NRG Yield buying Energy Systems for $120 million

Published on NewsOK Modified: December 3, 2013 at 6:59 am •  Published: December 3, 2013
Advertisement
;

PRINCETON, N.J. (AP) — NRG Yield is buying privately-held energy supplier Energy Systems Co. for $120 million.

Energy Systems currently serves nearly 14 million square feet of data center, commercial, educational, hospital, cultural and governmental space in Omaha, Neb., where it is based.

"Energy Systems provides us another important opportunity to supply the energy needs of business and other institutional customers directly and in a manner that is not entirely grid dependent," NRG Yield Chairman and CEO David Crane said in a statement.

NRG Yield Inc., which went public in July, owns fossil fuel, solar and wind power generation facilities. It is a subsidiary of NRG Energy Inc.

The Princeton, N.J., company said Tuesday that it will fund the deal with available cash. The transaction is targeted to close by year's end.

Its shares finished at $36.11 on Monday. They have risen more than 32 percent since going public.



Trending Now


AROUND THE WEB

  1. 1
    It’s harder to be a poor student in the U.S. than in Russia
  2. 2
    Man fatally stabbed in west Tulsa early Sunday
  3. 3
    How brain imaging can be used to predict the stock market
  4. 4
    Bridenstine tours Fort Sill, satisfied with facility's transparency
  5. 5
    10 Most Popular Wedding 'First Dance' Songs
+ show more