Eversheds Sutherland Advises Hoosier Energy Rural Electric Cooperative, Inc. on Joint Purchase of St. Joseph Energy Center

As the demand for electricity continues to rise, Hoosier Energy and WVPA – as Indiana’s two not-for-profit electric generation and transmission (G&T) cooperatives – remain focused on providing reliable, affordable energy to their members and the rural and suburban communities they serve.

WVPA and Hoosier Energy will each take a 50% stake in the facility and share operation and maintenance responsibilities.

“St. Joseph Energy Center is an ideal fit for Hoosier Energy’s Long Range Resource Plan, which prioritizes reliability and resource adequacy, affordability, sustainability and resource diversity,” said Donna Walker, president and CEO of Hoosier Energy. “The plant has a history of high-level operational performance and will be a dependable asset for our members.”

The 720-megawatt (MW) plant sits on a 165-acre campus and began generating power in 2018. The state-of-the-art facility is equipped with two Siemens gas turbines, a steam turbine and three air-cooled generators. The exhaust heat from the gas turbines is used to power the steam turbine which greatly improves the plant’s overall thermal efficiency.

Read Hoosier Energy’s full press release here.

Eversheds Sutherland’s deal team was led by Energy Partners Tom Warren and Prem Malali with support from Energy Senior Associates Katie Clarke and Natalia Cosío, Energy Associates Alexandra Franklin and Jeremy Andreades and Finance Associate Justin Stephens. Energy Partner Dan Frank, Real Estate Counsel Brooke Parris and Tax Counsel Frank Comparetto III also assisted on the matter.