Energy Firm NRG’s Business Reset: Will It Affect Electric-Car Charging Network?

NRG eVgo electric-car charging station NRG Energy is a large electric utility company, but it also operates solar and electric-car charging businesses. Its eVgo charging network already claims to have more operational DC fast-charging stations than any other network in the U.S. But now the charging network is getting caught up in a bit of corporate reshuffling. DON’T MISS: NRG eVgo Electric-Car Fast Chargers Future-Proofed To 100 KW On September 18, NRG announced a restructuring that transferred its electric-car charging and solar operations to a separate corporate entity called GreenCo, according to Navigant Research. NRG’s stock has fallen by one third this year, and with interest rates set to rise, pressure from investors reportedly forced the move. In a webcast, NRG CEO David Crane said the parent company will provide GreenCo with a $150 million revolver through 2016. Nissan Leaf at eVgo Freedom Station Daly City, California “Now is neither the time to abandon GreenCo nor to transfer its full value to someone else,” Crane said. However, he said NRG planned to impose a “new higher level of financial rigor” on the separated entity, and that efforts are underway to find GreenCo a new strategic partner. Navigant views losses […]

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