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Bruce Chung is a highly accomplished senior operations and finance executive with a remarkable track record in strategy, M&A, business development, and growth and innovation. With over 1749 LinkedIn connections, Bruce has established a vast network in the industry. Currently serving as the EVP and Chief Financial Officer at NRG Energy, Bruce has been instrumental in driving the company's success and growth.
Bruce's expertise lies in the fields of renewables, energy technology, power, utilities, investment banking, venture capital, and private equity. Throughout their career, Bruce has led critical initiatives, including the execution of multi-million dollar projects such as the world's largest post-combustion carbon capture project. They have also played a pivotal role in establishing new businesses within NRG through strategic partnerships, acquisitions, and organic development.
Prior to joining NRG Energy, Bruce held senior positions at Energy Impact Partners, NRG Carbon 360, NRG Alternative Energy Services, and Nuclear Innovation North America. Bruce's finance background is evident from their experience at Citigroup Global Markets, where they were involved in investment banking, capital raising, and financial planning and analysis.
Bruce holds a Bachelor of Arts (B.A.) degree in History from Columbia University, demonstrating their ability to bring a unique perspective to their role. With their extensive experience, impressive achievements, and wide-ranging expertise, Bruce Chung is undoubtedly an exceptional and influential professional in the energy industry.
More about this expert
- Full name
- Bruce Chung
- Location
- New York City Metropolitan Area
- Title
- EVP and Chief Financial Officer
- Company
- NRG Energy (since 2023)
- LinkedIn profile
- https://www.linkedin.com/in/bruce-chung-43914644/
- LinkedIn Connections
- 1749
- Summary
- Senior operations and finance executive with extensive strategy, M&A, business development, and growth and innovation experience. Specialties: Strategy and M&A Origination and Execution, Strategic and Business Plan Execution, Capital Raising, Venture Investing, Strategic Partnerships Fields of Expertise: Renewables, Energy Technology, Power, Utilities, Investment Banking, Venture Capital, Private Equity
- Skills
- Corporate Finance Due Diligence
Education
- Columbia University
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Bachelor of Arts (B.A.)
Attended in 1992 - 1996
Field of study: History
Positions
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NRG Energy
Princeton, New Jersey, United States · On-site
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EVP and Chief Financial Officer
Jun 2023 - Present
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NRG Energy
Princeton, New Jersey, United States
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Executive Vice President - Strategy, M&A and NRG Services
Aug 2022 - Jun 2023
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NRG Energy
Princeton, New Jersey, United States
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SVP, Strategy and M&A and NRG Services
Jan 2021 - Aug 2022
• Oversee corporate strategy and M&A function in addition to newly created business unit, NRG Services
• NRG Services comprised of various consumer service brands, including Airtron Heating and Air Conditioning, Home Warranty of America, American Water Heater Rental and Goal Zero
• NRG Services is powered by over 1,500 employees and generates over $600 million in revenues
• NRG Services conducts business in all 50 states as well as various locations in Canada, Europe and Asia
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Energy Impact Partners
Greater New York City Area
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Managing Director
Jan 2016 - Jul 2016
Energy Impact Partners (EIP) is an investment firm focused on companies optimizing energy consumption and improving sustainable energy generation. EIP is based on a collaborative strategic investment approach, which brings the best companies, buying power and vision in the industry to bear on the emerging energy landscape.
• Led one of three investment teams with a specific focus on behind-the-meter energy storage, distributed generation operating and financing platforms and energy-as-a-service business models
• Worked with Managing Partner on fund raising activities focusing on potential domestic and international utility partners
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NRG Energy - NRG Carbon 360
Houston, TX
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Senior Vice President
Sep 2014 - Jan 2016
• Head - Finance and Asset Management of NRG Carbon 360, NRG's carbon capture and carbon beneficiation subsidiary
• Oversee daily activities related to the execution of the $1B Petra Nova Project, NRG Carbon 360’s first carbon capture and enhanced oil recovery project. The Petra Nova Project will be the world’s largest post-combustion carbon capture project once completed
• Manage all aspects of Carbon 360 accounting, budgeting, cash flow forecasting, cash management, accounts receivable/payable, long range planning and project financing activities
• Integrally involved in commercial, financial and structuring aspects on all business development opportunities involving new potential carbon capture projects, oil field acquisitions and new carbon capture technology evaluations and deployments
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NRG Energy - NRG Carbon 360
Princeton, NJ
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Senior Vice President
Aug 2011 - Sep 2014
• Head - Strategy and Finance for NRG Alternative Energy Services, NRG's new businesses platform
• Established new businesses within NRG through organic development, acquisition, equity investments and strategic partnerships, and worked with newly established businesses in formulating and executing strategic, operating and financing growth plans
• Played central role in establishing NRG’s residential solar business, NRG Home Solar
– Provided operational and strategic oversight to Home Solar business, helping to guide the business from a 30 person organization to the #4 player in the residential solar industry
– Provided day-to-day management oversight during six month leadership transition period
– Led acquisitions of Roof Diagnostics Solar and Pure Energies
– Oversaw NRG Home Solar structured finance team focused on origination, execution, administration and management of third party tax-equity and lease financings
• Managed NRG’s Venture Investments practice, including NRG’s direct venture capital investing activities and NRG's participation in Energy Technology Ventures, a joint venture between GE, NRG, and ConocoPhillips
– Made direct investments in six companies (energy storage, energy efficiency, distributed wind) totaling approximately $21 million
• Led financing efforts for the Petra Nova Project, including a $300 million equity investment from JX Nippon, Japan’s second largest oil company, and a $250 million non-recourse project debt financing from the Japan Bank for International Cooperation (JBIC) and Nippon Export Insurance Program (NEXI)
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Nuclear Innovation North America LLC (a joint venture company of NRG Energy)
New York, NY
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Chief Financial Officer
Apr 2008 - Aug 2011
• Served as CFO for a nuclear power plant development joint venture between NRG and Toshiba Corporation
• Worked extensively with the U.S. Department of Energy, JBIC and NEXI in developing an $11 billion project financing structure for the STP 3&4 nuclear power plant development project
• Led the execution and negotiation of over $1B in equity investments, commitments and vendor financings with multiple counterparties
• Oversaw all aspects of budgeting, forecasting, long range planning and cash management activities for the company
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Citigroup Global Markets
New York, NY
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Investment Banking (Director)
Jun 1998 - Apr 2008
• Day-to-day coverage and account management for a number of regulated electric utilities and wholesale power generators
• Participated in all stages of corporate and asset specific mergers and acquisitions advisory and execution
• Participated in over $100 billion of capital raising transactions across multiple products, including project financing, investment grade and high yield debt, equity and equity-linked securities and preferred stock
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Citigroup Global Markets
New York, NY
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Financial Planning and Analysis (Analyst)
Jun 1996 - Jun 1998
• Analyzed and implemented various restructuring initiatives in conjunction with senior management and various business units of Salomon Smith Barney
• Created detailed financial models analyzing the performance of Salomon Smith Barney’s Global Fixed Income, Global Arbitrage and Municipals Securities businesses
• Assisted in coordinating the annual business planning and budgeting processes for various Salomon Smith Barney business units
• Prepared management reports and business reviews on a monthly, quarterly, and annual basis for Salomon Smith Barney executive management