By Editors of Power Engineering
NRG Energy has announced the company has closed on the 1.5-GW utility-scale solar and wind developments from SunEdison.
The acquisition of the projects, some of which are still in varying stages of development, will expand NRG into new markets for solar, including Hawaii and Utah, as well as bolster the company’s presence in its existing markets.
The largest elements of the purchase include a partnership interest in a 530-MW portfolio of seven solar developments in Utah and a 154-MW solar project in Texas.
The purchase agreement came from SunEdison’s chapter 11 bankruptcy filing in April 2016 due to $11 billion in debt accrued through major expansion and the failed acquisition of Vivint Solar.
In a separate purchase, NRG has also acquired 17 MW of solar projects in California, Florida, Massachusetts and Connecticut and 12 MW of construction-ready projects in Massachusetts.
As a result of the purchases, over 10 percent of NRG’s power generation capacity now comes from renewable energy sources.