Buckthorn Solar has been Sold by NRG

What are the implications for Georgetown's contract with NRG for the electricity produced by the Buckthorn solar farm? 

Again, no transparency from the City of Georgetown on any impact of the ownership change at Buckthorn. The citizens have to gather this information on their own.

This news release was posted in February 2018. Further analysis was reported yesterday as to why NRG was selling their renewable energy business.

The company has also struggled with balance sheet problems over the past few years. In short, the company is over-leveraged relative to its income. This should not really come as a surprise due to the damage that the aforementioned rate war inflicted upon all of the companies in the space. These financial problems persisted even after the company managed to shed nearly $3 billion in debt via the 2017 bankruptcy of GenOn.

More information GIP: 

NRG Yield, Inc. (NYSE: NYLD, NYLD.A) today announces that Global Infrastructure Partners (“GIP”), a leading global independent infrastructure investor, has entered into a binding agreement (the “Transaction”) to acquire NRG Energy Inc.’s (NRG) full ownership interest in NRG Yield and NRG’s renewable development and operations platform. With over $45 billion in assets under management and approximately $9 billion of equity invested or committed in the renewable energy sector, GIP provides NRG Yield with a leading sponsor with substantial financial resources to accelerate development of the next generation of drop down projects. GIP has deep experience as a sponsor of publicly traded vehicles in the energy and power sectors and has the unique ability to enhance NRG Yield’s long-term growth opportunities and access to capital. Furthermore, GIP’s demonstrated commitment to the expansion of renewables globally aligns its economic interests with those of NRG Yield’s public shareholders.

NRG and NRG Yield entered into Purchase and Sale Agreements for NRG Yield to purchase NRG’s interest in the following ROFO pipeline assets: 527 MW Carlsbad Energy Center and 154 MW Buckthorn Solar for additional cash proceeds of $407 million, subject to certain adjustments.

 Do we know the health of NRG Yield and Global Infrastructure Partners, or, will we find out later they are just like Sun Edison? Over leveraged and under cash flowed with bankruptcy in the future! Time will tell and you can be sure the City will not tell us!!