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Since Dynegy filed for bankruptcy in 2012, the company has gone through changes including the purchase of a French company’s North American portfolio. Now they’re balancing that acquisition by selling off five facilities around the country.
NRG is also restructuring. The company had been increasing their investments in renewable energy, like solar and wind farms.
“The United States is no longer part of the Paris Agreement,” he said. “A lot of the pressures that were being levied on companies like NRG have dissipated.”
He said the pendulum at NRG could swing back in three or four years.
“When solar and wind are cost competitive, they can perhaps reenter the marketplace at that point in time,” he said.
Krishnamoorti said Dynegy is simply retooling their portfolio but Houstonians can expect deeper changes at NRG.
“You will have layoffs,” he said. “You will have restructuring of those companies in terms of where their portfolio is going to get emphasized.”
NRG is selling up to $4 billion of assets as part of a $13 billion debt reduction plan.