Duquesne University is evaluating a strategic partnership opportunity with NRG Yield, a subsidiary of NRG Energy, for the potential conveyance and outsourcing of its co-generation facility. Duquesne’s utility system was originally constructed in 1967 and was converted in 1997 to a co-generation facility that powers, heats and cools the University’s campus.“This unique arrangement envisions the possibility of interconnecting Duquesne’s co-generation facility to a neighboring facility owned and operated by NRG Yield to achieve operational synergies, additional redundancy and the monetization of excess steam capacity, among other benefits, while ensuring campus service levels,” said Matt Frist, vice president of finance and business. Further, “the concept aligns with the University’s strategic plan and one of the City of Pittsburgh’s Eco Innovation District goals aimed at pursuing solutions for district energy within Uptown.”
The evaluation process will take several months to complete and will require approval from Duquesne’s Board of Directors and Members of the Corporation to proceed if the strategic relationship is determined to be beneficial.
NRG Yield, Inc. is a dividend growth-oriented company to serve as the primary vehicle through which NRG Energy, Inc. owns, operates and acquires contracted renewable and conventional generation and thermal infrastructure assets. The company owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the U.S.