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Shares of energy wholesaler and utility owner NRG Energy Inc (NYSE: NRG) fell as much as 10% on Tuesday after winning an auction for SunEdison assets. As of 3:30 p.m. EDT, shares were still down 8.8%.
The big news today is that NRG Energy won an auction for 2.1 GW of SunEdison assets for $144 million. What’s strange about the news is that it was the only bidder. No other utility or renewable energy developer got close to the assets and investors are at least a little curious as to why not.