Nov 13, 2013 - US utility NRG Energy Inc (NYSE:NRG) on Tuesday said the third-quarter net loss of its alternative energy division had expanded to USD 21 million (EUR 16m) from USD 16 million a year back.
The segment, which is in charge of the company’s solar power operations, boosted its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to USD 52 million from USD 23 million. Solar gross profit rose by USD 32 million to USD 74 million thanks to the contribution of the 278-MW Agua Caliente solar park in Arizona and the 250-MW California Valley Solar Ranch complex.
In the third quarter of 2013 NRG Energy returned to a net profit of USD 124 million after a USD-1-million loss from a year earlier. Revenues increased to USD 3.49 billion from USD 2.33 billion. The utility cut its 2013 adjusted EBITDA projection to USD 2.55 billion-2.6 billion from USD 2.55 billion-2.7 billion. It also lowered its adjusted EBITDA estimates for 2014 to USD 2.7 billion-2.9 billion from USD 2.85 billion-3.05 billion.
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.