CenterPoint Purchases Renewable Energy for 70,000 Homes

CenterPoint Purchases Renewable Energy for 70,000 Homes

CenterPoint Energy, Inc. (NYSE: CNP) announced its Indiana-based electric utility business, CenterPoint Energy Indiana South, received 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 PPAs consist of 185 MWs of solar power under a 15-year PPA from Oriden, which is developing a solar project in Vermillion County, IN, and 150 MWs of solar power, under a 20-year PPA from Origis Energy, which is developing a solar project in Knox County, Ind. The 335 MWs from both developments are expected to supply enough power to meet the needs of more than 70,000 homes or 12,000 commercial customers each year.

“The additional energy obtained through these PPAs will further CenterPoint Energy’s Smart Energy Future strategy and continue our efforts to bring clean energy to the communities we serve,” said Steve Greenley, Senior Vice President, Generation Development for CenterPoint Energy. “We appreciate the continued efforts of Oriden and Origis Energy as they bring these projects to fruition and thank their leadership teams as well as the community partners in Vermillion and Knox Counties.”

The PPAs represent the next component of the company’s Smart Energy Future Plan to support stakeholder sustainability goals and implement a cost-effective, well-balanced energy mix for its 150,000 customers in southwest Indiana as outlined in its Integrated Resource Plan (IRP). CenterPoint Energy is focused on achieving its net-zero goals for its Scope 1 greenhouse gas emissions by 2035 by building out its renewable resources.

CenterPoint Energy’s IRP includes a plan for a portfolio with 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. In addition to the PPAs, the company previously received approval to acquire a solar array in Posey County and an additional PPA in Warrick County. CenterPoint Energy is awaiting an order on the application requesting approval to construct two natural gas combustion turbines to replace portions of its existing coal-fired generation fleet.

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.

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