NIPSCO’s Electric Generation Transition Continues With Completion of Third Solar Project
NIPSCO, a subsidiary of NiSource Inc. (NYSE: NI), has completed its third solar project, Cavalry Solar, in White County, Indiana. The facility, developed by NextEra Energy Resources, generates 200 megawatts of solar energy with an additional 45 megawatts of battery storage. This project is part of NIPSCO's electric generation transition plan, which aims to provide more cost-effective, cleaner energy for homes and businesses.
The Cavalry Solar project is expected to power approximately 60,000 homes and generate about $25 million in additional tax revenue for White County over its lifetime. NIPSCO's renewable projects, including solar and wind, have generated nearly $80 million in excess power sales and renewable energy credit sales since 2021, benefiting customers directly.
NIPSCO plans to be coal-free by 2028 and reduce carbon emissions by more than 90% by 2030, compared to 2005 levels. The company is currently in the process of updating its Integrated Resource Plan, which will outline its long-term electricity supply strategy for the next 20 years.
NIPSCO, una sussidiaria di NiSource Inc. (NYSE: NI), ha completato il suo terzo progetto solare, Cavalry Solar, nella Contea di White, Indiana. L'impianto, sviluppato da NextEra Energy Resources, genera 200 megawatt di energia solare con ulteriori 45 megawatt di stoccaggio con batterie. Questo progetto fa parte del piano di transizione per la generazione elettrica di NIPSCO, che mira a fornire energia più economica e pulita per abitazioni e aziende.
Si prevede che il progetto Cavalry Solar alimenti circa 60.000 abitazioni e generi circa 25 milioni di dollari in entrate fiscali aggiuntive per la Contea di White nel corso della sua vita utile. I progetti rinnovabili di NIPSCO, compresi quelli solari e eolici, hanno generato quasi 80 milioni di dollari in vendite di energia in eccesso e vendite di crediti energetici rinnovabili dal 2021, beneficiando direttamente i clienti.
NIPSCO prevede di essere libera dal carbone entro il 2028 e di ridurre le emissioni di carbonio di oltre 90% entro il 2030, rispetto ai livelli del 2005. L'azienda è attualmente in fase di aggiornamento del suo Piano Integrato delle Risorse, che delineerà la sua strategia di fornitura elettrica a lungo termine per i prossimi 20 anni.
NIPSCO, una subsidiaria de NiSource Inc. (NYSE: NI), ha completado su tercer proyecto solar, Cavalry Solar, en el Condado de White, Indiana. La instalación, desarrollada por NextEra Energy Resources, genera 200 megavatios de energía solar con una almacenamiento de batería adicional de 45 megavatios. Este proyecto es parte del plan de transición de generación eléctrica de NIPSCO, que busca proporcionar energía más económica y más limpia para hogares y negocios.
Se espera que el proyecto Cavalry Solar pueda alimentar aproximadamente 60,000 hogares y genere alrededor de 25 millones de dólares en ingresos fiscales adicionales para el Condado de White a lo largo de su vida útil. Los proyectos de energía renovable de NIPSCO, incluidos los solares y eólicos, han generado casi 80 millones de dólares en ventas de energía excedente y ventas de créditos de energía renovable desde 2021, beneficiando directamente a los clientes.
NIPSCO planea ser libre de carbón para 2028 y reducir las emisiones de carbono en más de un 90% para 2030, en comparación con los niveles de 2005. La empresa está actualmente en el proceso de actualizar su Plan Integrado de Recursos, que delineará su estrategia de suministro eléctrico a largo plazo para los próximos 20 años.
NIPSCO는 NiSource Inc. (NYSE: NI)의 자회사로, 인디애나주 화이트 카운티에 있는 세 번째 태양광 프로젝트인 Cavalry Solar를 완료했습니다. 이 시설은 NextEra Energy Resources가 개발하였으며, 200메가와트의 태양광 에너지와 추가 45메가와트의 배터리 저장소를 생성합니다. 이 프로젝트는 NIPSCO의 전력 생산 전환 계획의 일환으로, 주택과 사업체에 더 비용 효율적이고 깨끗한 에너지를 제공하는 것을 목표로 합니다.
