PR Newswire
ST. LOUIS, July 25, 2019
ST. LOUIS, July 25, 2019 /PRNewswire/ -- Today, Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), announced that it has mutually agreed with EDF Renewables, Inc. to terminate the development of an up-to 157 megawatt (MW) wind facility in Atchison County, Missouri.
"Significant upgrades would have been required on the transmission system to accommodate this project, leading to unacceptably high costs. While we're focused on incorporating more renewable energy, we also have to be good financial stewards for our customers, who trust us to provide safe, reliable energy while keeping rates stable and predictable," said Michael Moehn, chairman and president of Ameren Missouri. "While it is disappointing we will not be moving forward with this project, we remain focused on seeing our other, larger projects through to the finish line."
Ameren Missouri remains strongly committed to meeting its goal of owning at least 700 MW of new wind generation by the end of 2020 with two Missouri-based projects under agreement to build:
Together, these wind facilities represent an investment of approximately $1.2 billion.
Moehn said Ameren Missouri is pleased to have received the third and final phase of the expected regional transmission organization interconnection costs for both projects, which were in-line with expectations. Final interconnection agreements are expected this Fall.
Local communities in Adair, Schuyler and Atchison counties will also benefit through recently signed legislation that is designed to keep millions of dollars in property taxes associated with the planned facilities in the local communities.
In addition to the expansion of wind generation, Ameren Missouri plans to add 50 MW of solar generation by 2025, with a total increase of 100 MW of solar generation by 2027. The company also plans to reduce carbon dioxide emissions 35% by 2030, 50% by 2040 and 80% by 2050, based on 2005 levels. Ameren Missouri also plans to retire more than half of its coal-fired generation capacity in the next 20 years, beginning with the Meramec Energy Center in 2022.
Ameren Missouri has been providing electric and gas service for more than 100 years, and the company's electric rates are among the lowest in the nation. Ameren Missouri's mission is to power the quality of life for its 1.2 million electric and 127,000 natural gas customers in central and eastern Missouri. The company's service area covers 64 counties and more than 500 communities, including the greater St. Louis area. For more information, visit Ameren.com/Missouri or follow us on Twitter at @AmerenMissouri or Facebook.com/AmerenMissouri.
Forward-Looking Statements
Statements in this release not based on historical facts are considered "forward-looking" and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. These statements include (without limitation) statements as to future expectations, beliefs, plans, strategies, objectives, events, conditions, and financial performance. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we are providing this cautionary statement to identify important factors that could cause actual results to differ materially from those anticipated. The following factors, in addition to those discussed under Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2018, and elsewhere in this release and in our other filings with the Securities and Exchange Commission, could cause actual results to differ materially from management expectations suggested in such forward-looking statements:
New factors emerge from time to time, and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement. Given these uncertainties, undue reliance should not be placed on these forward-looking statements. Except to the extent required by the federal securities laws, we undertake no obligation to update or revise publicly any forward-looking statements to reflect new information or future events.
View original content:http://www.prnewswire.com/news-releases/ameren-missouri-confident-in-growing-renewable-generation-with-700-mw-of-new-wind-energy-in-2020-300891425.html
SOURCE Ameren Missouri
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