The $95 million project received regulatory approval in March 2019. CenterPoint Energy partnered with Burns & McDonnell on the engineering and construction of the project. One of the largest single-site solar arrays in Indiana, the project is located near Troy, Ind., on approximately 300 acres and consists of about 150,000 solar panels. Each panel is mounted on a single-axis tracking system, enabling the panels to automatically rotate to follow the sun and maximize energy generation.
"This 50 MW project - combined with our existing 4MW of solar and future plans for additional renewables - continues to demonstrate our commitment to developing a more balanced energy mix in how we generate electricity," said Steve Greenley, Senior Vice President of Generation Development. "We appreciate the collaboration with Burns & McDonnell design and construction teams to bring this project to fruition."
The Troy solar array, in addition to the two previously built 2-MW universal solar projects, now generate enough power to meet the needs of more than 12,000 households per year. When including Vectren's 80 MW of wind power purchased through contracts with Benton County wind farms and its 3.2-MW landfill gas facility in Pike County, that amounts to enough renewable energy in CenterPoint Energy's electric generation portfolio to power more than 35,000 homes, or nearly 25 percent of the company's residential electric customers in Indiana. The project further supports CenterPoint Energy's carbon reduction plan of lowering carbon emissions by 70% over 2005 levels by 2035.
The Troy solar project is part of CenterPoint Energy's Smart Energy Future strategy, which includes electric generation fleet diversification by adding natural gas and renewables, grid modernization projects and smart energy management tools for customers. For more information, visit www.CenterPointEnergy.com/SmartEnergyFuture.
CenterPoint Energy delivers electricity to approximately 145,000 customers in southwest Indiana in all or portions of Gibson, Dubois, Pike, Posey, Spencer, Vanderburgh and Warrick counties. Programs and services are operated under the brand CenterPoint Energy by Southern Indiana Gas and Electric Company d/b/a CenterPoint Energy Indiana South.
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 "continue," "could," "estimate, "plan," "potential," "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 those relating to electric generation transition plans, the generation performance and impact of the Troy solar array on customers and level of renewable energy generated, and carbon reduction plans and strategies, 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) financial market conditions; (2) general economic conditions; (3) the timing and impact of future regulatory and legislative decisions; (4) effects of competition; (5) weather variations; (6) changes in business plans; and (7) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.
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 March 31, 2021, the company owned approximately $36 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 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.
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1111 Louisiana St
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