Cavalry Solar 프로젝트는 약 60,000가구에 전력을 공급하고, 평생 동안 화이트 카운티에 약 2천5백만 달러의 추가 세수를 발생시킬 것으로 예상됩니다. NIPSCO의 재생 가능 프로젝트는 태양광과 풍력 포함, 2021년 이후로 8천만 달러에 가까운 잉여 전력 판매 및 재생 가능 에너지 크레딧 판매를 생성하여 고객에게 직접 혜택을 주고 있습니다.
NIPSCO는 2028년까지 석탄 없는 전력 생산을 계획하고 있으며, 2005년 대비 2030년까지 90% 이상 탄소 배출을 줄일 계획입니다. 이 회사는 현재 향후 20년간 전력 공급 전략을 설명할 통합 자원 계획 업데이트 작업을 진행 중입니다.
NIPSCO, une filiale de NiSource Inc. (NYSE: NI), a achevé son troisième projet solaire, Cavalry Solar, dans le comté de White, dans l'Indiana. L'installation, développée par NextEra Energy Resources, génère 200 mégawatts d'énergie solaire avec un stockage par batterie supplémentaire de 45 mégawatts. Ce projet fait partie du plan de transition de génération électrique de NIPSCO, qui vise à fournir une énergie plus rentable et plus propre pour les foyers et les entreprises.
Le projet Cavalry Solar devrait alimenter environ 60 000 foyers et générer environ 25 millions de dollars de recettes fiscales supplémentaires pour le comté de White au cours de sa durée de vie. Les projets renouvelables de NIPSCO, y compris le solaire et l'éolien, ont généré près de 80 millions de dollars en ventes d'électricité excédentaire et en ventes de crédits d'énergie renouvelable depuis 2021, profitant directement aux clients.
NIPSCO prévoit d'être sans charbon d'ici 2028 et de réduire ses émissions de carbone de plus de 90 % d'ici 2030, par rapport aux niveaux de 2005. L'entreprise est actuellement en train de mettre à jour son plan de ressources intégré, qui définira sa stratégie d'approvisionnement électrique à long terme pour les 20 prochaines années.
NIPSCO, eine Tochtergesellschaft von NiSource Inc. (NYSE: NI), hat sein drittes Solarprojekt, Cavalry Solar, im White County, Indiana, abgeschlossen. Die Anlage, entwickelt von NextEra Energy Resources, erzeugt 200 Megawatt Solarenergie sowie zusätzlich 45 Megawatt Batteriekapazität. Dieses Projekt ist Teil des Plans von NIPSCO für den Übergang zur elektrischen Energieerzeugung, der darauf abzielt, kostengünstigere, sauberere Energie für Haushalte und Unternehmen bereitzustellen.
Es wird erwartet, dass das Projekt Cavalry Solar etwa 60.000 Haushalte mit Strom versorgt und über seine Lebensdauer etwa 25 Millionen Dollar zusätzliche Steuereinnahmen für den White County generiert. Die erneuerbaren Projekte von NIPSCO, einschließlich Solar- und Windenergie, haben seit 2021 fast 80 Millionen Dollar aus dem Verkauf von überschüssiger Energie und aus dem Verkauf von erneuerbaren Energiedienstleistungen generiert, womit die Kunden direkt profitieren.
NIPSCO plant, bis 2028 kohlenstofffrei zu sein und die Kohlenstoffemissionen bis 2030 um mehr als 90% im Vergleich zu den Werten von 2005 zu reduzieren. Das Unternehmen befindet sich derzeit im Prozess der Aktualisierung seines integrierten Ressourcenplans, der die langfristige Strategie zur Stromversorgung für die nächsten 20 Jahre festlegen wird.
- Completion of Cavalry Solar project, generating 200 MW of solar energy and 45 MW of battery storage
- Expected to power approximately 60,000 homes
- Projected $25 million in additional tax revenue for White County over the project's lifetime
- Nearly $80 million generated from excess power sales and renewable energy credit sales since 2021
- Plan to be coal-free by 2028 and reduce carbon emissions by over 90% by 2030
- None.
