- Press Releases
February 24 (Renewables Now) - US power utility CenterPoint Energy Inc (NYSE:CNP) is seeking regulatory clearance to acquire a 300-MW solar project in Indiana and buy power from an additional 100 MW of solar capacity in the state.
Approval for both deals is sought from the Indiana Utility Regulatory Commission (IURC). CenterPoint anticipates the agency's decision on the matter to be issued in late 2021 or early 2022, it said on Tuesday.
Through local subsidiary CenterPoint Energy Indiana South, the utility plans to enter an agreement to buy from Capital Dynamics a 300-MW solar project the latter is developing in Posey County together with Arevon Energy Management and Tenaska. The scheme involves the installation of over 730,000 photovoltaic (PV) panels that are expected to generate electricity for over 50,000 homes per year. It is planned to be put on stream in 2023.
Construction, which will take 14-18 months, will begin after the necessary approvals are obtained.
Separately, the utility is seeking IURC’s nod to buy electricity from 100 MW of solar capacity at a 200-MW project being developed by Clenera in Southwestern Indiana. The power purchase agreement (PPA) is to be signed for 25 years. The power plant will be commissioned by 2023.
The two agreements support CenterPoint’s long-term electric generation transition plan and its goal of cutting operational carbon dioxide (CO2) emissions by 70% by 2035. The new capacity, if contracted, will meet demand under its Smart Energy Future plan.