NRG Renew LLC, a wholly owned subsidiary of NRG Energy, Inc. (NYSE: NRG), the country's largest independent power producer, has entered into an agreement with Kaiser Permanente, one of the nation's largest not-for-profit healthcare providers, to help Kaiser Permanente achieve its goal to reduce greenhouse gas emissions three years ahead of its promised date. Utilizing as much as 70 megawatts (MW) of on-site solar from NRG Renew, Kaiser Permanente will achieve the top ranking of on-site installed solar capacity among U.S. healthcare companies. 1
Solar photovoltaic arrays will be constructed and integrated primarily on carports and parking structures, providing welcome shade from the California sun to more than 20,000 parking spots used by Kaiser Permanente members, visitors and employees. The planned aggregate coverage area will make the NRG Renew-Kaiser Permanente portfolio one of the world's largest solar projects built primarily for vehicle parking. Utilizing parking structures to harness solar energy is important because in a typical city, pavements account for 35 percent to 50 percent of surface area, of which about 40 percent are exposed parking lots, according to research by the Lawrence Berkeley National Laboratory.Once all projects are complete, Kaiser Permanente's total installed on-site solar capacity will place it among the top three on-site commercial solar portfolios among all U.S. companies. 1 Helping businesses and consumers effectively achieve their sustainability goals today is a key tenet in NRG's own sustainability goals and contributes to NRG's vision for a clean energy future. Electricity generated by the solar installations will be sold to Kaiser Permanente under a long-term power purchase agreement, offsetting each facility's use of grid power and increasing the total use of clean, emission-free electricity. The combined installations are expected to offset 6 percent to 8 percent of Kaiser Permanente's load throughout the state. Renewable initiatives like the NRG Renew-Kaiser Permanente project, which generate their own on-site clean energy, will also help contribute to California's recently announced goal of 50 percent renewable energy by 2030. National commercial real estate investment management company Jones Lang LaSalle was engaged as Kaiser Permanente's client advocate for the project. In the past 12 months, NRG and NRG Renew announced partnerships with several leading companies, such as Unilever , to develop clean energy solutions. In addition, the company has solar projects that are recently completed or under construction at MGM Resorts International, Starwood Hotels & Resorts Worldwide, Inc., Levi's Stadium and the AmericanAirlines Arena home of the Miami HEAT , along with community solar projects in California , Colorado and Vermont. About NRG Renew NRG Renew, a subsidiary of NRG Energy, Inc., owns or has partial investment in more than 150 renewable energy projects totaling approximately 4,500 gross MWac of solar and wind capacity in operation throughout North America. More information is available at http://www.nrg.com/renew. About NRG NRG is leading 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 250 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 serve almost 3 million residential and commercial customers throughout the country. More information is available at www.nrg.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy and @NRGMedia. 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 Kaiser Permanente solar projects 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. 1 "Solar Means Business 2014: Top U.S. Commercial Solar Users," Solar Energy Industries Association (SEIA).