Wabash Valley Power, Ranger Power boost Illinois solar energy in 99MW landmark deal

DU QUOIN, Ill.–(BUSINESS WIRE)–Wabash Valley Power’s member co-ops will benefit from a recently
completed long-term agreement to purchase the energy and capacity
generated by what will be the largest solar array ever built in the
state of Illinois.

Wabash Valley Power will be the sole buyer of the energy produced from
the Prairie State Solar Project, a 99 megawatt (MW) array to be built on
privately owned land in Perry County, Illinois. New York-based Ranger
Power, a utility-scale solar development company, will build the array,
which will produce enough electricity to power nearly 15,000 homes.
Groundbreaking is scheduled to occur in late 2019 with commercial
operations beginning in 2021. Wabash Valley Power entered into a 30-year
agreement to purchase the power produced by the array, while the
renewable energy credits (RECs) associated with the project will be sold
through the Illinois Power Agency REC procurement process.

The Prairie State Solar Project will more than double the statewide
solar capacity in Illinois. The Solar
Energy Industries Association reports that installed solar projects
statewide collectively total 81.5 MW.

“Declining prices of utility-scale solar, coupled with the state
government’s commitment to creating in-state energy jobs, enabled us to
provide the most cost-competitive solar power purchase agreement in
Illinois history,” said Adam Cohen, CEO of Ranger Power. “This new
project will help reduce peak demand, while the additional economic and
environmental benefits will impact many more Illinois residents and
businesses. We are eager for the future and our partnership with Wabash
Valley Power.”

Wabash Valley Power, located in Indianapolis, supplies electricity to 23
not-for-profit electric distribution cooperatives located throughout
Illinois, Missouri and Indiana. Collectively, these cooperatives serve
more than 311,000 homes, farms, schools and businesses. Wabash Valley
electric distribution cooperative members include three Illinois
cooperatives: Corn Belt Energy, MJM Electric Cooperative and EnerStar
Electric Cooperative.

“As a cooperative, we strive to enter into agreements that have a
positive impact for everyone involved, particularly in the communities
that we serve,” said Jay Bartlett, CEO of Wabash Valley Power. “Our
agreement with Ranger Power is a landmark, large-scale solar project
demonstrating the future of renewable energy growth.”

Ranger Power has been engaged with state and county officials throughout
the development of the project. "We're excited to be one step closer to
moving forward with this meaningful investment in our county which will
support new jobs and new revenues for our community to invest in
schools, roads, and bridges," said State Rep. Terri Bryant
(R-Murphysboro).

The new array will represent a nearly $100 million new investment in
southwestern Illinois that also will contribute millions in tax revenue
without requiring additional public infrastructure or services. The
Prairie State Solar Project supports the objectives of the Future Energy
Jobs Act, an Illinois law that went into effect last year requiring at
least 4,300 MW of new solar and wind energy to be built in the state by
2030. The new solar project also supports the law’s job creation
initiative by creating an estimated 200 jobs during the construction
phase and 3 to 5 full-time positions once the site is operational.

About Ranger Power

Ranger Power is a utility-scale solar development company focused on
bringing cost-effective clean renewable energy projects and jobs to the
Midwest region. The company is committed to working closely with
landowners and communities to bring new investment, jobs, and clean
energy to the area. Ranger Power’s team of experienced developers and
renewable energy specialists have successfully developed early-, mid-,
and late-stage solar projects throughout the country. Collectively, the
Ranger Power team has worked on over 3,500 MW of renewable energy
projects.

About Wabash Valley Power

Wabash Valley Power is a not-for-profit electric generation and
transmission (G&T) cooperative based in Indianapolis. The G&T provides
wholesale electricity to 23 retail electric distribution cooperatives in
Indiana, Illinois, and Missouri. Collectively, these cooperatives supply
electricity to more than 311,000 homes, farms, schools and businesses.

*Wabash Valley Power supports renewable energy by owning landfill gas
generation and purchasing the output of wind and solar farms and biogas
generators. Wabash Valley Power sells, separately, the environmental
attributes associated with this generation to its members and third
parties, and therefore does not claim the generation as renewable within
our own supply portfolio. Visit www.wvpa.com for
more information.

Contacts

Ranger Power:
Rosanne Koneval
908.797.6702
[email protected]
or
Wabash
Valley Power:
Lisa Richardson
317.481.2831
[email protected]