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Exhibit 99.6
[NRG LOGO]
NEWS
RELEASE
FOR IMMEDIATE RELEASE
NRG ENERGY ON TRACK TO ACHIEVE 25 PERCENT EARNINGS AND MEGAWATT GROWTH
MINNEAPOLIS; (June 15, 2001) - During an investors conference call, NRG Energy,
Inc. (NYSE: NRG) today reported it is on track to achieve its stated goal of
increasing earnings and megawatt ownership by at least 25 percent in 2001.
"Consistent with NRG's strategy of being among the top three competitive energy
providers in each of its markets, NRG continues to grow through a disciplined
acquisition program and accelerated greenfield and brownfield development," said
David H. Peterson, NRG chairman, president and CEO. "We are confident we can
sustain our growth momentum well into the future and reach our goal of owning
50,000 megawatts by year-end 2005."
The company confirmed its 2001 earnings per share estimate of $1.35 and went on
to give earnings guidance for each quarter of 2001 as follows:
Second quarter 2001 0.21 - 0.22 cents per share
Third quarter 2001 0.65 - 0.70 cents per share
Fourth quarter 2001 0.25 - 0.27 cents per share
The company went on to list projects it has closed since April. The list (shown
below) included a number of greenfield and brownfield projects that have either
recently entered, or are expected to enter, into commercial operations within
the next few weeks.
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OPERATING STATUS OR
(EXPECTED DATE OF
PROJECT NAME LOCATION NET MW INCREASE OPERATION)
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Audrain Missouri, USA 640 Operating
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Batesville Mississippi, USA 427 Operating
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Batesville expansion Mississippi, USA 146 (June 2002)
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Cajun Peakers Louisiana, USA 238 (June 2001)
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Sterlington Louisiana, USA 72 (June 2001)
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Chowchilla II California, USA 49 Operating
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Dover expansion Delaware, USA 88 Operating
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Sabine River Works Texas, USA 210 (Fall, 2001)
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MIBRAG Germany 79 Operating
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Schkopau Germany 200 Operating
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Nordic Power (and various Latin Bolivia, Brazil 228 Operating
American projects) and Peru 97 (March 2002)
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Additionally, the company listed various projects (shown below) it expected to
close in the next few months.
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PROJECT NAME LOCATION NET MW INCREASE
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Conectiv Delaware, Maryland and New Jersey, USA 1,767
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Csepel Hungary 389
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Kangal Turkey 219
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McClain Oklahoma, USA 355
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WisVest Connecticut, USA 1,051
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NRG's chief financial officer, Leonard A. Bluhm also discussed NRG's filing of a
$2 billion shelf registration statement with the Securities and Exchange
Commission yesterday saying, "We filed the shelf registration statement because
we are a growth company and it is prudent to be able to access the debt and
equity markets when needs dictate and market conditions are favorable."
The company went on to say it has no current plans to issue additional equity.
NRG is a leading energy company engaged primarily in the acquisition,
development, construction, ownership and operation of power generation
facilities around the world.
A replay of today's conference call is available through the investor relations
section of the company's web site, www.nrgenergy.com.
A $2 billion registration statement has been filed with the SEC but has not yet
become effective. These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
Certain statements included in this news release are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Forward-looking statements above
include, but are not limited to, expected earnings and future growth and
financial performance. Although NRG believes that its expectations are
reasonable, it can give no assurance that these expectations will prove to have
been correct. Factors that could cause NRG's actual results to differ materially
from those contemplated in the forward-looking statements above include, among
others, factors affecting power generation operations such as unusual weather
conditions, unscheduled generator outages, unanticipated changes to fuel costs
or availability and environmental incidents; changes in government regulation or
the implementation of government regulations, including pending changes within
or outside of California as a result of the California energy crisis, which
could result in NRG's failure to obtain regulatory approvals required to close
project acquisitions, and which could adversely affect the continued
deregulation of the electric industry; risks associated with the timely
completion of development projects, including obtaining competitive contracts
and construction delays; and factors affecting the availability or cost of
capital, such as changes in interest rates and market perceptions of the power
generation industry, NRG or any of its subsidiaries.
NRG undertakes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. The
foregoing review of factors that could cause NRG's actual results to differ
materially from those contemplated in the forward-looking statements included in
this news release should not be construed as exhaustive. For more information
regarding these risks and uncertainties, please review NRG's registration
statement on Form S-3 filed June 14, our annual report on Form 10-K and our
other filings with the Securities and Exchange Commission.
MORE INFORMATION ON NRG ENERGY IS AVAILABLE AT WWW.NRGENERGY.COM.
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Contacts: Meredith Moore
Media Relations
612.373.8892
Rick Huckle
Investor Relations
612.373.8900