NRG Energy Inc. was founded in 1989 and the company is engaged in the production, sale and delivery of energy and energy products and services to residential, industrial as well as commercial consumers in major competitive power markets in the United States. The company has financial and commercial headquarters in Princeton, NJ and operational headquarters in Houston, TX.
The NRG Yield Inc. and the Renewables Platform businesses, which represented 3,428 MW of global generation, were sold on August 31, 2018 to Global Infrastructure Partners (GIP).
As of Dec 31, 2020, the company’s total generation capacity was 22,798 megawatt (MW). The company utilized natural gas (43.1%), coal (34.7%), oil (15.8%), nuclear (5%), utility scale solar (1.4%) and Battery Storage & Distributed Solar, which marginally contributed to generate power.
From first-quarter 2020, the company has changed its business segments from Retail and Generation to Texas, East and West/Other as majority of its generation serves its retail customers.
Texas: This segment includes all activity related to customer, plant and market operations in Texas. In the first quarter of 2021, this segment’s operating revenues amounted to $3,702 million.
East: This segment includes the remaining activity related to customer operations and all activity related to plant and market operations in the East. In first-quarter 2021, this segment’s operating revenues amounted to $3,825 million.
West/Other: This segment includes assets and activities — all activity related to plant and market operations in the West, activity related to the Cottonwood power plant that was sold to Cleco on Feb 4, 2019 and is being leased back through May 2025, the remaining renewables activity, including the company’s equity method investments in Ivanpah Master Holdings, LLC and Agua Caliente, the remaining Home Solar assets and the remaining NFL stadium solar generating assets, activity related to the company’s equity method investment for the Gladstone power plant in Australia and corporate activities. In first-quarter 2021, this segment’s operating revenues amounted to $565 million.