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NRG Energy, Inc. Completes Acquisition of Padoma Wind Power, LLC; Transaction Marks NRG's Entrance into Wind Generation Arena

Posted on: Friday, 14 July 2006, 18:00 CDT

NRG Energy, Inc. (NYSE:NRG) today completed its acquisition of the privately held Padoma Wind Power LLC, a leading wind energy development company. Marking NRG's entrance into the wind generation market, Padoma Wind Power will play a key role in NRG's multi-fuel and multi-technology growth strategy.

"We believe renewable energy has an important and growing role to play alongside fossil fuel-fired generation in meeting the Nation's electricity requirements," said David Crane, NRG's President and CEO. "Our acquisition of Padoma is an important step in furtherance of our multi-fuel, multi-region business model."

Padoma Wind Power is a wind farm developer whose principals have developed, financed, built and operated more than 40 wind farms in the United States and Europe. Padoma will maintain its headquarters in La Jolla, California and will operate as a subsidiary of NRG with its existing management team remaining in place. The transaction was funded with cash on hand, for an undisclosed sum.

About NRG

NRG Energy, Inc. now owns and operates a diverse portfolio of power-generating facilities, primarily in Texas and the Northeast, South Central and Western regions of the United States. Its operations include baseload, intermediate, peaking, and cogeneration facilities, thermal energy production and energy resource recovery facilities. NRG also has ownership interests in generating facilities in Australia, Brazil and Germany. NRG's acquisition of Padoma is part of "ecoNRG," the Company's ongoing and extensive environmental business effort, targeted at reducing NRG's environmental footprint.

Certain statements included in this news release are 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. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct. Factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements above include, among others, inability to achieve the expected benefits from the transaction; general economic conditions; changes in the wholesale power markets and fluctuations in the costs of raw materials; the inability to enter into contracts to sell power or purchase turbines or other equipment on terms and prices acceptable to us; and changes in governmental regulation, including possible changes of market rules, market structures and design, rates, tariffs, environmental laws and regulations and regulatory compliance requirements.

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 not be construed as exhaustive. For more information regarding risks and uncertainties that may affect NRG's future results, review NRG's filings with the Securities and Exchange Commission at www.sec.gov.

More information on NRG is available at www.nrgenergy.com

Source: Business Wire

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