NRG Energy, Inc. (NYSE:NRG), through its wholly owned subsidiary NRG Solar, today announced that the Ivanpah Solar Electric Generating System produced its first output of energy when the Unit 1 station was synced to the power grid for the first time. Achieving this critical “first sync” is a major milestone for the project.
“The achievement of this major milestone was possible through the tireless efforts of the entire project team – from the craft to the field engineers and technical experts,” said Toby Seay, President of Bechtel’s power global business unit. “With the cooperation of Ivanpah’s owners, we have been able to bring to life a world-class solar project that will help California meet its renewable energy goals safely and effectively.”“At Google we invest in renewable energy projects that have the potential to transform the energy landscape. Ivanpah is one of those projects,” said Rick Needham, Director of Energy and Sustainability at Google. “We’re excited about the project achieving this first sync – a landmark event along the path to completion. Congratulations to the many people who have worked so hard to get this far.” Located in California’s Mojave Desert, Ivanpah is the largest solar thermal plant in the world, spanning 3,500 acres of public land. Once fully operational, the 392 megawatt (377 megawatt net) plant will generate enough electricity to power 140,000 homes annually. Ivanpah’s three power tower units will also nearly double the amount of commercial solar thermal energy capacity now operating in the United States. The Ivanpah Solar Electric Generating System is one of several NRG assets that are subject to a Right of First Offer Agreement between NRG Energy Inc., and the newly-created NRG Yield, Inc. (NYSE: NYLD). About NRG and NRG Solar NRG is leading a customer-driven change in the U.S. energy industry by delivering cleaner and smarter energy choices, while building on the strength of the nation’s largest and most diverse competitive power portfolio. A Fortune 500 company, we create value through reliable and efficient conventional generation while driving innovation in solar and renewable power, electric vehicle ecosystems, carbon capture technology and customer-centric energy solutions. Our retail electricity providers – Reliant, Green Mountain Energy and NRG Residential Solutions – serve millions of residential and commercial customers throughout the country. More information is available at www.nrgenergy.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy. NRG, through its subsidiaries including NRG Solar LLC, has more than 2,000 MW of photovoltaic and solar thermal projects in operation, under construction or in development across the southwestern United States. More information is available at www.nrgsolar.com. Connect with NRG Solar on Facebook and follow us on Twitter @nrgsolar. About BrightSource Energy, Inc.
BrightSource Energy, Inc. provides the world’s premier solar field technology for concentrating solar power systems to deliver reliable clean energy to utilities and industrial companies. For more information on BrightSource Energy please visit www.BrightSourceEnergy.com.About Google Inc. Google is a global technology leader focused on improving the ways people connect with information. Google’s innovations in web search and advertising have made its website a top internet property and its brand one of the most recognized in the world. About Bechtel Bechtel is among the most respected engineering, project management, and construction companies in the world. We stand apart for our ability to get the job done right—no matter how big, how complex, or how remote. Bechtel operates through five global business units that specialize in civil infrastructure; power generation, communications, and transmission; mining and metals; oil, gas, and chemicals; and government services. Since its founding in 1898, Bechtel has worked on more than 22,000 projects in 140 countries on all seven continents. Today, our 53,000 employees team with customers, partners, and suppliers on diverse projects in nearly 50 countries. For more information about Bechtel visit www.bechtel.com. NRG Safe Harbor Disclosure This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include NRG’s expectations regarding the Company’s Ivanpah solar project and forward-looking statements typically can be identified by the use of words such as “will,” “expect,” “believe,” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulation of markets and of environmental emissions, and our ability to achieve the expected benefits and timing of our solar projects. NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the Securities and Exchange Commission at www.sec.gov.