NRG Yield Inc will purchase the largest wind farm in North America for $870 million, helping parent NRG Energy Inc bulk up its clean energy portfolio and comply with strict air emission rules.NRG Yield shares rose 5 percent to a life high of $49.38 on the New York Stock Exchange on Wednesday morning.The purchase of California's Alta Wind Energy Center will add 947 megawatt (MW) of capacity - enough to power nearly 400,000 homes - to the companies' wind portfolio."In a way this purchase dilutes the exposure that NRG Energy investors have to coal or fossil fuel generation," said Morningstar analyst Travis Miller.
NRG Energy, Inc. (NRG) is an integrated wholesale power generation and retail electricity company in the United States. Shares of NRG traded higher by 0.51% or $0.185/share to $36.24. In the past year, the shares have traded as low as $24.86 and as high as $36.07. On average, 3801700 shares of NRG exchange hands on a given day and today's volume is recorded at 1162626.
NRG Yield, Inc. serves as the primary vehicle, through which NRG Energy, Inc. Shares of NYLD traded higher by 4.44% or $2.085/share to $49.00. In the past year, the shares have traded as low as $26.50 and as high as $47.49. On average, 304147 shares of NYLD exchange hands on a given day and today's volume is recorded at 845012.
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