Insights
NIPSCO's completion of the Cavalry Solar project marks a significant milestone in its transition to cleaner energy sources. The 200 MW solar facility with 45 MW of battery storage demonstrates a commitment to advanced technology and reliability. This project, along with others in their portfolio, is expected to help NIPSCO achieve its goal of being coal-free by 2028 and reduce carbon emissions by
The inclusion of battery storage is particularly noteworthy, as it addresses the intermittency issues often associated with renewable energy sources. This approach enhances grid stability and reliability, which is important for maintaining consumer confidence in renewable energy transitions. The project's ability to power approximately 60,000 homes showcases its substantial scale and impact on the local energy landscape.
Furthermore, the
The completion of the Cavalry Solar project, along with other renewable energy initiatives, positions NiSource (NYSE: NI) favorably in the evolving utility sector. The company's strategy to diversify its energy portfolio and reduce reliance on coal aligns with broader industry trends and regulatory pressures, potentially mitigating future risks associated with fossil fuel assets.
Notably, NIPSCO's disclosure that
Investors should note that while these projects require significant upfront capital, they often result in lower operational costs and more predictable long-term returns. The company's balanced approach, including both owned assets and power purchase agreements (PPAs), provides flexibility in capital allocation and risk management. However, the impact on short-term financial metrics should be monitored closely as the transition progresses.
NIPSCO's renewable energy transition aligns with broader national and global environmental goals. The company's plan to be coal-free by 2028 and reduce carbon emissions by
The diverse portfolio of solar, wind and battery storage projects demonstrates a comprehensive strategy to address various aspects of clean energy generation and grid stability. The inclusion of battery storage, in particular, shows foresight in addressing the challenges of integrating intermittent renewable sources into the grid.
However, it's important to note that the company's statement about selling Renewable Energy Credits (RECs) to third parties to keep energy more affordable for customers warrants scrutiny. While this may provide short-term cost benefits, it could potentially limit the company's ability to claim the full environmental benefits of its renewable projects. Stakeholders should monitor how this approach aligns with the company's long-term sustainability goals and regulatory requirements.
NIPSCO’s latest solar facility is expected to generate 200 megawatts of solar energy with an additional 45 megawatts of battery storage technology
“The completion of Cavalry Solar, the third solar project in NIPSCO’s generating mix, is a crucial step in advancing our energy generation transition plan to provide sustainable, cost-effective and reliable energy now and into the future,” said Vince Parisi, NIPSCO President and Chief Operating Officer. “The inclusion of battery energy storage is an example of the advancing technology we’re incorporating into our energy transition to best meet the needs of our customers.”
Cavalry Energy Center, LLC, a subsidiary of NextEra Energy Resources, LLC, developed and constructed the 200-megawatt (MW) solar facility with an additional 45 MW of battery energy storage capability located in
“We are pleased to work with NIPSCO on this solar project, and we look forward to continue working with them to bring additional renewable energy projects to the Hoosier state in the coming years,” said Anthony Pedroni, vice president of renewables and storage development at NextEra Energy Resources, the world’s largest generator of renewable energy from the wind and the sun, and a world leader in battery energy storage.
The facility will produce enough energy to power approximately 60,000 homes, and it is expected to generate approximately
Cavalry Solar joins two additional solar projects in NIPSCO’s electric generating portfolio – Indiana Crossroads Solar also located in
These solar projects, combined with NIPSCO’s in-service wind projects, are performing well, and 100 percent of the excess power sales and renewable energy credit (REC) sales from these existing renewable projects and our existing generation fleet currently goes back to customers, which is nearly
Renewable Project Profile List
The following lists represents projects that are currently operational or under construction. Projects that are power purchase agreements are noted with “(PPA).”
