CEO Leads NRG From Nuclear to Solar, Natural Gas

By Leslie Kwoh | WSJ | Link to article

Soon after the earth shook under Japan last March, NRG Energy Inc. felt aftershocks halfway around the world

When the earthquake triggered a meltdown at the Fukushima Daiichi power plant, the independent power producer was building two nuclear reactors in Texas. Amid regulatory uncertainty in the U.S., the ambitious multibillion-dollar project was halted.

Now, Chief Executive David Crane faces the task of moving Princeton, N.J.-based NRG forward without nuclear energy, one of the primary drivers of its growth. The company has shifted focus to its solar and natural-gas businesses, he says. And solar, in particular, is a bright spot: In December, Warren Buffett’s MidAmerican Energy Holdings purchased a 49% stake in one of NRG’s Arizona solar plants.

(complete article)