Ameren Missouri doubles renewable energy program

Rhea-AI Summary

Ameren Missouri, a subsidiary of Ameren (NYSE: AEE), has received approval from the Missouri Public Service Commission to acquire a 150-megawatt (MW) solar facility in Cass County, Illinois. This facility aims to double the size of Ameren's Renewable Solutions program. Notable organizations, including Walmart and Mastercard, have joined or increased their participation in the program to enhance their use of renewable energy and support regional development. The facility is expected to begin generating energy by the end of the year, pending customary closing conditions. Additionally, a 150-MW Boomtown Renewable Energy Center in White County, Illinois, will also support this initiative and is set to be operational by year-end.

Positive

• Ameren Missouri received regulatory approval to acquire a 150-MW solar facility, enhancing its renewable energy portfolio.
• The initiative will double the size of the Renewable Solutions program, indicating strong demand.
• High-profile organizations like Walmart and Mastercard have committed to the program, showcasing broad support.
• The Cass County facility is expected to start generating energy by the end of this year, potentially boosting energy supply soon.
• A second 150-MW facility in White County, Illinois, is also anticipated to support the program and be operational by year-end, further increasing capacity.

Negative

• The acquisition is still subject to customary closing conditions, which introduces some uncertainty.
• No specific financial details or costs associated with the acquisition were disclosed, leaving investors in the dark about potential expenses.
• The press release does not provide information on the potential impact on Ameren's financial performance or stock value.

Organizations across Missouri partner with the company to support development in our region  

ST. LOUIS, June 12, 2024 /PRNewswire/ -- Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), received approval today from the Missouri Public Service Commission to acquire a 150-megawatt (MW) solar facility that is currently under construction in Cass County, Illinois. The Cass County Renewable Energy Center will be used to double the size of the Renewable Solutions program.

"Demand remains very strong for programs that bring businesses ready-made solutions to help them reach their sustainability goals," said Mark Birk, chairman and president of Ameren Missouri. "Working collaboratively with participating organizations, we're able to innovate, support continued investment in the region, and help all our Missouri customers."

Organizations from across Missouri signed up to take part in the program's expansion, increasing their use of renewable energy and supporting its development in our region. As part of the program, participating organizations will also receive renewable energy credits.

The following are some of the organizations that have recently joined or increased their participation level in the Renewable Solutions program:

• Air Products
• bioMérieux
• Donald Danforth Plant Science Center
• Mastercard
• SSM Health
• Walmart
• World Wide Technology

The Cass County facility is one portion of Ameren Missouri's strategy to supply affordable and reliable energy. The acquisition is subject to customary closing conditions and is anticipated to begin generating energy by the end of this year. The 150-MW Boomtown Renewable Energy Center under construction in White County, Illinois, will also support the Renewable Solutions program. It is scheduled to be in service by the end of this year as well.

About Ameren Missouri
Ameren Missouri has been providing electric and gas service for more than 100 years. Ameren Missouri's mission is to power the quality of life for its 1.2 million electric and 135,000 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 at @AmerenMissouri or Facebook.com/AmerenMissouri.

View original content:https://www.prnewswire.com/news-releases/ameren-missouri-doubles-renewable-energy-program-302171212.html

SOURCE Ameren Missouri

FAQ

What is the significance of Ameren Missouri's latest acquisition?

Ameren Missouri's acquisition of a 150-MW solar facility aims to double the size of its Renewable Solutions program.

Which organizations have joined Ameren Missouri's Renewable Solutions program?

Notable organizations include Walmart, Mastercard, Air Products, bioMérieux, and SSM Health.

When will the Cass County Renewable Energy Center begin generating energy?

The facility is expected to start generating energy by the end of this year, pending customary closing conditions.

What other facilities are set to support Ameren's Renewable Solutions program?

The Boomtown Renewable Energy Center in White County, Illinois, is also scheduled to be operational by the end of the year.

What is the stock symbol for Ameren ?

The stock symbol for Ameren is AEE.