NRG Energy, Inc announced that it has reached a definitive agreement to acquire privately held Padoma Wind Power, LLC, a wind energy development and co-development company for an undisclosed sum.
NRG's acquisition of Padoma is part of "ecoNRG," the Company's ongoing and extensive environmental business effort, targeted at reducing NRG's environmental footprint. The transaction will be funded with cash on hand and is expected to close by the end of July 2006, subject to customary closing conditions. Upon closing, Padoma will maintain its headquarters in La Jolla, California and will operate as a subsidiary of NRG.
