NRG Yield is majority-owned by NRG Energy Inc. (NYSE: NRG) and was spun-off as a separate public company in December 2012 for the purpose of owning and operating renewable and conventional electricity generating assets. NRG Yield began trading as a public company in July 2013. Last month, NRG Yield agreed to acquire three facilities from NRG for $349 million plus assumed debt and working capital adjustments.
Once the Alta Wind acquisition is completed, NRG Yield will own a portfolio of 2,839 megawatts of wind power generation, the fifth-largest wind power portfolio in the United States. NRG Yield expects to close the transaction in the third quarter of this year, subject to regulatory approvals and the usual closing conditions.
NRG Yield’s shares traded up 3.5% in the noon hour Wednesday, at $48.56 in a 52-week range of $26.50 to $49.45. The high was set earlier in the morning.
ALSO READ: The 10 Most Polluted Cities in America
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
