NRG Will Separate Renewable, Fossil Generation In Major Reorganization
Friday, Sep 18 2015
NRG Energy announced plans Sept. 18 for a major corporate restructuring, separating its clean energy business from its traditional generation and electricity retailing subsidiary. NRG's new "GreenCo" unit will include its rooftop solar business, electric vehicle charging initiatives, and its large-scale renewable energy developing business. Beginning in January 2016, that division will operate separately from the company's traditional wholesale generation and retail business. NRG will also sell equity in its 814 MW wind portfolio to its yieldco, NRG Yield, which will remain separate as well.