NRG Energy Celebrates the Spanish Town Estate Solar Development in U.S. Virgin Islands
30 October 2014 - 2:04AM
Business Wire
Unveiling of a New Emission-Free Solar facility
for St. Croix that will Power Approximately 1,500 Homes and Reduce
Reliance on Imported Diesel Fuel
During a festive ribbon-cutting ceremony, NRG Energy, Inc. (NYSE: NRG), one of the largest solar
companies in the U.S., celebrated the installation of the Spanish
Town Estate Solar Project on the island of St. Croix in the U.S.
Virgin Islands. By harnessing the island’s bountiful sunlight, the
Spanish Town Estate facility stands ready to generate 4 megawatts
(MWac) of clean, emission-free energy, enough to power the homes of
approximately 1,500 customers of the U.S. Virgin Island Water and
Power Authority (WAPA). The ground-mounted photovoltaic power plant
is positioned on 17 acres in Estate Spanish Town, and is connected
directly to the new Gregory E. Willocks Substation at the same
location.
NRG Energy Spanish Town Estate Solar
Facility, St. Croix USVI (Photo: Business Wire)
NRG executives joined representatives from project partners
Toshiba International Corporation and WAPA to tour the Spanish Town
Estate facility and the new substation after the official
ribbon-cutting. The Spanish Town Estate project will be an
important step toward the U.S. Virgin Islands and St. Croix
achieving their renewable energy goal to reduce fossil fuel-based
energy consumption by 60 percent over the next decade. During
construction, the project created nearly 100 direct and indirect
jobs and injected an estimated $3 million into the local
economy.
“Now home to NRG’s first solar facility in the U.S. Virgin
Islands, Spanish Town Estate stands out as an example of how
Caribbean nations can tap the power of the sun to provide clean
energy to residents without compromising the island’s natural
beauty,” said Edouard MacGuffie, vice president of development, NRG
Renew Caribbean region. “At NRG Renew, we are proud to celebrate
this milestone alongside our partners and we look forward to
bringing the power of solar energy to other Caribbean nations
looking to follow the precedent we set here in St. Croix.”
“Like several of the other green energy initiatives that the
Authority is pursuing, this project will result in lowering energy
costs for our customers,” said Hugo Hodge Jr., executive director,
U.S. Virgin Island Water and Power Authority. “It will generate
clean, reliable solar power for delivery to WAPA customers, and
help the Virgin Islands and St. Croix achieve our renewable energy
goals for the coming years.”
“With the Spanish Town Estate facility, Toshiba worked with
project owner NRG and continued with our mission to bring
environmentally friendly options for energy generation to the U.S.
Virgin Islands,” said Mark Lonkevych, business unit manager at
Toshiba. “Since we signed our initial agreement with WAPA in 2012,
Toshiba has been proud of the progress we have made and how the
Spanish Town Estate facility maintains the pristine beauty of the
island which was not compromised by economic factors and the
detrimental effects of importing and using fossil fuels.”
While Toshiba served as the lead engineering, procurement and
construction through completion, NRG, through its subsidiaries, is
now the sole owner of the Spanish Town Estate facility. This
project, which is NRG’s first public solar facility in the U.S.
Virgin Islands, highlights a commitment to the region and expands
NRG’s efforts in the Caribbean, which also include solar projects
in Haiti; a solar installation which will begin next year in St.
John and a microgrid installation under development on Necker
Island.
About NRG Energy and NRG Renew
NRG Energy (NYSE: NRG) is leading customer-driven change in the
U.S. energy industry by delivering cleaner and smarter energy
choices, while building on the strength of the nation’s largest and
most diverse competitive power portfolio. A Fortune 250 company, we
create value through reliable and efficient conventional generation
while driving innovation in solar and renewable power, electric
vehicle ecosystems, carbon capture technology and customer-centric
energy solutions. Our retail electricity providers serve almost 3
million residential and commercial customers throughout the
country. More information is available at www.nrg.com. Connect
with NRG Energy on Facebook and follow us on
Twitter @nrgenergy and @NRGMedia.
NRG Renew, a subsidiary of NRG Energy, oversees the operation of
more than 150 renewable energy projects in the US and
internationally. NRG and its companies own or operate approximately
4,500 gross megawatts (MWac) of solar and wind capacity1.
More information is available at http://www.nrg.com/renew
NRG Safe Harbor Disclosure
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such forward-looking
statements are subject to certain risks, uncertainties and
assumptions and include NRG’s expectations regarding the Company’s
Spanish Town Estate solar project and forward-looking statements
typically can be identified by the use of words such as “will,”
“expect,” “believe,” and similar terms. Although NRG believes that
its expectations are reasonable, it can give no assurance that
these expectations will prove to h ave been correct, and actual
results may vary materially. Factors that could cause actual
results to differ materially from those contemplated above include,
among others, general economic conditions, hazards customary in the
power industry, competition in wholesale power markets, the
volatility of energy and fuel prices, failure of customers to
perform under contracts, changes in the wholesale power markets,
changes in government regulation of markets and of environmental
emissions, and our ability to achieve the expected benefits and
timing of our renewable projects. NRG undertakes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. The
foregoing review of factors that could cause NRG’s actual results
to differ materially from those contemplated in the forward-looking
statements included in this news release should be considered in
connection with information regarding risks and uncertainties that
may affect NRG’s future results included in NRG’s filings with the
Securities and Exchange Commission at www.sec.gov.
1 http://www.nrg.com/about/who-we-are/our-assets/
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20141029005958/en/
Media:NRG EnergyJeff Holland,
760-710-3828Jeff.Holland@NRGEnergy.com
NRG Energy (NYSE:NRG)
Historical Stock Chart
From Apr 2024 to May 2024
NRG Energy (NYSE:NRG)
Historical Stock Chart
From May 2023 to May 2024