Press release from Business Wire
ADDING MULTIMEDIA InventivEnergy and NRG Energy Services Partner to Restart the Aspen Power Biomass Plant
<p class='bwalignc'> Renewable power plant can help meet growing demand for clean energy this summer </p>
Thursday, June 19, 2014
ADDING MULTIMEDIA InventivEnergy and NRG Energy Services Partner to Restart the Aspen Power Biomass Plant15:35 EDT Thursday, June 19, 2014
LUFKIN, Texas (Business Wire) -- InventivEnergy, LLC has selected NRG Energy Services LLC, a wholly-owned subsidiary of NRG Energy Inc., (NYSE:NRG), to restart the Aspen Power biomass plant in Lufkin, Texas, and operate and maintain the facility once online to provide clean, renewable power for the Texas market. InventivEnergy is an asset management firm that is overseeing the plant, which first began operation in August 2011 as the first wood-based biomass power plant in the state.
The Aspen power plant uses locally sourced clean wood-waste biomass as its fuel supply. The plant is managed by InventivEnergy and will be operated by NRG ENergy Services. (Photo: Business Wire)
The Aspen power plant has the capacity to deliver approximately 50 MW to the grid and uses locally sourced clean wood-waste biomass as its fuel supply. The plant employs a stoker type boiler with particulate emissions abatement and has selective catalytic reduction for NOx control.
Work to restart the facility began in mid-May and commercial operations are expected to be achieved by late July. NRG is in the process of hiring the site management team and operating staff, according to Don Poe, president, NRG Energy Services.
“The Aspen Power facility was shut down in the fall of 2012 due to market economics. Since then, our projections show an attractive opportunity for the plant to resume operations and provide competitively-priced clean energy to the Texas market,” said John R. Keller, CEO & Founder of InventivEnergy. “We are very excited to team-up with NRG in bringing Aspen back on-line and combining its top-tier O&M capabilities with InventivEnergy's proven expertise in power plant asset management, value enhancement and optimization.”
“NRG Energy Services has exceptional experience in renewable energy and fossil fuel generating station operations, and we look forward to working with InventivEnergy and bringing this expertise to the Aspen Power plant,” said Poe.
Aspen Power LLC commissioned the plant in August 2011. It can consume about 525,000 tons of logging debris and municipal wood waste per year. It was the first major wood biomass power plant in the state.
In addition to the Aspen Power plant, NRG Energy Services also operates renewable and conventional energy facilities in several states.
InventivEnergy, LLC is a leading clean energy sector consulting and asset management firm specializing in power generation development, power plant asset management, valuation and value enhancement, market risk mitigation, troubled facility turnaround and power asset optimization. Power plant owners rely on InventivEnergy to apply its experience in every aspect of a power generation project with proven success in enhancing profitability and maximizing investor value. Investors in power generation assets trust InventivEnergy to manage their commercial power businesses with a deep commitment to achieving targeted returns and enhancing the commercial enterprise in the areas of power marketing, fuel supply, O&M, technology, contract negotiation, risk management, M&A and revenue/cost optimization. More information about InventivEnergy is available at www.inventivenergy.com. Follow InventivEnergy on Twitter @inventivenergy and on LinkedIn.
About NRG Energy Services LLC and NRG Energy
NRG Energy Services provides nationwide services to operate, maintain and repair electric-generation facilities. Our capabilities range from minor repairs to complete overhauls. NRG Energy Services LLC delivers customized operations and maintenance solutions to help owners of simple cycle, combined cycle, steam turbine, and combined heat and power facilities as well as wind, solar PV and solar thermal projects achieve exceptional operational performance and system reliability. A Fortune 250 company, NRG Energy Inc. owns and operates the nation's largest and most diverse competitive power portfolio. We create value through reliable and efficient conventional generation while driving innovation in solar and renewable power, electric vehicle ecosystems, carbon capture technology and customer-centric energy solutions. Our retail electricity providers serve almost 3 million residential and commercial customers throughout the country. More information is available at www.nrgenergy.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy.
NRG Safe Harbor Disclosure
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 include NRG's expectations regarding the Aspen Power biomass plant and forward-looking statements 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. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, competition in wholesale and retail power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulation of markets and of environmental emissions, and our ability to achieve the expected benefits of the announced acquisitions. 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.
David Knox, 832-357-5730
Greg Owens, 201-706-7895