MERRILLVILLE â Northern Indiana Public Service Company LLC (NIPSCO), a subsidiary of NiSource Inc. (NYSE: NI), announced recently plans to retire two coal-fired units representing half of its R.M. Schahfer Generating Station capacity in Wheatfield, by the end of 2021.
The retirements are part of NIPSCOâs broader, long-term electric generation strategy and customer-centric plan referred to as âYour Energy, Your Future.â The strategy outlines the companyâs plans to become 100% coal-free by 2028, while transitioning to reliable, lower-cost and more sustainable energy options. NIPSCO projects the transition will result in an estimated $4 billion in cost savings over the long term.
The Schahfer Generating Station coal-fired units 14 and 15, designated for retirement this year, are among the oldest in NIPSCOâs fleet, having been in service since 1976 and 1979 respectively.
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NiSource Reports 2020 Results
February 17, 2021 GMT
MERRILLVILLE, Ind., Feb. 17, 2021 /PRNewswire/ NiSource Inc. (NYSE: NI) today announced, on a GAAP basis, net income available to common shareholders for the three months ended December 31, 2020 of $70.7 million, or $0.18 per share, compared to a net loss available to common shareholders of $153.0 million, or $0.41 per share, for the same period of 2019. For the 12 months ended December 31, 2020, NiSource’s GAAP net loss available to common shareholders was $72.7 million, or $0.19 per share, compared to net income available to common shareholders of $328.0 million, or $0.88 per share, for the same period of 2019.
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Invenergy’s 1.3GW Samson Solar energy project in Texas. Image: Invenergy
An Indiana-based subsidiary of power distribution company AES Corporation has announced it will buy a 195MW solar power project in the state in as part of its energy transition program.
Indianapolis Power and Light Company (IPL) said this week that developer Invenergy will oversee the construction of the project in Clinton County. Construction is expected to start in Autumn 2021, however, it is yet to be approved by the Indiana Utility Regulatory Commission. It is expected to come online in 2023.
IPL chief executive Kristina Lund said the subsidiary’s investment in a utility-scale solar project “allows us to diversify our electric generation portfolio, while still reliably serving our customers.”