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NRG Energy Sets Long-Term Sustainability Goals at Groundbreaking of "Ultra-Green" New Headquarters

NRG | November 20, 2014

NRG Energy, Inc. (NYSE:NRG) is establishing a clear course towards a clean energy future by setting ambitious sustainability goals as part of its continued corporate growth strategy. The new goals are announced in conjunction with today’s groundbreaking ceremony of the company’s new “ultra-green,” grid resilient corporate headquarters in Princeton, expected to open in 2016. The new headquarters was developed in collaboration with and is enabled by a long-term lease with Boston Properties, which will own the building.

A rendering of NRG's new Princeton headquarters, expected to be completed in 2016. (Photo: Business Wire)

The core of NRG’s sustainability goals is:

Reduce the company’s carbon dioxide (CO₂) emissions 50% by 2030 and 90% by 2050 below a 2014 baseline;
Leverage and grow core generation capabilities in a sustainable, lower carbon manner;
Substantially grow business and shareholder value during this transformation into the nation’s leading provider of reliable, clean, sustainable energy.

To view the live event on NRG’s groundbreaking and sustainability goals at 1:00pm ET, please visit: http://www.nrg.com/news/executive-blog/post/nrg-breaks-new-ground

“Having already reduced our CO₂ emissions by 40% since 2005, we see a clear path to further dramatic long-term reduction as we vigorously pursue our multi-faceted, long term sustainable growth strategy,” said David Crane, NRG’s CEO. “As the U.S. transitions to a renewables-driven, increasingly distributed, grid resilient energy system, we expect to be a leader both in clean energy and in converting the CO₂ emissions of our conventional generation from a liability to a profitable by-product.”

NRG, the second-largest conventional power generation company in the U.S., has achieved significant reductions in CO₂ emissions in recent years, but remains a major emitter of CO₂. NRG’s sustainability initiatives will have a significant positive impact on the environment. We estimate that these carbon reduction goals will avoid approximately 3 billion tons of CO₂ emissions by 2050. This is equivalent to:

Avoiding the deforestation of 18,000 square miles of Amazon rain forest (roughly the land mass of Vermont and New Hampshire combined);
Avoiding all of New York City’s CO₂ emissions, at 2005 levels, for 65 years; or
Seven million homes avoiding all of their carbon emissions (from fuel and electricity) every year between now and 2050.

To accomplish its objectives, NRG intends to continue its leadership role in the development, ownership and operations of renewable generation, cost-effective carbon capture and sequestration (CCS), energy storage and low carbon distributed energy resources. New natural gas generation will also play a role in supporting renewable integration while ensuring reliability and fuel resource diversity. A key principle of its 2030 goals is NRG’s commitment to achieving these reductions while significantly growing the business.

“As the largest competitive generator in the country, we have the responsibility to continue reducing our carbon footprint in the medium and long term through innovation and ingenuity,” said Mauricio Gutierrez, NRG’s COO. “Our portfolio allows us to pursue everything from fuel conversions and carbon capture and sequestration to renewables and distributed technologies. We have already started to demonstrate our lower carbon strategies with our asset revitalization program and with NRG Carbon 360, our carbon capture business that includes our Petra Nova project at W A Parish, southwest of Houston. With the construction of our new headquarters, we will showcase the distributed energy solutions available to businesses committed to sustainability across America.”

Distributed energy resources will play an increasingly important role in NRG’s growth. These include distributed solar, efficient co-generation and electric vehicle networks, along with smart systems to manage them all intelligently and efficiently. Through this ongoing renewal and repowering of its generation fleet, NRG is committed to the continued delivery of reliable, efficient power in an increasingly environmentally sustainable and profitable manner.

NRG’s green, co-gen- and solar-powered headquarters will showcase the ability of businesses to foster sustainability in their facilities, while reducing their dependence on grid power.

NEW INNOVATIVE, SUSTAINABLE HEADQUARTERS

Having outgrown its current location, NRG is seizing the opportunity to design, develop and inhabit a new facility that incorporates the cutting-edge resource technologies that characterize the NRG vision. The three-floor, 130,000 square foot headquarters seamlessly integrates a host of renewable energy technologies and efficiency measures, both established and cutting-edge. The NRG headquarters will be a showcase for one of the most trailblazing resource-efficient, grid-resilient designs achievable by corporate America today.

The new headquarters sets the bar for clean energy innovation in corporate facility design and reinforces NRG’s commitment to sustainability leadership. The building demonstrates that clean, sustainable design is achievable and sets an example of environmental leadership in corporate America. It was designed in collaboration with Boston Properties, which shares NRG’s goal to bring a new level of integrated sustainability to the suburban built environment and will be solely occupied by NRG pursuant to a 15 year lease.

The location will incorporate, among other technologies:

Two on-site solar fields, with roughly 765 kW of capacity;
High-efficiency LED lighting combined with daylight harvesting to reduce indoor lighting needs and energy use by roughly one-third;
12,000 gallons of rainwater harvesting capacity to reduce city water use by 80%;
Over 30 electric vehicle charging stations with the infrastructure for EV-to-grid (eV2g) “back-feed” capability;
Off-grid capabilities and significant additional energy efficiency provided through dual-fuel generators and combined heat and power (CHP) systems for heating and cooling;
Grid power, to the extent it is used, will be 100% renewable energy through one of NRG’s green retail subsidiaries.

These features will dramatically reduce electricity, water and fuel use relative to a similar-sized corporate office. The 765 kW solar array is expected to produce some 980 MWh of clean electricity per year, displacing approximately 588 tons of CO₂ annually, equivalent to the energy related emissions of 50 houses. In addition to the financial and environmental benefits that come from resource efficiency, these technologies will provide an educational and inspiring workplace for more than 500 employees onsite.

More information on our new headquarters can be found here: http://www.nrg.com/news/sustainable-headquarters

NRG views creating sustainable businesses and a sustainable and renewable energy economy as essential to our collective future. Strong support from New Jersey local and state officials, and particularly the New Jersey Economic Development Authority, reinforced NRG’s decision to stay and grow in New Jersey. NRG employs more than 900 people across the state, and over the last five years has contributed nearly $3 million to more than 75 New Jersey charities.

About NRG Energy

NRG is leading customer-driven change in the U.S. energy industry by delivering cleaner and smarter energy choices, while building on the strength of the nation’s largest and most diverse competitive power portfolio. A Fortune 250 company, 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.nrg.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy and @NRGMedia.

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 carbon emissions 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 the retail electricity markets, the volatility of energy and fuel prices, failure of customers to perform under contracts and our ability to achieve the expected benefits and timing of the company’s successful achievement of its sustainability goals. 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.