CenterPoint Energy seeks approval for 130 megawatts of renewable energy to serve southwestern Indiana
- Renewables represent third round of proposed solar agreements related to company's Smart Energy Future Plan
- CenterPoint Energy selects Pike County for 130-megawatt solar array development
EVANSVILLE, Ind., July 29, 2022 /PRNewswire/ -- CenterPoint Energy (NYSE: CNP) today announced its Indiana-based electric and natural gas business, CenterPoint Energy Indiana South, is seeking approval from the Indiana Utility Regulatory Commission (IURC) to acquire a 130-megawatt (MW) solar array as part of the company's long-term electric generation transition plan.
CenterPoint Energy has entered into an agreement with Invenergy, who will construct the 130-MW utility-owned project in Pike County, Ind., to acquire the project upon its completion. This project represents the third round of solar agreements introduced as part of the utility's plan to meet stakeholder sustainability goals and implement a more cost-effective and diversified energy generation portfolio. The agreement is subject to IURC approval. The company was previously granted approval to build a solar array in Posey County now sized at 200 MW, as well as enter into power purchase agreements totaling more than 400 MWs in Warrick, Vermillion and Knox Counties in Indiana.
"By seeking to add another universal solar project to our renewable energy portfolio, we continue to move forward with our long-term generation transition plan and remain committed to our economic and environmental goals for the region," said Steve Greenley, Senior Vice President of Generation Development. "If approved, with the addition of this project, CenterPoint Energy will be adding nearly 800 MWs of solar generation to power our southwestern Indiana customers."
Michael Kaplan, Senior Vice President of Renewable Development at Invenergy, said, "Invenergy is pleased to be working with CenterPoint Energy to support the utility's generation transition goals and to provide its customers in Indiana with clean energy. Our team looks forward to the completion of this project and growing our project portfolio within the state."
Construction of the Pike County solar project is expected to begin upon obtaining a decision from the IURC which is expected in early 2023. The project will support approximately 130 construction jobs during the construction period and is expected to be placed into service in 2025.
"We are committed to delivering reliable energy generation in the most cost-effective manner for our customers, while contributing to Indiana's clean energy infrastructure," added Greenley. "CenterPoint Energy would like to recognize officials in Pike County for their support of this project and efforts to bring cleaner energy solutions to our communities."
For more information on CenterPoint Energy's long-term electric generation transition plan, visit www.centerpointenergy.com/smartenergyfuture.
CenterPoint Energy delivers electricity to approximately 150,000 customers in southwest Indiana in all or portions of Gibson, Dubois, Pike, Posey, Spencer, Vanderburgh and Warrick counties. Programs and services are operated under the brand CenterPoint Energy by Southern Indiana Gas and Electric Company d/b/a CenterPoint Energy Indiana South.
Forward Looking Statement:
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time 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 statements in this news release regarding future events, including anticipated cost and timing of the project, including IURC approval and construction, the number of anticipated job opportunities related to the project, the anticipated size and capacity of the generation transition plan and the mix of renewable resources for CenterPoint Energy's generation transition, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of disruption to the global supply chain; (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 fiscal year ended December 31, 2021, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.
About CenterPoint Energy
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of March 31, 2022, the company owned approximately $35 billion in assets. With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.
About Invenergy
Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe, and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland, and Scotland.
Invenergy and its affiliated companies have successfully developed more than 30,000 megawatts of projects that are in operation, construction, or contracted, including wind, solar, transmission infrastructure and natural gas power generation and advanced energy storage projects. Learn about Invenergy at Invenergy.com.
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SOURCE CenterPoint Energy, Inc.
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