NRG Spinoff Buys Into Giant California Solar Farm

By Jordan Blum, The Houston Chronicle

A spinoff of NRG Energy is buying a 25 percent interest in the massive new Desert Sunlight Solar Farm in southern California for $285 million.

NRG, which is based out of Houston and New Jersey, formed NRG Yield in 2013 to own a mix of renewable and conventional power generation assets.

NRG Yield is buying the solar farm interest from GE Financial Services. The deal also includes the assumption of $287.4 million in project debt. The Desert Sunlight Solar Farm, which opened in February, takes up six miles of land about 50 miles from the California-Arizona border.

Read full article in the Houston Chronicle

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