Issuance of second RFP targeting wind, solar and solar + storage resources

Rhea-AI Summary

CenterPoint Energy has launched a new request for proposals (RFP) to integrate wind and solar resources for Southern Indiana Gas and Electric Co. (SIGECO), serving 145,000 electric customers. This initiative is in response to the retirement of 730 MW of coal-fired generation by 2024, with plans to replace it with 700 to 1,000 MW of solar, solar + storage, and 300 MW of wind. The RFP aims to identify additional generation capacity to begin in 2023, facilitating the company's transition to renewable energy.

Positive

• Launch of RFP for 700-1,000 MW of solar and solar + storage resources.
• Retires 730 MW of coal-fired generation by 2024, transitioning to renewables.
• Targets to enhance energy supply to 145,000 customers.

Negative

• None.

EVANSVILLE, Ind., Aug. 12, 2020 /PRNewswire/ -- CenterPoint Energy has announced that its Indiana-based electric and gas business, Southern Indiana Gas and Electric Co. (SIGECO) is opening a new request for proposals (RFP) to seek a combination of wind, solar and solar + storage resources to meet the future needs of its 145,000 electric customers in southwestern Indiana.

"While we continue negotiating for active projects identified in our first ever All-Source RFP, conducted as part of our most recent Integrated Resource Plan, additional projects are required to fill the remaining need," said Steve Greenley, senior vice president, Generation Development. "We are excited to enter the next phase of our electric generation resource transition."

This RFP will assist in identifying replacement generation capacity beginning in 2023. SIGECO recently completed its 2019/2020 Integrated Resource Plan in which the company announced plans to retire 730 MW of coal-fired generation by 2024 and largely fill its ongoing energy need with renewable generation. Specifically, the company is seeking 700 to 1,000 MW of solar and solar + storage as well as 300 MW of wind resources.

SIGECO has retained 1898 & Co., a division of Burns & McDonnell Engineering Company, Inc., to act as its agent in managing the RFP process. All RFP inquiries and communications are to be made via email at VectrenRFP@1898andco.com. The RFP documents, schedule and other RFP information can be found at Vectren2020RFP.rfpmanager.biz/.

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, 2020, the company owned approximately $32 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 9,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

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 the projects to be included in the RFP as identified in the IRP, including expected capacity and timing, plans to retire coal-fired generation to transition to more renewable generation resources, 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; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarters ended March 31, 2020 and June 30, 2020 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

For more information contact
Natalie Hedde
Natalie.hedde@centerpointenergy.com
812.491.5105

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SOURCE CenterPoint Energy, Inc.

FAQ

What is the purpose of CenterPoint Energy's new RFP?

The RFP aims to identify wind, solar, and solar + storage resources to meet the energy needs of Southern Indiana Gas and Electric Co.'s 145,000 customers.

When is CenterPoint Energy planning to start implementing new generation capacity?

The new generation capacity is expected to begin in 2023.

How much coal-fired generation will CenterPoint Energy retire?

CenterPoint Energy plans to retire 730 MW of coal-fired generation by 2024.

What renewable resources is CenterPoint Energy seeking through the RFP?

CenterPoint Energy is seeking 700 to 1,000 MW of solar and solar + storage, as well as 300 MW of wind resources.

What company is managing the RFP process for CenterPoint Energy?

1898 & Co., a division of Burns & McDonnell Engineering Company, is managing the RFP process.