49 and 14.7 MW, respectively. For more information, see Industrial Info's reports on the Waipio, Kawailoa and Mililani II projects.
NRG reported a net loss of $72 million for the third quarter, compared with net income of $171 million in the same period last year, as it recorded a $354 million loss for the sale of its discontinued solar and wind operations.
"We achieved a significant milestone in our efforts to right-size our business by closing on the sale of NRG Yield and Renewables," said Mauricio Gutierrez, the chief executive officer of NRG, in a quarterly earnings conference call. "With the transformational plan, asset sales and cost savings nearly behind us, we're now pivoting to margin enhancement in 2019."
Many of NRG's active and proposed projects are related to improvements, upgrades and life extensions at its existing, fossil fuel-fired facilities. The company is considering an estimated $3 million environmental water system upgrade at the New Castle Power Station in West Pittsburg, Pennsylvania. The project aims to comply with environmental requirements by adding a closed-cycle cooling system, intake velocity modifications and other features to three steam turbines. For more information, see Industrial Info's project report.
NRG also is at work on a $27 million refueling outage at its South Texas Project Nuclear Generating Station in Wadsworth, Texas. The 38-day process on the 1,280-MW Unit 1 is nearing completion in the coming days and covers a Westinghouse pressurized water reactor and a Siemens tandem-compound turbine. For more information, see Industrial Info's project report.
Industrial Info is tracking more than $222 million in additional maintenance outages at facilities from NRG Energy over the next two years, including more than $80 million at other nuclear plants and more than $53 million at natural gas-fired plants.
NRG's energy services subsidiary is managing a planned, $8 million demineralizer system upgrade at the Seward Power Station in New Florence, Pennsylvania, which NRG sold to Robindale Energy & Associated Energy Companies (Latrobe, Pennsylvania) in 2015. Robindale seeks to improve reliability and extend the service life at the 521-MW, coal-fired power plant. 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/.
Click on an image at right for a graph detailing active NRG Energy-related projects, by U.S. state.In August, NRG completed the sale of its interest in its renewables platform and former subsidiary NRG Yield, which includes the $600 million Carlsbad Energy Center project in northern San Diego County, California. The gas-fired, simple-cycle peaking facility, which is set to be completed in late 2019, is expected to generate 600 megawatts (MW) from six General Electric (NYSE:GE) combustion turbines, each with a capacity of 100 MW. It will replace NRG's nearby, 869-MW Encina facility.
Carlsbad's new owner, international private equity firm Global Infrastructure Partners, is allowing NRG to continue to oversee Carlsbad's construction through its completion in the coming months. The sale is expected to close next quarter. Global Infrastructure Partners has renamed NRG Yield and its associated assets Clearway Energy Incorporated. The Encina Power Station will continue running until Carlsbad is fully operational. For more information, see Industrial Info's project report.
Clearway Energy also will take charge of NRG's solar-power assets in Hawaii, which include three photovoltaic (PV) projects under construction that are set to be completed next summer: the $85 million Waipio Solar Plant in Oahu, the $75 million Kawailoa Solar Plant in Waialua, and the $27.5 million Mililani II Solar Plant in Mililani. The plants are projected to generate 45.9, 49 and 14.7 MW, respectively. For more information, see Industrial Info's reports on the Waipio, Kawailoa and Mililani II projects.
NRG reported a net loss of $72 million for the third quarter, compared with net income of $171 million in the same period last year, as it recorded a $354 million loss for the sale of its discontinued solar and wind operations.
"We achieved a significant milestone in our efforts to right-size our business by closing on the sale of NRG Yield and Renewables," said Mauricio Gutierrez, the chief executive officer of NRG, in a quarterly earnings conference call. "With the transformational plan, asset sales and cost savings nearly behind us, we're now pivoting to margin enhancement in 2019."
Many of NRG's active and proposed projects are related to improvements, upgrades and life extensions at its existing, fossil fuel-fired facilities. The company is considering an estimated $3 million environmental water system upgrade at the New Castle Power Station in West Pittsburg, Pennsylvania. The project aims to comply with environmental requirements by adding a closed-cycle cooling system, intake velocity modifications and other features to three steam turbines. For more information, see Industrial Info's project report.
NRG also is at work on a $27 million refueling outage at its South Texas Project Nuclear Generating Station in Wadsworth, Texas. The 38-day process on the 1,280-MW Unit 1 is nearing completion in the coming days and covers a Westinghouse pressurized water reactor and a Siemens tandem-compound turbine. For more information, see Industrial Info's project report.
Industrial Info is tracking more than $222 million in additional maintenance outages at facilities from NRG Energy over the next two years, including more than $80 million at other nuclear plants and more than $53 million at natural gas-fired plants.
NRG's energy services subsidiary is managing a planned, $8 million demineralizer system upgrade at the Seward Power Station in New Florence, Pennsylvania, which NRG sold to Robindale Energy & Associated Energy Companies (Latrobe, Pennsylvania) in 2015. Robindale seeks to improve reliability and extend the service life at the 521-MW, coal-fired power plant. 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/.
