DTE Energy Services Sells Generating Unit to Indianapolis Power & Light Company
DETROIT, MICHIGAN - DTE Energy Services, Inc. (DTEES), an Ann Arbor, Mich.-based affiliate of DTE Energy, has agreed to sell an 80-megawatt combustion turbine generator to Indianapolis Power & Light Company (IPL).
The sale of the unit, known as Georgetown 4, will be completed upon approval by the Indiana Utility Regulatory Commission and the Federal Energy Regulatory Commission.
With the acquisition of Georgetown 4, IPL will own two of the four units that comprise the Georgetown facility located in Indianapolis. IPL has operated all four units since commercial operation began in 2000 and 2001. IPL also has agreed to purchase the power output from Georgetown 4 for the summer cooling months - May through September - to meet the needs of its customers before the sale of the unit is completed.
David Ruud, president, DTEES, said the sale of Georgetown 4 is in line with the parent company's strategy announced late last year to monetize some non-utility assets. "Many of these businesses have grown to sufficient size and scale that we are now well positioned to monetize some of our non-utility assets," he said. "This is the first step in realizing the value from our monetization efforts."
Related News
Judge: Texas Power Plants Exempt from Providing Electricity in Emergencies
AUSTIN - Nearly three years after the devastating Texas blackout of 2021, a panel of judges from the First Court of Appeals in Houston has determined that major power companies cannot be held accountable for their failure to deliver electricity during the crisis, citing Texas' deregulated energy market as the reason.
This ruling appears likely to shield these companies from lawsuits that were filed against them in the aftermath of the blackout, leaving the families of those affected uncertain about where to seek justice.
In February 2021, a severe cold front swept over Texas, bringing extended periods of ice and snow. The…
