NRG Energy Picks Up Clean Energy Retailer Green Mountain For $350M In Cash

NRG Energy , owner and operator of one of the United States' largest and most diverse power generation portfolios, this morning announced that it has agreed to acquire Green Mountain Energy Company , a retail provider of clean energy products and services, for $350 million in cash. Green Mountain, which was founded in 1997, will be run as a standalone business within NRG. The company offers consumers and businesses the choice of clean electricity products from renewable sources such as wind and water, as well as a variety of carbon offset products.