NRG Energy Buys Portable Solar Start-Up Goal Zero

August 15, 2014 By Kirsten Korosec

goal zeroNRG Energy agreed to buy portable and emergency solar power systems start-up Goal Zero, one week after the power producer announced it would reorganize into three separate units.

Goal Zero, based in Salt Lake City, makes portable solar-charged battery packs that can fit into backpacks and bags as well as on-site energy including mobile generators. NRG Energy did not disclose terms of the deal.

NRG says it plans to combine product and service offerings, including pairing portable Goal Zero solar products with retail electricity offers. The acquisition is part of the company’s strategy to to expand into the portable power business.

NRG has already tested demand for portable batteries. Earlier this year, the company placed kiosk stations into the event complex NRG Park to give visitors a way to rent portable power packs to charge their mobile devices.

The power producer announced in its second quarter earnings report in August that it will be split into three separate assets:  NRG Business to house the company’s conventional wholesale energy enterprises, NRG Renew to focus on developing renewable energy infrastructure, including microgrids for commercial customers and NRG Home, which will sell solar and home energy products.

In August, NRG Energy bought $35 million of stock in FuelCell Energy and extended a $40 million loan for project development, project finance and working capital support.

NRG Energy now owns about 17 million shares of FuelCell Energy’s common stock, or 6 percent, including 2.4 million shares owned prior to this transaction.

Image: Goal Zero

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