NRG Energy Inc. has completed the acquisition of Green Mountain Energy Co., a competitive retail provider of clean energy products and services, for $350 million in cash.
‘This combination enables us to match green wholesale and green retail in order to meet the American public's growing demand for a fully sustainable alternative energy supplier,’ says David Crane, president and CEO of NRG.
By combining with NRG, Green Mountain will be able to expand the scope of its green products and services and accelerate the pace of its expansion into various markets and market segments, according to the company. Green Mountain will be run as a stand-alone business within NRG.
SOURCE: NRG Energy Inc.