Merrillville-based NiSource Inc. (NYSE: NI) is reporting third quarter net income of $49.4 million, compared to a net loss of $186.7 million during the same period a year ago. The company says it expects to make capital investments totaling approximately $10 billion over the next three years.
NiSource says approximately $2 billion will go towards renewable energy generation as it retires coal-fired plants.
“Strong execution of NiSource’s significant renewable energy investments continues to be the highlight of our foundation for future growth,” said NiSource President and CEO Joe Hamrock
The company says it retired Units 14 and 15, both coal-burning, at the Schahfer Generating Station in Wheatfield at the beginning of October.
The company is also planning to shut down the coal burning facility at the Michigan City Generating Station. NiSource says it will need to invest $750 million in green technology to replace the generating power capacity from retired plants.
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