May 19, 2016
PEABODY ENERGY TRANSFERS SHARES OF PRAIRIE STATE ENERGY CAMPUS TO WABASH VALLEY POWER ASSOCIATION
On May 19, 2016, Peabody Energy sold its 5.06 percent share of the Prairie State Energy Campus to the Wabash Valley Power Association (WVPA), a not-for-profit generation and transmission cooperative headquartered in Indianapolis, Indiana. Peabody Energy’s transfer of shares to WVPA brings the campus fully under public power and rural electric cooperative ownership.
“WVPA’s new investment in the campus further unifies the not-for-profit business model in place at Prairie State and we are pleased to welcome another public power agency with a similar vision to our ownership group,” said Kevin Gaden, Prairie State’s Chairman and CEO of the Illinois Municipal Electric Agency. “On behalf of Prairie State’s Management Committee, let me say we look forward to a long and mutually beneficial partnership with our new cooperative colleagues.”
As Prairie State’s newest Owner, WVPA provides wholesale electricity to 23 electric distribution cooperatives and their nearly 330,000 members located throughout northern Indiana, parts of Illinois and Missouri. Prairie State’s state-of-the-art, supercritical power plant joins WVPA’s balanced energy supply portfolio of landfill gas generation, natural gas generation and wind power.
“The members and cooperatives of WVPA are excited to be a part of the Prairie State Energy Campus,” said Jay Bartlett, President and CEO of WVPA. “We look forward to a long and successful relationship with the other Prairie State owners.” Throughout this ownership transition, Prairie State will continue its normal operations and commitment to focus on providing stable power for its Owners and their municipal and cooperative members, produced in a safe and environmentally responsible manner.
Located in Washington County, Illinois, the Prairie State Energy Campus is a technologically-advanced electric generation facility utilizing domestic Illinois coal resources from its adjacent underground mine to power its 1,600 megawatt power plant. Since 2012, Prairie State has been providing baseload electricity on behalf of its Owners to more than 2.5 million families across the Midwest.