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4-Traders Homepage  >  Equities  >  Nyse  >  NRG Energy Inc    NRG

Delayed Quote. Delayed  - 07/29 10:04:00 pm
13.84 USD   -1.77%
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NRG ENERGY : Green Mountain Energy Company to Launch Sun ClubSM in New York for a Brighter Tomorrow

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08/12/2011 | 09:05am CEST

New York City and Westchester County residents can now make an even greater impact on the environment by supporting the local development of solar energy for area nonprofit organizations. Green Mountain Energy Company, the nation's leading competitive retail provider of cleaner energy and carbon offset solutions, today will launch the New York chapter of the Green Mountain EnergySMSun ClubSM - a program where for only $5 a month, Green Mountain's New York customers can help donate solar energy technology to worthy local nonprofits.

This program is available to residential electricity customers in the Con Edison service territory throughout New York City and Westchester County. In addition to helping worthy organizations reduce their electricity costs and carbon footprints, each solar donation will include an educational component to help New Yorkers learn more about the importance of this renewable and pollution-free resource. According to the New York State Energy Research and Development Authority, each kilowatt of new solar photovoltaic installed avoids 1,254 pounds of carbon dioxide (CO2) pollution a year. That's as much CO2 pollution avoided as planting 72 trees, or not taking 471 taxi rides in the city.

"Green Mountain was founded with a mission to change the way power is made," said John Holtz, director, Eastern Region, Green Mountain Energy Company. "Every New York resident that participates in the Sun Club helps us continue to fulfill that mission. Sun Club projects will be a shining example of the power our customers have to make a difference for the environment in the Empire State. And they will help to support the development of solar energy in New York."

The company will launch the Sun Club program during a free concert this afternoon in Madison Square Park (W. 23rd St and 5th Ave.) beginning at 4:30 p.m., featuring the "cosmo-country" duo The Vanity Belles?. During the event Green Mountain employees will be handing out sunflowers to promote the Sun Club.

Green Mountain has been offering New York City residents in the Con Edison service territory a choice of competitively priced cleaner energy products since 2009. Through the Sun Club program, the company expects to select and announce at least three solar projects for local non-profits before the end of 2011. Details will be announced in the coming weeks as to how interested nonprofits may request participation in the program. To learn more about the Sun Club or to sign up for this program, please visit: www.gmsunclub.com.

About the Green Mountain Energy Sun ClubSM

The mission of the Sun Club is to fund, build and promote solar power while assisting non-profit organizations with a socially-responsible focus to reduce their environmental footprints. Since inception of the program in 2002, Green Mountain and its customers have made 35 solar donations to worthy non-profits across Texas. The cumulative impact is almost 350 kW of solar energy, which to date are estimated to have avoided as much CO2 as over 3 million miles not driven, taking over 250 cars off the road for a year, or recycling more than 1 million pounds of newspapers. Due to the overwhelming success of that program, Green Mountain is expanding the program beyond Texas. New York is the company's second market to benefit from this unique program.

About Green Mountain Energy Company

Green Mountain, the nation's leading competitive retail provider of cleaner energy and carbon offset solutions, was founded in 1997 to "change the way power is made." The company is the longest serving green power marketer in the U.S. Green Mountain offers consumers and businesses the choice of clean electricity products from renewable sources, such as wind, as well as a variety of carbon offset products. Green Mountain's largest customer is the "world's most famous office building," the Empire State Building in New York City. Green Mountain customers have collectively helped avoid over 11.3 billion pounds of CO2 emissions. As a wholly owned subsidiary of NRG Energy (NYSE:NRG), Green Mountain is backed by one of the nation's largest renewable power producers. For more information, visit GreenMountain.com.

Green Mountain Energy Company
Marci Grossman, 602-694-8972
marci.grossman@greennmountain.com


© Business Wire 2011
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Financials ($)
Sales 2016 13 928 M
EBIT 2016 1 660 M
Net income 2016 351 M
Debt 2016 16 221 M
Yield 2016 1,69%
P/E ratio 2016 11,16
P/E ratio 2017 62,91
EV / Sales 2016 1,48x
EV / Sales 2017 1,52x
Capitalization 4 358 M
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Number of Analysts 15
Average target price 18,1 $
Spread / Average Target 31%
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Mauricio Gutierrez President, Chief Executive Officer & Director
Howard E. Cosgrove Non-Executive Chairman
Kirkland B. Andrews Chief Financial Officer & Executive Vice President
Thomas H. Weidemeyer Independent Director
Lawrence Stephen Coben Independent Director
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