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Press Releases

6/1/2020 - BGC's Amerex Energy Services Facilitates the City of Houston's Commitment to Buying 100% Renewable Energy
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BGC's Amerex Energy Services Facilitates the City of Houston's Commitment to Buying 100% Renewable Energy
Source: PR Newswire
HOUSTON, June 1, 2020 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("the Company" or "BGC"), a leading global brokerage and financial technology company, today announced that its subsidiary Amerex Energy Services ("Amerex") served as consultant and adviser to the City of Houston in its recent competitive power solicitation. This resulted in the City purchasing 100% renewable power from NRG Energy, Inc. (NYSE: NRG) ("NRG"), which will serve as the City's retail energy supplier. This 100% renewable energy purchase will commence on July 1, 2020 and continue for five years, with the City holding two one-year renewal options.
Amerex Managing Director, John Bolton commented: "Providing price risk management guidance for a client of this size and complexity is challenging, but one that fits perfectly within Amerex's boutique-level service offering. Assisting in the development of the 100% renewable pricing structure that considers diverse assets spread across nearly 6,000 meters and incorporating the City's pre-existing 50 MW solar power purchase agreement required a unique and elegant solution. We are very thankful for the trust the City of Houston placed in us."
"With the support of Amerex as our energy consultants, the City of Houston was able to secure a renewed partnership with NRG, that includes purchasing 100% renewable energy and significant budgetary savings. This was a very complex procurement, but the industry knowledge and expertise provided by Amerex was paramount in closing the deal," said Will Jones, Deputy Director, City of Houston.
About Amerex Energy Services:
Based in Houston, Amerex Energy Services is a leading energy consulting firm that advises commercial, industrial, governmental and institutional entities in developing and implementing energy management and sustainability strategies. With 40 years of wholesale and over 15 years of retail energy experience, Amerex offers exceptional market intelligence and depth of experience in providing comprehensive energy price risk management services. Amerex Energy Services is the retail consulting division of Amerex Brokers LLC, which is a wholly-owned subsidiary of BGC Partners, Inc. You can learn more about Amerex Energy Services and the BGC family of companies at www.amerexenergyservices.com.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage and financial technology company. BGC's offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad range of financial and non-financial institutions. Through brands including Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, Fenics Market Data, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC Partners, Inc. and/or its affiliates. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC's Class A common stock trades on the NASDAQ Global Select Market under the ticker symbol "BGCP".
BGC Partners is led by Chairman of the Board and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com. You can also follow BGC at https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and/or http://ir.bgcpartners.com/Investors/default.aspx.
Discussion of Forward-Looking Statements about BGC
Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
CONTACT: Karen Laureano-Rikardsen, 1-212-8294975, klrikardsen@cantor.com
 
 
View original content to download multimedia:http://www.prnewswire.com/news-releases/bgcs-amerex-energy-services-facilitates-the-city-of-houstons-commitment-to-buying-100-renewable-energy-301068271.html
SOURCE BGC Partners, Inc.

Article Date
6/1/2020
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7/6/2016 - MGM Resorts International and NRG Energy Complete the Installation of Nation's Largest Rooftop Solar Array
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MGM Resorts International and NRG Energy Complete the Installation of Nation's Largest Rooftop Solar Array
Source: PR Newswire
LAS VEGAS, July 6, 2016 /PRNewswire/ -- NRG Energy, Inc. (NYSE: NRG) and MGM Resorts International (NYSE: MGM) today announced the completed expansion of the nation's largest rooftop solar array. On the roof of the Mandalay Bay Convention Center, the expanded solar array has more than 26,000 photovoltaic panels and produces a combined 8.3 MW dc (6.5 MW ac) of electricity, a new national record for rooftop arrays. At full production, the system supplies 25% of the power demand of the entire Mandalay Bay Resort & Casino campus.  
It is projected that the expanded solar installation will displace approximately 8,400 metric tons of carbon dioxide (CO2) annually, the equivalent of taking more than 1,700 automobiles off the road. The electricity produced is also equivalent to the average annual usage of 1,340 U.S. homes. Since completion of the first phase in 2014, the project has helped provide pricing stability for MGM Resorts, while reducing the amount of energy drawn from the southern Nevada grid during times of peak electricity demand.  
"MGM Resorts International has a long history of integrating environmentally responsible practices throughout our operations to help preserve the planet's limited resources," said Cindy Ortega, Senior Vice President and Chief Sustainability Officer of MGM Resorts International. "Our continued partnership with NRG is a source of pride and inspires our desire to continually implement innovative solutions that promote renewable energy."
Chuck Bowling, President and COO of Mandalay Bay Resort & Casino added: "The expansion of our rooftop solar installation at Mandalay Bay significantly advances our resort's commitment to being a leading sustainable destination for conferences and conventions. Utilizing energy produced from a renewable resource is a cornerstone of our comprehensive strategy of sustainable operations."
"Companies like MGM Resorts are driving an evolution in America's energy mix as they seek cleaner sources of power that provide more certainty over energy costs," said Craig Cornelius, Senior Vice President of NRG Energy and head of NRG's Renewables group. "The solar array atop Mandalay Bay is stunning in its scope and functionality, and we're thrilled to have MGM as a partner."
The expanded project uses technology from Ten K Solar. Ten K's REFLECT™ system consists of 4,644 Modules, 180 inverters and a fully integrated Ten K racking system with no roof penetrations. The racking system uses 3M Cool Mirror Film™ to reflect only the light wavelengths usable by the photovoltaic cells. Ten K's parallel cell and module architecture allows for modules to capture non-uniform irradiance coming from reflected light. The architecture further eliminates any single points of failure, increasing total system availability and reducing operation  and maintenance costs.
NRG owns and operates the installation for MGM Resorts at Mandalay Bay Resort and Casino. Through a 25-year Power Purchase Agreement (PPA), Mandalay Bay Resort will purchase all the electricity generated by both solar arrays.
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company is in the process of developing MGM National Harbor in Maryland and MGM Springfield in Massachusetts. MGM Resorts controls, and holds a 73 percent economic interest in the operating partnership of MGM Growth Properties LLC (NYSE: MGP), a premier triple-net lease real estate investment trust engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. The Company also owns 51 percent of MGM China Holdings Limited (HK: 2282), which owns the MGM Macau resort and casino and is developing a gaming resort in Cotai, and 50 percent of CityCenter in Las Vegas, which features ARIA Resort & Casino. MGM Resorts is named among FORTUNE® Magazine's 2016 list of World's Most Admired Companies^®. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.
About NRG
NRG is the leading integrated power company in the U.S., built on the strength of the nation's largest and most diverse competitive electric generation portfolio and leading retail electricity platform. A Fortune 200 company, NRG creates value through best in class operations, reliable and efficient electric generation, and a retail platform serving residential and commercial businesses. Working with electricity customers, large and small, we continually innovate, embrace and implement sustainable solutions for producing and managing energy. We aim to be pioneers in developing smarter energy choices and delivering exceptional service as our retail electricity providers serve almost 3 million residential and commercial customers throughout the country.
 
SOURCE MGM Resorts International

Article Date
7/6/2016
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