CenterPoint Energy invests in 300 MW solar project in Posey County

CenterPoint Energy (CNP) is seeking approval from the Indiana Utility Regulatory Commission (IURC) to enter into an agreement on the acquisition of a 300 megawatt (MW) solar array as part of the company's long-term electric generation transition plan announced in June 2020. The company is also requesting approval to enter into a power purchase agreement (PPA) for an additional 100 MWs of solar energy.

CenterPoint Energy is seeking to enter into an agreement with Capital Dynamics, the company that will build the 300 MW utility-owned project in Posey County, Ind. Arevon Energy Management and energy company Tenaska are co-developing the project. The addition of the 400 MW of solar through the Capital Dynamics and PPA agreements supports CenterPoint Energy's goal to reduce operational emissions by 70 percent by 2035, avoiding approximately 700,000 tons of CO2 each year after completion.

Following all required approvals, the solar array will be located on approximately 2,500 acres and will consist of more than 730,000 solar panels. The facility is expected to be fully operational in 2023, generating enough power to meet the needs of more than 50,000 households per year and helping large customers achieve their individual sustainability goals.

Construction on the second solar array will begin upon receipt of necessary authorization and permits, with a decision on CenterPoint Energy's request also expected in late 2021 or early 2022. Scheduled to be in service by 2023, CenterPoint Energy will contract 100 MW of the total 200-MW array, which will generate enough power to meet the needs of more than 18,500 homes per year.