Houston power company NRG Energy 's shares rose to a two - fold high of $ 21.09 , after it announced it would divest between $ 2.35bn and $ 4bn of assets , including most , if not all , of its national wind and solar power projects , as well as conventional power plants , in a cost - cutting exercise some have described as " baffling " . NRG CEO Mauricio Gutierrez told analysts the deal would save $ 6.3bn in cash , and the firm would be " able to thrive under any market structure " . NRG 's decision represents a rare reversal of fortunes at a time when other utilities across the globe are embracing renewables .
Houston power company NRG Energy's shares rose to a two-year high of $21.09, after it announced it will divest between $2.35bn and $4bn of assets, including most, if not all, of its national wind and solar power projects, as well as conventional power plants, in a cost-cutting exercise some have described as "baffling". NRG CEO Mauricio Gutierrez told analysts the measures would save $6.3bn in cash, and the firm would be "able to thrive under any market structure". NRG's decision represents a rare reversal of strategy at a time when other utilities across the US are embracing renewables.