Nov 2, 2012 - US utility NRG Energy Inc (NYSE:NRG) on Friday said the third-quarter net loss of its alternative energy segment had narrowed to USD 9 million (EUR 7m) from USD 12 million a year earlier.
The alternative energy unit includes the company's solar projects. It turned to adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of USD 24 million for the period, against a loss of USD 5 million in the corresponding period in 2011.
The division's gross profit increased by USD 45 million to USD 55 million on the back of the contribution of the 20-MW Roadrunner solar farm, which came online at the end of 2011, and the Agua Caliente solar park, which had 230 MW of commercially operating generation capacity as of September 30.
NRG Energy posted a total net loss of USD 1 million for the third quarter, compared with USD 55 million in the same period last year. Adjusted EBITDA was USD 657 million, up from USD 458 million a year ago.