NRG Energy Abandons Visionary Green Plan to Focus on Dying Fossil Fuel Business
NRG Energy Inc. (NYSE: NRG) was supposed to be the utility company of the future. When David Crane ran the company from 2012 to 2015, he pushed into renewable energy by buying a residential solar installer, acquiring portable solar-power products maker Goal Zero, investing billions in renewable energy projects, and launching the yieldco craze with NRG Yield Inc. (NYSE: NYLD)(NYSE: NYLD-A).
But NRG Energy's stock has been in decline since mid-2014, and investors grew restless with Crane's performance. He was pushed out at the end of 2015, and since then, NRG has gone through a year and a half of strategic reviews. Its latest strategic shift, released on Wednesday, was pushed for by hedge funds Elliott Management and Bluescape Energy Partners, which were given two seats on the board earlier this year. And it will shake up NRG forever.
Source: Fool.com
NRG Energy Inc. Aktie
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