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EVANSVILLE, Ind., March 20, 2019 (GLOBE NEWSWIRE) -- Today, Vectren Energy Delivery of Indiana – South (Vectren), a CenterPoint Energy company, announced it has received approval from the Indiana Utility Regulatory Commission (IURC) to build a 50-megawatt (MW) universal solar array in eastern Spencer County as part of Vectren’s long-term electric generation transition plan. The solar farm will be located near Troy, Ind., on approximately 300 acres and will consist of about 150,000 solar panels. Today’s approval marks the next step toward Vectren’s carbon reduction plan of lowering carbon emissions by 60% over 2005 levels by 2024.
“We are pleased to receive authorization from the IURC as the final step in the process to adding more solar electric generation to our portfolio,” said Lynnae Wilson, chief business officer, Indiana electric. “This significant renewable resource, a key piece of Vectren’s Smart Energy Future vision, will be among the largest single-sited solar farms in the state and will serve Vectren customers for decades to come.”
Vectren’s 4 MW of solar generation already in service and this planned facility, which should be fully operational in the fall of 2020, are expected to generate enough power to meet the needs of more than 12,000 households per year. When including Vectren’s 80 MW of wind power purchased through contracts with the Benton County and Fowler Ridge wind farms and its 3.2-MW landfill gas facility in Pike County, there will be enough renewable energy in Vectren’s portfolio to power more than 35,000 homes.
In October, Vectren reached an agreement with the Indiana Offices of Utility Consumer Counselor (OUCC) and the Citizens Action Coalition to create a customer-friendly rate mechanism that maximizes the available tax incentives associated with solar projects and spreads all costs evenly over a 35-year period.
Construction to support the solar farm is expected to begin later this year. First Solar, a leading global provider of comprehensive photovoltaic (PV) solar systems, will build the solar farm. Vectren worked with Orion Renewable Power Resources LLC, a joint venture between Orion Renewable Energy Group and MAP® Renewable Energy, to select, secure and develop the property.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 expected decreases in carbon emissions and the timing of such decreases, the anticipated timing of completion of the project 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. Factors that could affect actual results include timing and impact of future regulatory and legislative decisions, weather variations, changes in business plans and other factors discussed in CenterPoint Energy’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.
About CenterPoint Energy
Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers primarily in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy’s competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 54.0 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 14,000 employees and nearly $29 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.
Media Contact: Natalie Hedde, (812) 491-5105 or firstname.lastname@example.org