EVANSVILLE, Ind., Oct. 27, 2021 /PRNewswire/ -- CenterPoint
Energy, Inc. (NYSE: CNP) today announced its Indiana-based electric and natural gas
business, CenterPoint Energy Indiana South, received approval from
the Indiana Utility Regulatory Commission to acquire a 300-megawatt
(MW) solar array, as well as enter into a power purchase agreement
(PPA) for an additional 100 MWs of solar energy as part of the
company's long-term electric generation transition plan.
CenterPoint Energy entered into an agreement with Arevon Energy
Management, the company that will build the utility-owned project
in Posey County, Ind. The
agreement required approval by the Commission. Arevon Energy
Management and energy company Tenaska are co-developing the
project. CenterPoint Energy will also purchase additional solar
power from Clēnera, which is developing a solar project in
Warrick County, Ind., under a
25-year contract.
Together, the approval of these renewable energy projects
solidifies the next component of CenterPoint Energy's long-term
electric generation transition plan, meeting stakeholder
sustainability goals, and implementing the most economic path
forward as outlined in the company's Integrated Resource Plan. The
continued build out of renewable resources is reflective of
CenterPoint Energy's commitment to renewable resources and its
net-zero carbon by 2035 emissions goals. More information on the
company's net-zero goals can be found at
www.sustainability.centerpointenergy.com.
"We're pleased to receive regulatory approval to move forward
with these significant renewable resources, which will 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 the continued work with these companies to
bring the Posey County solar array
to fruition and provide additional clean energy to our customers
through the Warrick County PPA."
Construction of the solar project with Arevon Energy Management
is scheduled to be in service by 2023. The initial construction
phase will require establishing a sub-station to interconnect with
CenterPoint Energy's power grid. The solar array is anticipated to
generate enough power to meet the needs of more than 50,000
households per year, while also helping large customers achieve
their individual sustainability goals.
Clēnera projects its solar array will be in service by 2023.
CenterPoint Energy's PPA entitles it to 100 MW of the array, which
will generate enough power to meet the needs of more than 18,500
homes per year.
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 CenterPoint Energy'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 solar array and PPA, the ability to meet CenterPoint
Energy's net zero goals on the timeline indicated, 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; (8) growth in CenterPoint Energy's
service territory and changes in market demand; (9) CenterPoint
Energy's ability to execute on operations initiatives, targets and
goals; and (10) 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.
For more information, contact
Media Relations
Media.Relations@CenterPointEnergy.com
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SOURCE CenterPoint Energy, Inc.