NRG Energy takes stake in wind power

PRINCETON, N.J., Nov. 10 (UPI) -- New Jersey-based NRG Energy Inc. acquired wind power leader Bluewater Wind from Babcock & Brown and Arcadia Windpower for an undisclosed sum.

David Crane, president and chief executive at NRG Energy, lauded wind power as one of the best options for renewable energy.

"There is no doubt that offshore wind is the highest potential renewable resource proximate to the population centers along the eastern seaboard of the United States," he said.

The deal combines NRG's experience in engineering and procurement with the offshore wind farm of Bluewater in the northeastern United States, the company said.

Bluewater has a 25-year purchase agreement with Delaware public utilities to supply 200 MW of power. It is also one of the three developers given a $4 million rebate from the Delaware government to build meteorological towers for wind data.

NRG acquires the development staff from Bluewater and appoints Peter Mandelstam, president and founder, as the head of NRG's offshore wind development efforts.

NRG brings 24,000 MW to its regional customers, enough to power more than 20 million homes.