LVI SERVICES SIGNS STRATEGIC ALLIANCE AGREEMENT WITH NRG ENERGY
7/8/2009
NEW YORK -- July 8, 2009 -- LVI Services Inc., the nation’s largest environmental remediation and facility services firm with more than 30 offices across the country, today announced that it has entered into a strategic alliance with NRG Energy Inc., the Princeton, New Jersey-based wholesale power generation company.
The five-year, fleet-wide alliance agreement with NRG Energy designates LVI as a preferred provider of environmental services and demolition work for NRG, which has ownership interest in 44 power-generating facilities, with net ownership of 24,005 megawatts of capacity.
Under the agreement, LVI will self-perform a wide variety of facility service activities, including project planning, asset optimization and strategic execution. The two organizations, which have worked together on a number of NRG facility projects over the past several years, are mutually committed to safety, value creation and cost efficiency, and the agreement establishes rates and eliminates the time-consuming bid process.
“LVI appreciates this opportunity to be a positive force in helping NRG re-power its network of facilities across the country,” said Robert A. McNamara, President and CEO of New York City-based LVI Services. “Over the years, our team has done a great job as a valued partner by understanding NRG’s business, and providing quality insight and work that has been safe, on time and on budget. Through our dispersed execution model, we are able to provide high value and consistency across all NRG facilities. We look forward to a long, valuable partnership with NRG.”
LVI’s work on behalf of NRG has included demolition, full and partial decommissioning services, and other environmental services. The two companies have worked together successfully on strategies for repowering and closure of power plants, including developing budgets, execution plans, health and safety plans, and permitting strategies.
“LVI’s excellent track record and broad geographic reach made the agreement an excellent business decision for us,” said John Ragan, NRG Executive Vice President and Chief Operating Officer. “This agreement is a testament to the quality work and relationship our two organizations have fostered. It is clear to us that LVI shares our commitment to safety, high value and efficiency, and we look forward to benefiting from the LVI team’s additional strategic support and seamless project execution.”
NRG has ownership interest in power-generating facilities in
About LVI Services
LVI Services Inc. is the