MERRILLVILLE, Ind.,
Feb. 1, 2019 /PRNewswire/
-- NIPSCO, a subsidiary of NiSource Inc. (NYSE: NI), today
announced the first phase of its plans to transition to lower-cost
renewable energy resources, with the addition of three new wind
farms that will be based in Indiana and tied into NIPSCO's electric system
serving nearly 500,000 electric customers.
The announcement is part of the energy provider's "Your Energy,
Your Future" initiative – a customer-centric effort focused on
delivering a more affordable and sustainable energy mix.
Under NIPSCO's plans to be coal-free by 2028, the company
expects to begin replacing the coal-fired generation with a
combination of wind, solar and battery storage
technology.
"We're excited for the opportunity to add more home-grown
renewable energy in Indiana," said
Violet Sistovaris, NIPSCO president.
"In addition to the economic benefits that projects like these add,
the transition we're making in our electric generation equates to
an estimated $4 billion in
cost-savings for customers over the long-term."
NIPSCO has finalized agreements with three experienced renewable
energy developers – Apex Clean Energy, EDP Renewables North America
LLC and NextEra Energy Resources, LLC. The new wind capacity
is expected to be in operation by late 2020 with the three
announced projects representing approximately 800 megawatts (MW) of
nameplate capacity.
Based on NIPSCO's preferred plan, the amount of renewable energy
resources NIPSCO is planning to add to its system over the next
decade would more than double the amount of existing renewable
energy in the state of Indiana – a
move that would put the state among the leading renewable producers
in the nation.
Project Profiles
The three projects were selected
following a comprehensive review of bids submitted through the all
source Request for Proposal (RFP) solicitation that NIPSCO ran as
part of its 2018 Integrated Resource Plan process – which concluded
that wind and solar resources were shown to be lower cost options
for customers compared to other energy resource options.
NIPSCO has requested the addition of these new projects in
filings with the Indiana Utility Regulatory Commission.
- Jordan Creek – The 400 MW
wind project, to be developed and constructed by NextEra Energy
Resources, LLC will be located in Benton and Warren counties, near Williamsport, Ind. The project will include an
estimated 160 wind turbines. NIPSCO will purchase the power
directly from Jordan Creek, who will
operate and maintain the facilities.
- Roaming Bison – The 300 MW wind project, to be developed
and constructed by Apex Clean Energy will be located in
Montgomery County, near
Waynetown, Ind. The project will
include an estimated 107 turbines. NIPSCO will purchase the power
directly from Roaming Bison, who will operate and maintain the
facilities.
- Rosewater – The 102 MW wind project, to be developed and
constructed by EDP Renewables North America LLC will be located in
White County, Ind. The project
will include an estimated 25 turbines. EDP Renewables, who will
construct the wind farm, and NIPSCO entered into a joint venture
and ownership agreement for the Rosewater project.
NIPSCO expects to announce additional renewable projects and
plans to issue a second RFP later in the year.
About NIPSCO: Northern Indiana Public
Service Company LLC (NIPSCO), with headquarters in Merrillville, Indiana, has proudly served the
energy needs of northern Indiana
for more than 100 years. As Indiana's largest natural gas distribution
company and the second-largest electric distribution company,
NIPSCO serves approximately 820,000 natural gas and 460,000
electric customers across 32 counties. NIPSCO is part of NiSource's
(NYSE: NI) seven regulated utility companies. NiSource is one of
the largest fully regulated utility companies in the United States, serving approximately 4
million natural gas and electric customers through its local
Columbia Gas and NIPSCO brands. More information about NIPSCO and
NiSource is available at NIPSCO.com and NiSource.com.
About NiSource NiSource Inc. (NYSE: NI) is one
of the largest fully-regulated utility companies in the United States, serving approximately 3.5
million natural gas customers and 500,000 electric customers across
seven states through its local Columbia Gas and NIPSCO brands.
Based in Merrillville, Indiana,
NiSource's approximately 8,000 employees are focused on safely
delivering reliable and affordable energy to our customers and
communities we serve. NiSource has been designated a World's Most
Ethical Company by the Ethisphere Institute since 2012, is a member
of the Dow Jones Sustainability - North America Index and was named
by Forbes magazine as the top-rated utility among America's Best
Large Employers in 2017. Additional information about NiSource, its
investments in modern infrastructure and systems, its commitments
and its local brands can be found at www.nisource.com. Follow us at
www.facebook.com/nisource,
www.linkedin.com/company/nisource or
www.twitter.com/nisourceinc. NI-F
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of federal securities
laws. Investors and prospective investors should understand that
many factors govern whether any forward-looking statement contained
herein will be or can be realized. Any one of those factors could
cause actual results to differ materially from those projected.
Examples of forward-looking statements in this press release
include statements and expectations regarding NiSource's or any of
its subsidiaries' business, performance, growth, commitments,
investment opportunities, and planned, identified, infrastructure
or utility investments. All forward-looking statements are based on
assumptions that management believes to be reasonable; however,
there can be no assurance that actual results will not differ
materially. Factors that could cause actual results to differ
materially from the projections, forecasts, estimates, plans,
expectations and strategy discussed in this press release include,
among other things, NiSource's debt obligations; any changes in
NiSource's credit rating; NiSource's ability to execute its growth
strategy; changes in general economic, capital and commodity market
conditions; pension funding obligations; economic regulation and
the impact of regulatory rate reviews; NiSource's ability to obtain
expected financial or regulatory outcomes; any damage to NiSource's
reputation; compliance with environmental laws and the costs of
associated liabilities; fluctuations in demand from residential and
commercial customers; economic conditions of certain industries;
the success of NIPSCO's electric generation strategy; the price of
energy commodities and related transportation costs or an inability
to obtain an adequate, reliable and cost-effective fuel supply to
meet customer demands; the reliability of customers and suppliers
to fulfill their payment and contractual obligations; potential
impairments of goodwill or definite-lived intangible assets;
changes in taxation and accounting principles; potential incidents
and other operating risks associated with our business; the impact
of an aging infrastructure; the impact of climate change; potential
cyber-attacks; construction risks and natural gas costs and supply
risks; extreme weather conditions; the attraction and retention of
a qualified work force; advances in technology; the ability of
NiSource's subsidiaries to generate cash; tax liabilities
associated with the separation of Columbia Pipeline Group, Inc.;
NiSource's ability to manage new initiatives and organizational
changes; the performance of third-party suppliers and service
providers; the availability of insurance to cover all significant
losses and other matters set forth in Item 1A, "Risk Factors"
section of NiSource's Annual Report on Form 10-K for the fiscal
year ended December 31, 2017 and in
other filings with the Securities and Exchange Commission. A credit
rating is not a recommendation to buy, sell or hold securities, and
may be subject to revision or withdrawal at any time by the
assigning rating organization. In addition, dividends are subject
to board approval. NiSource expressly disclaims any duty to update,
supplement or amend any of its forward-looking statements contained
in this press release, whether as a result of new information,
subsequent events or otherwise, except as required by applicable
law.
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SOURCE NIPSCO