SOURCE: Industrial Info Resources

Industrial Info Resources

May 06, 2011 06:45 ET

Leaving STP 3&4 Behind, NRG Energy Focuses on Solar and Gas-Fired Power Projects, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - May 6, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- NRG Energy Incorporated's (NYSE:NRG) earnings results for the first quarter of 2011, which the company released yesterday, showed a significant drop in net income compared with the first quarter of 2010. The chief cause of the decline in income was the company's $481 million asset impairment charge, incurred by NRG's withdrawal from the construction of units 3 and 4 of the South Texas Nuclear Project (STP). NRG had a net loss of $260 million in first-quarter 2011, compared to net income of $58 million in 1Q10.

After withdrawing from the nuclear project, NRG is increasing its focus on solar and gas-fired projects. Industrial Info is tracking more than $8.4 billion in active NRG projects, including the natural gas-fired combined-cycle addition at the company's power plant in El Segundo, California. Details can be found in Industrial Info's North American Power Industry Database.

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