NRG Energy closes USD-350m acquisition of Green Mountain
(ADPnews) - Nov 8, 2010 - US utility NRG Energy Inc (NYSE:NRG) said on Friday it had completed the USD-350-million (EUR 248m) acquisition of Green Mountain Energy Co as it seeks to expand its renewable power assets portfolio, enter new markets and bolster its product offering.
The transaction, financed with cash on hand, will allow Green Mountain to boost its product and services offering and speed up its expansion plans.
Currently, Green Mountain operates mainly in Texas and the Greater New York area. The company will remain an independent unit within the structure of NRG.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.