NRG Energy Inc. (NRG) said its subsidiary focused on producing solar energy, NRG Solar, announced the commencement of a 20-megawatt (MW) plant near Santa Teresa, New Mexico. Spread across an area of 210 acres, about 10 miles from El Paso, Texas, the Roadrunner Solar Generating Facility, will produce electricity using thin-film photovoltaic solar panels supplied by First Solar Inc. (FSLR).
The Roadrunner Solar Generating facility is NRG Energy’s third large-scale solar generation plant to enter operation and its first outside California. The plant is also the second-largest photovoltaic (PV) project in the state of New Mexico.
First Solar provided engineering, construction and procurement services for the project using its advanced thin film photovoltaic solar modules, and will also be the operations and maintenance contractor for the facility.
The Roadrunner facility at full capacity is expected to power thousands of homes. NRG Energy said the cost-competitive, renewable power produced at the Roadrunner facility will be sold to El Paso Electric Co. (EE) for the next 20 years.
NRG Solar LLC, a subsidiary of NRG, has more than 2,000 MW of photovoltaic and solar thermal projects under construction across the southwestern United States. With major investments in solar and wind power, as well as electric vehicle infrastructure, NRG is working to help America transition to clean energy.
Based in Princeton, New Jersey, NRG Energy Inc. operates as a wholesale power generation company. The company is also involved in fuel and transportation services, and energy trading in the United States and international markets.
We maintain a ‘Neutral’ recommendation on NRG Energy in the long term. The quantitative Zacks #3 Rank (short-term Hold rating) for the company indicates no clear directional pressure on the stock over the near term.
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