This week, NRG Energy, Inc. (NYSE:NRG) and Edison Mission Energy (EME) jointly announced that the Federal Energy Regulatory Commission (FERC) has approved the previously announced sale of substantially all of EME’s assets to NRG.
According to the press release, the acquisition of EME’s portfolio of renewable and conventional generation assets will create the second-largest US power company with enough capacity to support nearly 48 million American homes. EME will add nearly 8,000 megawatts (MW) of generating capacity to the combined company’s diverse portfolio of both conventional and wind generation facilities.
The FERC approval represents the final regulatory authorizations required to close the transaction and parties expect to close the transaction on April 1, 2014.
This will also make NRG will the third-largest US-based renewable energy generator with an industry-leading wind and solar portfolio. The addition of the assets demonstrate the company’s continued commitment to renewable energy. NRG recently made headlines with their Ivanpah Concentrated Solar Power Tower located in California.
At full capacity, the facility’s trio of 450-foot high towers produces a gross total of 392 megawatts (MW) of solar power, enough electricity to provide 140,000 California homes with clean energy and avoid 400,000 metric tons of carbon dioxide per year, equal to removing 72,000 vehicles off the road.
Gordon's expertise in the area of industrial energy efficiency and alternative energy. He is an experienced electrical engineer with a Masters degree in Alternative Energy technology. He is the co-founder of several renewable energy media sites including Solar Thermal Magazine.