Gains on renewable power generation agreement
01/06/2021 12:32
** Shares of coal producer HNRG.O up as much as 1.2% at
$2.45 premarket
** Co to jointly develop up to 1000 MW of renewable power
with utility firm Hoosier Energy Rural Electric Cooperative Inc
** The new generation will be located near the Merom Coal
Generation Station in Sullivan, which co expects to retire in
May 2023
** Co will develop about 200 MW of energy from solar and
battery storage through power purchase agreements with Hoosier
Energy in 2025
** Up to last close, stock up 64% this year
(Reporting by Rithika Krishna in Bengaluru)
((Rithika.Krishna@thomsonreuters.com;))