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RWE and Indiana Michigan Power Company Sign Long-term PPA for 200 MW Wind Project

LCG, December 18, 2025--RWE and Indiana Michigan Power Company (I&M), an American Electric Power (AEP) company, today announced their partnering to provide new wind power generation capacity online to meet Indiana’s growing electricity demand. The companies signed a 15-year power purchase agreement (PPA) for the total output from RWE’s 200 MW Prairie Creek wind project in Blackford County, Indiana. I&M will purchase electricity from the wind project, which will further diversify its portfolio and be consistent with its all-of-the-above strategy to secure generation for its rapidly growing electricity demand.

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NRC Renews Operating Licenses for Constellation's Nuclear Reactors at Clinton and Dresden Facilities

LCG, December 16, 2025--The Nuclear Regulatory Commission (NRC) announced today that it has renewed the operating licenses of Constellation LLC’s Clinton Unit 1 in Clinton, Illinois, and Dresden Units 2 and 3, near Morris, Illinois, for an additional 20 years beyond the current expiration dates. The combined capacity of these three, Illinois-based nuclear units is 2,925 MW, and the operating license extension will enable the units to generate carbon-free power through about 2050.

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Industry News

Credit Rating of Mirant Cut by Moody's

LCG, Oct. 11, 2002--Mirant's exposure to "weak power markets and a continuing lack of investor and counterparty confidence" were cited by rating service Moody's, which downgraded $6.6 billion worth of Mirant debt to a lower sub-investment grade, "Ba3", from a previously issued junk rating.

The merchant energy supplier has $2.7 billion of debt scheduled to expire in 2004. The rating agency found that the company may find it difficult to refinance the debt, although it currently "appears to have adequate liquidity" based on asset sales. Moody's also found that Mirant's cash flow will be reduced by its smaller generation portfolio, which could pose problems if its borrowing costs increase.

Much of the company's ability to shrink its debt load will depend on more asset sales.
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