EVANSVILLE, Ind., Aug. 25, 2021 /PRNewswire/ -- CenterPoint Energy
(NYSE: CNP) today announced its Indiana-based electric and natural gas
business, CenterPoint Energy Indiana South, has filed a request for
approval from the Indiana Utility Regulatory Commission (IURC) to
enter into two power purchase agreements (PPAs) for an additional
335 megawatts (MWs) of solar energy as part of the next component
in the company's long-term electric generation transition plan.
The company is requesting approval to purchase 185 MWs of solar
power, under a 15-year PPA, from Oriden, which is developing a
solar project in Vermillion County,
Ind., and 150 MWs of solar power, under a 20-year PPA, from
Origis Energy, which is developing a solar project in Knox County, Ind. Subject to necessary
approvals, both solar arrays are expected to be in service by 2023.
The total 335 MWs from these developments is expected to supply
enough power to meet the needs of more than 70,000 homes or 12,000
commercial customers per year.
"These additional renewable resources would serve our local
electric customers, providing a cost-effective, stable energy
option," said Steve Greenley, Senior
Vice President, Indiana Electric Operations for CenterPoint Energy.
"We look forward to partnering with Oriden and Origis Energy as
they 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 electric
generation transition plan. In February, the company filed a
request with the IURC seeking approval to acquire a 300 MW solar
array and an additional 100 MW PPA. In June, the company filed an
application requesting approval to construct two natural gas
combustion turbines to replace portions of its existing coal-fired
generation fleet.
"Oriden is proud to support CenterPoint Energy's efforts to
diversify their electric 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 leadership team at the Vermillion Rise Mega Park and our
partners in Vermillion County for
supporting this important initiative."
The PPAs totaling 335 MWs represent the next component of the
company's Smart Energy Future Plan to meet stakeholder
sustainability goals and implement a cost-effective, well-balanced
energy mix for its 145,000 customers in southwest Indiana as outlined in last summer's
Integrated Resource Plan (IRP). In June
2020, CenterPoint Energy presented the IRP results, which
illustrated a preferred portfolio including nearly two-thirds of
energy generated from renewable resources and includes flexible
generation to meet seasonal peak loads. The portfolio seeks to
maintain continued reliability, while saving electric customers an
estimated $320 million over the
20-year planning period.
Johan Vanhee, Chief Commercial
and Procurement Officer with Origis Energy said, "We thank
CenterPoint Energy for partnering with Origis Energy to acquire
clean power from our solar project in Knox County. We look forward to the completion
of the project to assist CenterPoint Energy in meeting the future
energy needs of its southwestern Indiana electric customers."
Greenley added, "The additional energy obtained through the
power purchase agreements will further CenterPoint Energy's Smart
Energy Future strategy. We're pleased to be working with trusted
developers in pursuit of continued renewable generation to support
the communities we serve."
CenterPoint Energy delivers electricity to approximately 145,000
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, such as the entry into and proposed
regulatory approval of the two PPAs and timing thereof, the
Company's long-term electric generation transition plan and
expected timing, benefits and generation mix resulting therefrom,
expected timing of completion and power to be generated from the
solar projects related to the two PPAs, anticipated 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 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 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 fiscal year ended December
31, 2020, CenterPoint Energy's Quarterly Reports on Form
10-Q for the quarters ended March 31,
2021 and June 30, 2021 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 Arkansas,
Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of June 30, 2021, the company
owned approximately $36 billion in assets and also owned
53.7 percent of the common units representing limited partner
interests in Enable Midstream Partners, LP, a publicly traded
master limited partnership that owns, operates and develops
strategically located natural gas and crude oil infrastructure
assets. With approximately 9,500 employees, CenterPoint
Energy and its predecessor companies have been in business for
more than 150 years. For more information,
visit CenterPointEnergy.com.
About Oriden
Located in Pittsburgh, Oriden develops, constructs,
finances, owns and operates renewable energy projects throughout
the United States. As local
governments, public institutions and corporations prioritize
cleaner sources for their energy needs, they want a developer with
the ingenuity, the agility and the speed of a start-up — a fearless
pioneer. But they also want to mitigate risk with a proven veteran
that has the financial strength and experience to develop,
commercialize, operate and own a highly complex project. Oriden is
an authorized provider of the power solutions brand of Mitsubishi
Power Americas, Inc., which has more than a century of experience
manufacturing, servicing and providing power and energy solutions
globally. For more information, visit the Oriden
website and the Mitsubishi Power Americas website.
About Origis Energy
Origis Energy is bringing clean
and cost effective solar and energy storage solutions within reach
for utility, commercial and industrial as well as public sector
clients. The Origis team has worked to ensure the interests of all
stakeholders are upheld in 170 projects worldwide totaling more
than 4 GW to date of developed solar and energy storage capacity.
Headquartered in Miami, FL, Origis
Energy delivers excellence in solar and energy storage development,
financing, engineering, procurement and construction (EPC) and
operations, maintenance and asset management for investors and
clean energy consumers in the U.S.
For more information, contact
Media Relations
Media.Relations@CenterPointEnergy.com
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SOURCE CenterPoint Energy, Inc.