NRG launches 65 MW residential yieldco


The solar yieldco continues its growth in solar and are now being rolled out in the residential market segment. Today NRG announced that it was spinning of a bundle of residential leases into a new company in partnership with NRG Yield.

15,000 leases will be bundled in the partnership. NRG Yield says that it should deliver CAFD returns of 7.5% over the life of the investment. It is expected to be fully subscribed within 12 months.

The bundled solar products were delivered by subsidiary NRG Home. They include a 2,200 unlevered portfolio across nine sates, worth some 17 MW with an average of 17 years remaining on the lease. An “in-development” portfolio will form the remaining 48 MW of the yieldco, across 10 states with an average lease term of 20 years. This second portfolio has been tax equity financed.

“This strategic financial partnership, coupled with the growing strength of NRG Home’s residential solar platform, provides us even more confidence in our strategy and growth targets both for the residential solar business and for the NRG Yield portfolio at large,” said NRG CEO David Crane. The executive added that it should deliver a new stage of growth for NRG Yield.

The yieldco, as it does for those established for large PV power plants, is designed to accelerate the return on capital for NRG Home Solar.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.