Texas Genco
{{#badges: Climate change |CoalSwarm}}Texas Genco is a subsidiary of NRG Energy. It was acquired by NRG in 2006 and since then has been considered the Company’s Texas region.[1][2]
Seeking opportunities arising out of the deregulation of the electricity industry in Texas, in late 2004 four private equity firms — the Texas Pacific Group, the Blackstone Group, Kohlberg Kravis Roberts, and Hellman & Friedman of San Francisco — combined forces to purchase Texas Genco from the transmission & distribution provider utility Centerpoint Energy for Houston.[3]
This coalition of firms acquired Texas Genco, then the second largest operator of power generation facilities in the state, for a price of approximately $1.9 billion. In late 2005, these private equity firms announced the sale of Texas Genco to NRG Energy of Princeton, N.J., for a price of roughly $5.9 billion. The investors achieved a gain of almost $5 billion over the space of an investment holding period of less than 18 months, a return that will mark one of the most lucrative private equity investments in recent years.[3]
Contents
Existing Coal Plants
| Plant | State | Year(s) Built | Capacity |
|---|---|---|---|
| Limestone Generating Station | TX | 1985, 1986 | 1,706 MW |
| Parish Generating Station | TX | 1977, 1978, 1980, 1982 | 2,697 MW |
Pegasus project
In 2004 Texas Genco in a joint effort with Pegasus Technologies Inc. received $6.1 million in federal funds from the U.S. Department of Energy for the $12.2 million Pegasus project. The project was part of President Bush’s Clear Skies Initiative, which called for reductions in power plant emissions, particularly mercury, by 2018. The goal of Pegasus was to "optimize mercury speciation and control" from the Limestone Generating Station utility boiler in Jewett, Texas, combusting a blend of Texas lignite and Powder River Basin subbituminous coal.[4]
Articles and Resources
Sources
- ↑ "Texas Genco", LinkedIn, accessed October 2009.
- ↑ "NRG Energy, Inc. Completes Texas Genco Acquisition Creating the Premier U.S. Wholesale Power Generation Company", Media Release, February 2, 2006.
- ↑ 3.0 3.1 Simon Romero "The Deal That Even Awed Them in Houston" New York Times, November 23, 2005.
- ↑ "Pegasus Project Selected; Will Help Meet President Bush's Commitment to Clean Coal" U.S. Department of Energy Website, September 2009
Related SourceWatch Articles
- Existing U.S. Coal Plants
- Texas and coal
- NRG Energy
- United States and coal
- Global warming
- Coal
- Thomas M. Boehlert - former CFO
External Articles
| This article is a stub. You can help by expanding it. |
Wikipedia also has an article on Texas Genco. This article may use content from the Wikipedia article under the terms of the GFDL.