Completed Projects:
-
Rosewater Wind Farm – 100 MW of wind, located in
White County, Indiana -
Jordan Creek Wind (PPA) – 400 MW of wind, located in
Benton andWarren counties,Indiana -
Indiana Crossroads I Wind – 300 MW of wind, located in
White County, Indiana -
Dunns Bridge Solar I – 265 MW of solar, located in
Jasper County, Indiana -
Indiana Crossroads Solar – 200 MW of solar, located in
White County, Indiana -
Indiana Crossroads II Wind (PPA) – 204 MW of wind, located in
White County, Indiana -
Cavalry Energy Center – 200 MW of solar and 45 MW of battery storage, located in
White County, Indiana
Upcoming Projects:
-
Dunns Bridge Solar II – 435 MW of solar and 56.25 MW of battery storage, located in
Jasper andStarke counties,Indiana -
Green River Solar (PPA) – 200 MW of solar, located in
Breckinridge andMeade counties,Kentucky -
Gibson Solar – 200 MW of solar, located in
Gibson County, Indiana -
Fairbanks Solar – 250 MW of solar, located in
Sullivan County, Indiana -
Templeton Wind (PPA) – 200 MW of wind, located in
Benton County, Indiana -
Carpenter Wind (PPA) – 200 MW of wind, located in
Jasper County, Indiana -
Appleseed Solar (PPA) – 200 MW of solar, located in
Cass County, Indiana
These projects were selected through a request for proposals process as part of our Integrated Resource Plans (IRP) in 2018 and 2021, which informed NIPSCO’s overall electric generation transition plan that includes a more balanced and reliable generating portfolio* where the company plans to be coal-free by 2028, driving a reduction in carbon emissions by more than
The IRP is a regulatory process that includes an extensive analysis of a range of resource options against objectives for future electric generation portfolios to be reliable, cost-effective, sustainable, diverse and flexible. The IRP process is a requirement of all electric utilities in
*NIPSCO may sell in the future and has previously sold the Renewable Energy Credits from this generation to a third party because this helps keep our energy more affordable for our customers.
About NIPSCO:
Northern Indiana Public Service Company LLC (NIPSCO), with headquarters in
About NiSource:
NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in
Forward-Looking Statements
This Press Release contains "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). 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. Forward-looking statements in this press release include, but are not limited to, statements concerning plans, strategies, objectives, expected performance, electric generation transition, expenditures, recovery of expenditures through rates, generation of tax revenue, and any and all underlying assumptions and other statements that are other than statements of historical fact. Expressions of future goals and expectations and similar expressions, including "may," "will," "should," "could," "would," "aims," "seeks," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "targets," "forecast," and "continue," reflecting something other than historical fact are intended to identify forward-looking statements. 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 and expectations discussed in this Press Release include, among other things: our ability to execute our business plan or growth strategy, including utility infrastructure investments; potential incidents and other operating risks associated with our business; our ability to work successfully with our third-party investors; our ability to adapt to, and manage costs related to, advances in technology, including alternative energy sources and changes in laws and regulations; our increased dependency on technology; impacts related to our aging infrastructure; our ability to obtain sufficient insurance coverage and whether such coverage will protect us against significant losses; the success of our electric generation strategy; construction risks and supply risks; fluctuations in demand from residential and commercial customers; fluctuations in 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 demand; our ability to attract, retain or re-skill a qualified, diverse workforce and maintain good labor relations; our ability to manage new initiatives and organizational changes; the actions of activist stockholders; the performance and quality of third-party suppliers and service providers; potential cybersecurity attacks or security breaches; increased requirements and costs related to cybersecurity; any damage to our reputation; the impacts of natural disasters, potential terrorist attacks or other catastrophic events; the physical impacts of climate change and the transition to a lower carbon future; our ability to manage the financial and operational risks related to achieving our carbon emission reduction goals, including our Net Zero Goal; our debt obligations; any changes to our credit rating or the credit rating of certain of our subsidiaries; adverse economic and capital market conditions, including increases in inflation or interest rates, recession, or changes in investor sentiment; economic regulation and the impact of regulatory rate reviews; our ability to obtain expected financial or regulatory outcomes; economic conditions in certain industries; the reliability of customers and suppliers to fulfill their payment and contractual obligations; the ability of our subsidiaries to generate cash; pension funding obligations; potential impairments of goodwill; the outcome of legal and regulatory proceedings, investigations, incidents, claims and litigation; compliance with changes in, or new interpretations of applicable laws, regulations and tariffs; the cost of compliance with environmental laws and regulations and the costs of associated liabilities; changes in tax laws or the interpretation thereof; and other matters set forth in Item 1, "Business," Item 1A, "Risk Factors" and Part II, Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations," of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024, some of which risks are beyond our control. In addition, the relative contributions to profitability by each business segment, and the assumptions underlying the forward-looking statements relating thereto, may change over time.
All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events or changes to the future results over time or otherwise, except as required by law.
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Tara McElmurry
Communications Manager
(219) 616-9113
Source: NiSource Inc.
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