NRG Energy, Inc. (NRG) To Work With eSolar On 500 MW Of Solar Projects

NRG Energy just announced that it purchased the development rights to 500 MW of solar projects that use eSolar’s solar technology. NRG plans to develop these projects and take them to completion.  Here’s more from an open letter NRG issued to its shareholders:

While this acquisition does not represent a substantial upfront commitment of NRG capital—less than $10 million—it nonetheless signifies a meaningful step forward in NRG’s efforts to be a leader in solar development in the United States. These scale projects will be located in parts of the country with bountiful solar resources and will incorporate a technology that can be built at a cost that makes the projects profitable and, ultimately, value-enhancing to our shareholders. As the Administration moves forward with its plan to restart the economy, we believe the development projects we are acquiring are precisely the kind of zero-carbon, “shovel ready,” economy stimulating infrastructure projects that the Government is seeking to incent with its financial support.

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