Dive Brief:
- SNL reports on NRG's plan to double earnings in the next seven years, noting the energy company sees significant growth opportunity in the home solar market and five other segments.
- NRG President and CEO David Crane said the company's stock price continues to move in tandem with natural gas commodity prices, but as the company expands into emerging markets the goal is for a more holisitic valuation.
- Other segments where NRG anticipates growth include: NRG Business, NRG Renew, NRG Carbon 360, NRG eVgo and NRG Yield Inc.
Dive Insight:
NRG's plans to become the second largest rooftop solar company in the national will drive an ambitious vision to double earnings by 2022. The company said it intends to raise EBITDA to about $6.6 billion, up from $3.3 billion. But facing a stock price that appears to move around gas commodity price shifts, SNL reports that NRG chief Crane said "what we're really asking you in terms of as you look at the company in 2015 is just to look at valuing this whole picture, the whole business picture."
Crane said the company also anticipates cash available for distribution at NRG Yield will double alongside earnings.
NRG detailed its growth plan over the course of its two-day investor meeting. A presentation the company's NRG Home Solar sector called rooftop systems a "huge market and opportunity."
In November, the company announced plans to reduce the company’s carbon dioxide emissions 50% by 2030 and 90% by 2050 below a 2014 baseline.