What does it take to be a winner in the Energy space?
The best example I have found as a winner in the energy space is NRG. Having a long prospers history in energy what NRG has done that few other companies have been able to do is migrating their focus when the energy industries opportunities move. NRG entered the solar industry, then successfully found, developed and purchased utility scale solar projects. When solar commercial developments and residential installations became profitable NRG entered these spaces. For most companies it is difficult and too complicated and financially improbable to invest in integrated solutions such as covering utility, commercial and residential while building out grid stability.
To be involved with multiple capacities of development and financing it requires a sophistication with a diverse project management, engineering, technology, construction, legal, finance and executive team to analyze and successfully complete energy projects.
Strategy to be an energy leader
An example of NRG’s strategy of being a leader is their investment into Sunora Energy which delivers high-quality solar solutions at low total cost by using economies of scale, proprietary innovation, and operational superiority. Sunora’s experience in solar project completions include 10 kW residential to 250 MW utility scale projects, parking structures, rooftops and greenfield utility-scale projects.
NRG Energy has asset in solar, oil, natural gas, wind, and coal. NRG, is always looking for ways to make themselves more valuable to their customers and partners. Even though they are selling electricity, what they really do is solve problems. With the numerous types of energy assets they know how to view each asset and how to data mine the assets through partnerships. Keeping focused on bring energy management skills, platforms and onsite generation mix that meets the energy requirements of their customers.
What I have found from meeting with many of their executive and management teams is they are thought leaders. Staying focused on the present and future while using the past experiences to guide them. This enables them to have a long term strategy so their implementation strategy is continuously refined.
An example of NRG forward thinking is Reliant customers with a smart meter, can view their electricity usage by hour, day, week and month with the Reliant Account Management tool. You can receive this information with your computer, your phone or access all of these features anytime, anywhere with your smartphone. This crosspollination of knowledge and experience in technologies gives them an advantage when competing with their competitors.
NRG’s energy mix
Along with Reliant the NRG companies are NRG Energy Services, they are an operating and maintenance service company. NRG Thermal which provides steam to power cites including Pittsburgh, San Diego, San Francisco and Harrisburg, Pennsylvania. eVgo auto home charging stations and public fast charging stations. Additionally, Petra Nova which is developing a demonstration-scale project to reduce the carbon intensity of existing coal-fueled generation through carbon capture technology.
In closing, NRG’s success begins with their CEO, David Crane who saw the growth of solar and invested their assets into being the solar energy leader. Additionally, the CEO’s of each NRG company has the knowledge and experience to grow their company and be profitable.