NRG Energy Inc. (NRG) has acquired an U.S.-based energy demand response provider, Energy Curtailment Specialists, Inc. (“ECS”). Post acquisition, ECS headquarter will be in Buffalo, N.Y. The acquisition will enable NRG Energy to offer its business clients the modes to reduce energy load during peak demand.
ECS offers turnkey, administrative and several other demand response services. The company has a customer base of more than 5,000 customers and manages over 2,000 megawatts (MW) of demand response in North America.
We appreciate NRG Energy’s continuous effort towards customer benefits. The company has taken several initiatives to reduce the electricity bills, while decreasing energy load.
In Jul 2013, NRG Energy acquired a solar project, with a power generation capacity of 25.65 MW, from Quantum Utility Generation, LLC. Later, the company will sell the output to the Guam Power Authority (GPA) through two 25-year power purchase agreements. These contracts will help GPA to provide clean and emission-free power to the consumers at a cheaper price.
As of Jun 30, 2013, NRG Energy had cash balance of $1.36 billion. A stable financial position enables the company to carry out several inorganic as well as organic growth strategies to provide uninterrupted and reliable services to its customers. We believe that timely implementation of modern technologies for the customers’ interest will attract new customers, which will subsequently improve NRG Energy’s future revenues.
Princeton, N.J.-based NRG Energy together with its subsidiaries operates as an integrated wholesale power generation and retail electricity company.
NRG Energy currently has a Zacks Rank #3 (Hold). However, other stocks in the industry that are worth considering include Huaneng Power International, Inc. (HNP) with a Zacks Rank #1 (Strong Buy), and Alliant Energy Corp. (LNT) and IdaCorp, Inc. (IDA), each with a Zacks Rank #2 (Buy).
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment