Clēnera and Hoosier Energy Announce Power Purchase Agreement
New solar project to provide 120 MWDC of clean energy to Southwestern Indiana
Boise, ID – Hoosier Energy and Clēnera are pleased to announce a Power Purchase Agreement (PPA) between Hoosier Energy and Clēnera’s affiliate, Rustic Hills Solar LLC. The Rustic Hills Solar PPA has a 20-year contract term and is Hoosier Energy’s first PPA with Clēnera, a developer of large-scale solar and storage projects, and a subsidiary of Enlight Renewable Energy LTD (TASE: ENLT).
Hoosier Energy, a not-for-profit generation and transmission cooperative, provides electric power and services to 18 not-for-profit electric distribution cooperative owners throughout central and southern Indiana and southeastern Illinois. The 18 cooperative members serve more than 760,000 consumers.
“This collaboration continues our transition of Hoosier Energy’s resource portfolio to a much higher percentage of renewable sources,” said President and CEO Donna Walker. “The solar energy developed at Rustic Hills will serve thousands of Hoosiers while continuing to reduce our carbon footprint, benefiting the environment, Hoosier Energy members and all of their member-consumers.”
In 2020, Hoosier Energy announced it plans to retire its only remaining coal-powered generating station by May 2023. The decision will save its member co-ops more than $700 million over the next decade while also shifting Hoosier Energy’s portfolio toward renewable energy generation.
Rustic Hills Solar will occupy approximately 640 acres of private land in Warrick County, Indiana, with construction expected to begin upon receipt of necessary authorization and permits. It is estimated that the project will be commercially operational by the end of 2023. During the proposed 10-month construction timeline, approximately 300 construction jobs will be created.
The Rustic Hills Solar facility is anticipated to deliver 120 MWDC of reliable, affordable, and clean energy to Hoosier Energy’s members, generating enough power to meet the needs of more than 17,000 homes.
“We thank Hoosier Energy for partnering with Clēnera to procure clean energy from Rustic Hills Solar,” said Jared McKee, Vice President of Business Development at Clēnera. “We look forward to the successful completion of this solar project and promoting sustainable environmental and economic stewardship with our partner Hoosier Energy in the state of Indiana.”
This announcement comes on the heels of the U.S. Energy Department’s proposed plan for solar energy to provide 45 percent of the United States’ electricity by 2050.
Clenera, LLC (“Clēnera”), a subsidiary of Enlight Renewable Energy, LTD (TLV: ENLT), acquires, develops, builds and manages utility-scale solar farms and energy storage facilities throughout the United States. Combining breakthrough technology with a deeply integrated team approach, Clēnera provides reliable, affordable energy systems and helps its utility partners become clean energy leaders in their communities. Clēnera has developed and constructed over 1.6 GWDC of solar projects and provides long-term management of those projects on behalf of third-party owners. The company is actively developing 50 large-scale solar projects in various stages of development with a capacity of 12 GWDC, including 5.5 GWh of energy storage projects. Learn more at www.clenera.com.
About Enlight Renewable Energy
Traded on the Tel Aviv stock exchange (TASE: ENLT), Enlight is a leading renewable energy company which focuses on initiation, development, financing, construction, and operation of renewable energy generation projects. The company operates in Israel, Europe and the United States, with a diversified portfolio of operating projects and projects under construction and pre-construction, with a total generation capacity of 2.2 GWDC and total energy storage capacity of 0.5 GWh. In addition, the company owns an additional 14.8 GWDC of generation capacity and 6.9 GWh of energy storage in various stages of development. For more information, visit https://enlightenergy.co.il.
About Hoosier Energy
Founded in 1949, Hoosier Energy is a generation and transmission cooperative (G&T) with headquarters in Bloomington, Indiana. The G&T provides electric power and services to 18 member distribution cooperatives in central and southern Indiana and southeastern Illinois. We are a community-focused organization that works to efficiently deliver affordable, reliable and safe energy. Collectively, our 18 members serve more than 760,000 consumers. Hoosier Energy is an equal opportunity provider and employer. For more information, visit www.hoosierenergy.com.
Forward Looking Statements
The information detailed in this press release is in connection with anticipated project construction and completion, construction timelines, commercial operation dates, energy output, and possible development of future projects as detailed above is “forward-looking” as defined in Section 32A of the Israel Securities Law, 5728-1968, and is only an assessment based on the information, estimates, forecasts and data available to Clēnera’s management at the time of the press release, and current management assessments. This information is conditional and subject to the existence of various factors, including the data of the project under development and the general risk factors that characterize the Company’s activities. Accordingly, the aforementioned information may not come to realization or actual results may differ from the information described above.