Reliant completes sale and changes name to RRI
Reliant Energy today completed the sale of its Texas retail business to NRG Energy and announced it will change its name to RRI Energy, effective May 2, 2009.
RRI said the sale of the retail business to NRG eliminated $2 billion of current collateral obligations. Under the terms of the transaction, the Reliant Energy name was transferred to NRG.
RRI is now a pure play wholesale generator with more than 14,000 megawatts of power generation assets, according to Mark Jacobs, president and chief executive officer of RRI.
"As a well-capitalized pure play merchant generator, we will be well positioned to manage through an uncertain economic climate and
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