Shawna Casey ’25 pitched NRG Energy, Inc. (NYSE: NRG) on April 14, 2025. NRG Energy, Inc., founded in 1989 and headquartered in Houston, Texas, is one of the largest and leading energy retailers in North America. NRG operates as an energy and smart home services company with operations in both the United States and Canada serving over 8 million customers. NRG’s current portfolio of power-generation is approximately 13 gigawatts of generation through 18 facilities.
Shawna’s investment thesis highlighted NRG’s diverse portfolio of energy assets, geographic reach, and its customers, its potential to enter favorable long-term power purchase agreements (PPAs), and its strong position in Texas’ energy market. NRG’s current portfolio spans multiple fuel types of natural gas, coal, and renewables as well as a wide range of geographies and retail brands including Reliant, Direct Energy, and Green Mountain Energy. NRG is well-positioned to secure long-term PPAs with large-scale corporate clients and data centers, offering predictable revenue streams and growing the digital economy. Lastly, NRG maintains a strong position in Texas’ energy market, which is becoming one of the fastest-growing energy markets in the United States, and plans to expand their generation capacity meeting the predicted future demand.
SMIF voted to purchase approximately $47,000 of NRG, funded through the partial sale of the XLU holding.
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