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NRG: Time To "Prune" Assets (Sales) If Value Can Be Achieved
March 01,2017 NRG Energy said during an earnings call it will "prune" assets if it can monetize the value of such assets Noting that the company went through a similar approach last year, Mauricio Gutierrez, NRG President and Chief Executive Officer, said the company will continue to review assets that can be monetized at value "Looking forward, we will continue our rigorous review process, assessing the current market, and developing solutions that optimize our fleet and strengthen our platform. I would expect these to include further asset dispositions at value," Gutierrez said "As I've said in the past, we ended up with a portfolio of close to 50,000 megawatts of generation through a number of acquisitions, and it is the time now to be pruning around that portfolio and to recalibrate and resize that portfolio. But we will only do that if we can actually monetize assets at value, like we did last year, where we set a target of $500 million and we came in a little over $550 million," Gutierrez said With the newly formed Business Review Committee, Gutierrez said that the company, "will have a conversation about single assets," Gutierrez said "But every part of our business ... [we'll] evaluate that and make a determination in the next couple of months," Gutierrez said With the Business Review Committee, "we are on a fast track to make a full evaluation of every single one of our businesses," Gutierrez said
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