“The move toward renewable energy and gas generation is a trend

“The move toward renewable energy and gas generation is a trend
that won’t stop anytime soon so every power generator is trying to develop a strategy where they can benefit from the transition period.”
David Crane, a former chief executive, had tried to do
that by transforming the company into the Google of green energy, investing in big renewable-energy projects and buying small start-ups to help capture emerging markets like rooftop solar, electric-vehicle charging and home automation.
But in an emailed statement on Thursday, Elliott said
that if a buyer in the market were willing to pay a premium for some of NRG’s renewables businesses, “it may be a good decision for NRG and its shareholders to crystallize that value.”
Most of the company’s power plants run on fossil fuels like coal and natural gas,
but it has extensive wind and solar farms, including several unfinished projects it bought last year from SunEdison, which had gone bankrupt.
“The debate is simply over who is the best long-term owner of individual assets and fleets of assets
that currently reside inside the broader NRG portfolio.”
Mr. Smitherman and Mr. Wilder are two of three independent board members on a five-member committee formed as part of the agreement with Elliott
and Bluescape to make recommendations about cost savings, asset sales and other potential actions, according to Mr. Stringer’s letter.
The conflict has its roots in efforts led by Elliott Management, a multibillion-dollar hedge fund run by Paul E. Singer,
and Bluescape Energy Partners, run by C. John Wilder, a former executive at the Texas utility TXU who has been credited with its turnaround.