PRINCETON, N.J., Jul 18, 2007 (BUSINESS WIRE) -- NRG Energy, Inc. (NYSE:NRG) has joined the United States Climate
Action Partnership (USCAP), an alliance of major businesses and
leading climate and environmental groups calling for federal
legislation requiring significant reductions of greenhouse gas
emissions.
"The time is now for decisive action to address climate change and
decisive action requires clear and unequivocal leadership," said David
Crane, President and CEO, NRG Energy. "We are pleased to join USCAP,
which we believe has the potential to be an effective vehicle for
leadership on this fundamental issue. We strongly endorse the USCAP
principles and believe they will lead to a climate policy approach
that is broad in its scope, fair in its application and effective in
its impact."
Building Power Generating Facilities for a Cleaner Energy Future
NRG last June announced a comprehensive repowering plan, known as
Repowering NRG, to develop new power generation facilities which would
significantly reduce the carbon intensity of NRG's generation fleet.
Repowering NRG calls for investing approximately $16 billion on more
than 10,000 megawatts of new, cleaner power plants - enough to supply
power to eight million homes.
NRG's plans include building two new nuclear units at its South
Texas Project location totaling approximately 2,700 megawatts - enough
to power more than 2.1 million homes. The Company expects to be one of
the first companies to file for an operating license with the Nuclear
Regulatory Commission later this year. Additionally, NRG is in the
process of developing an Integrated Gasification Combined Cycle (IGCC)
plant with carbon capture and sequestration in western New York that
will have the ability to capture up to 65% of carbon dioxide today,
with the potential for up to 90% in the future.
"We continue to invest in highly efficient, low-carbon
technologies such as nuclear energy and coal gasification that will
limit carbon dioxide and other air emissions. If the global economy is
to make significant progress in reducing greenhouse gas emissions, it
will be through the rapid commercial deployment of advanced nuclear
generation facilities and, particularly, IGCC plants with carbon
sequestration," added Crane.
Other projects in the works include plans to develop new wind
generation in California and Texas through NRG's Padoma Wind Power
subsidiary.
About NRG
A Fortune 500 company, NRG Energy, Inc. owns and operates a
diverse portfolio of power-generating facilities, primarily in Texas
and the Northeast, South Central and West regions of the United
States. Its operations include baseload, intermediate, peaking, and
cogeneration and thermal energy production facilities. NRG also has
ownership interests in generating facilities in Australia, Germany and
Brazil. More information on NRG is available at www.nrgenergy.com.
About USCAP
USCAP brings together key sectors of the economy--from energy,
transportation, agriculture and technology to telecommunications,
infrastructure and financial services--with environmental and
conservation leaders. This diverse group of business and environmental
organizations stands together in calling for the federal government to
take immediate action to enact mandatory legislation to achieve
significant reductions of greenhouse gas emissions. For further
information, visit www.us-cap.org.
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 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 have been correct, and actual results may
vary materially.
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.
SOURCE: NRG Energy, Inc.
NRG Energy, Inc.
Investors:
Nahla Azmy, 609-524-4526
or
Kevin Kelly, 609-524-4527
or
Media:
Meredith Moore, 609-524-4522
or
Lori Neuman, 609-524-4525
