NRG Evolves To Set Pace for Energy Movement
August 06, 2014
Earlier this year, our president and CEO, David Crane, described his vision of NRG’s future and why accelerating the race to a clean energy future is important. We aspire to be a societal leader in the effort to avert the worst risks of climate change by building the foundation for a clean energy economy. Our goal is to enlist like-minded corporations, thought leaders and consumers to join us to create a popular consumer-driven movement—one that embraces a sustainable lifestyle both as a matter of choice and because it’s the right thing for us to do on behalf of our children and grandchildren.
How do we engage and motivate these groups to jumpstart this movement? Not an easy quest, but one that we’re taking head on. Front and center are the relationships with our customers. Today we announced that we’re organizing ourselves internally to align with the customers whom we seek to serve. What better way to share our vision, speak the same language and meet our customers’ needs by really understanding who we’re working with. Our new structure is called “3+2+1” – three main businesses, two special purpose companies and the value enhancing properties of NRG Yield.
NRG Business incorporates all of our current wholesale operations, commercial operations and energy services functions. NRG Business serves the grid-based system as it has done so successfully for many years and as it will continue to do in the years to come.
The name NRG Business reflects the fact that as we look forward we think the business sector—rather than government, utilities or NGOs—is going to be the primary catalyst for transformation towards a clean energy economy.
Almost all big corporations have embraced sustainability as a core value, not only because it is the right thing to do, but also to have greater appeal to their own customer base. These companies see what we see: that the aging and antiquated power grid is becoming increasing unreliable and unable to withstand the severe weather challenges of the 21st century.
NRG Home combines the almost 3 million retail customers currently served through all of NRG’s retail brands with our residential solar company, NRG Home Solar. NRG Home will also be focused on bringing mobile and clean energy solutions to the end-use energy consumer.
This is our pledge to the customer: wherever you are, whatever you are doing, for however long you are doing it—and without regard to whether you have ready access to a cord and outlet—we want to be there for you in order to enable your mobile and highly interconnected lifestyle without interruption.
NRG Renew is much more than our utility-scale solar and wind assets, although they will remain a fundamental and growing part of NRG.
The goal for NRG Renew is to develop a suite of products and services involving higher value added customized renewable-driven microgrid solutions like the one NRG Renew’s Station A Group is currently implementing on Sir Richard Branson’s Necker Island. Again, the focus is on the energy customer, which in the case of NRG Renew could be a business, an individual, a municipality or even a state.
Any energy consumer that wants to be on the cutting edge of sustainability, grid independence or clean energy leadership is a potential customer and partner for NRG Renew.
Beyond these three parts of NRG, there are three other critical parts of our company: NRG Yield, Petra Nova and eVgo.
- - NRG Yield brings the benefits of lower cost of capital to our long-term contracted conventional and renewable assets.
- - Petra Nova is our 50/50 joint venture with JX Nippon Oil & Gas Exploration. We are developing a commercial-scale post-combustion carbon capture project at NRG's WA Parish generating station southwest of Houston, Texas. The project is an investment in the future of enhanced domestic oil production.
- - NRG eVgo gives electric vehicle (EV) owners new freedom and range confidence via home and workplace charging docks plus a network of fast charging stations conveniently located at retailers along major transportation corridors within eVgo cities. eVgo brings customers closer to a clean energy future of their own through a charging network that makes it easy to drive an EV.
Earlier this year, David Crane challenged our organization to learn from companies that have inspired, empowered and enabled consumers to unprecedented frontiers, and we believe the changes announced today bring us closer to providing that vision for consumers as they consider the possibility of a clean energy future. We look forward to bringing our new companies to life and building the future that our children and grandchildren deserve.
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