CenterPoint Energy Seeks Approval for 335 Megawatts of Renewable Power Serving Southwest Indiana
EVANSVILLE, Ind., 25 August 2021 / PRNewswire / – CenterPoint Energy (NYSE: CNP) today announced its IndianaElectricity and natural gas company CenterPoint Energy Indiana South has applied for approval with the Indiana Utility Regulatory Commission (IURC) to enter into two power purchase agreements (PPAs) for 335 megawatts (MW) of additional solar power as part of the next leg of the company’s long-term power generation transition plan.
The company is seeking approval to purchase 185 MW of solar power, as part of a 15-year PPA, from Oriden, which is developing a solar project in Vermillion County, Ind., and 150 MW of solar energy, as part of a 20-year PPA, from Origis Energy, which is developing a solar project in Knox County, Ind. Subject to the necessary approvals, both solar panels are expected to be in service by 2023. The total of 335 MW from these developments is expected to provide enough electricity to meet the needs of more than 70,000 households or 12,000 commercial customers per. year.
“These additional renewable resources would serve our local electricity customers, providing a stable and cost effective energy option,” said Steve greenley, senior vice president, Indiana Electric Operations for CenterPoint Energy. “We look forward to partnering with Oriden and Origis Energy to bring these projects to fruition.”
In addition to the proposed PPAs, the company has filed and is awaiting an order on two other components of its power generation transition plan. In February, the company filed an application with the IURC for approval to acquire a 300 MW solar panel and an additional 100 MW PPA. In June, the company applied for permission to build two natural gas-fired combustion turbines to replace parts of its existing coal-fired generation fleet.
“Oriden is proud to support CenterPoint Energy’s efforts to diversify its power generation portfolio and contribute to the future of cleaner energy for its customers,” said Masahiro Ogiso, President and CEO of Oriden. “It really takes a team effort with our stakeholders to develop a successful renewable energy project like this. We would like to thank the Vermillion Rise Mega Park management team and our partners at Vermillion County for supporting this important initiative.
PPAs totaling 335 MW represent the next component of the company’s Smart Energy Future Plan to meet stakeholder sustainability goals and implement a profitable and well-balanced energy mix for its 145,000 customers in the South West Indiana as outlined in the Integrated Resource Plan (IRP) last summer. In june 2020, CenterPoint Energy presented the IRP results, which illustrated a preferred portfolio comprising nearly two-thirds of energy generated from renewable resources and including flexible generation to meet seasonal load peaks. The portfolio aims to maintain continuous reliability, while saving electrical customers approximately $ 320 million over the 20-year planning period.
Johan Vanhée, Commercial and Procurement Director at Origis Energy, said: “We thank CenterPoint Energy for partnering with Origis Energy to acquire clean energy from our solar project in Knox County. We look forward to the completion of the project to help CenterPoint Energy meet the future energy needs of its southwest. Indiana electric customers. ”
Greenley added, “The additional energy obtained through the power purchase agreements will strengthen CenterPoint Energy’s Smart Energy Future strategy. We are excited to work with trusted developers in the pursuit of continuous renewable generation to support the communities we serve.
CenterPoint Energy provides electricity to approximately 145,000 customers in the southwest Indiana in all or part of Gibson, Dubois, Pike, Posey, Spencer, Vanderburgh and Warrick counties. The programs and services are operated under the CenterPoint Energy brand by Southern Indiana Gas and Electric Company d / b / a CenterPoint Energy Indiana South.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate”, “believe”, “continue”, “may”, “Could”, “estimate”, “expect”, “foresee”, “goal”, “intend”, “may”, “objective”, “plan”, “potential”, “foresee”, ” projection “,” should “,” target “,” will “or other similar terms are intended to identify forward-looking statements. These forward-looking statements are based on management’s assumptions that are believed to be reasonable at the time they are made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statement contained in this press release regarding future events, such as the conclusion and proposed regulatory approval of the two PPAs and their timelines, the Company’s long-term power generation transition plan and expected timeline. , the resulting benefits and generation mix, the expected timing of completion and generation of electricity from the solar projects related to the two PPAs, the expected cost savings and other benefits to customers, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this press release speaks only as of the date of this press release. Important factors that could cause actual results to differ materially from those indicated by the forward-looking information provided include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy’s annual report on Form 10-K for the year ended. December 31, 2020, CenterPoint Energy’s quarterly reports on Form 10-Q for completed quarters March 31, 2021 and June 30, 2021 and other reports that CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.
About CenterPoint Energy
As the only Texas-based investor-owned electricity and gas utility, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electricity transmission and distribution operations, production of electricity and distribution of natural gas, which serve more than 7 million measured customers. in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of June 30, 2021, the company held approximately $ 36 billion in assets and also held 53.7% of the common shares representing limited partners’ interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develop strategically located natural resources. gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessors have been in business for over 150 years. For more information, visit CenterPointEnergy.com.
Situated in Pittsburgh, Oriden develops, builds, finances, owns and operates renewable energy projects through United States. As local governments, public institutions and businesses prioritize cleaner sources for their energy needs, they want a developer with the ingenuity, agility and speed of a start-up – a fearless pioneer. . But they also want to mitigate risk with a proven veteran who has the financial strength and experience to develop, market, operate and own a very complex project. Oriden is an authorized branded supplier of power solutions of Mitsubishi Power Americas, Inc., which has over a century of experience in the manufacture, service and delivery of power and power solutions. worldwide. For more information, visit the Oriden website and the Mitsubishi Power Americas website.
About Origis Energy
Origis Energy brings clean, cost-effective solar and energy storage solutions within reach of utility, commercial and industrial customers as well as the public sector. The Origis team has strived to defend the interests of all stakeholders in 170 projects around the world totaling more than 4 GW to date of developed solar and energy storage capacity. Based at Miami, Florida, Origis Energy provides excellence in development, financing, engineering, procurement and construction (EPC) and operation, maintenance and management of solar assets and energy storage for investors and clean energy consumers in the United States
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SOURCE CenterPoint Energy, Inc.