Form 8-K · Current report
NiSource 8-K, filed Oct 16, 2026
- Filed
- CIK
- 0001111711
- Accession no.
- 0001193125-26-423375
Summary
NiSource subsidiary NiSource Generation Company LLC signed a Battery Storage System Tolling Agreement on October 15, 2026 with Atlas Storage 1 LLC, an indirect subsidiary of AGP Capital Holdings Pte. Ltd., under which AGP will build, own, and operate a 600 MWAC / 2,400 MWh standalone battery energy storage system interconnected to MISO's transmission system. GenCo will supply the power to charge the project, direct its dispatch, and receive its capacity, energy, and ancillary services output, paying roughly $2.2 billion in aggregate storage payments over an expected delivery term of about 20.5 years starting at the first phase's commercial operation, expected by December 1, 2027.
Key points
- The agreement takes effect only if AGP Group executes an engineering, procurement, and construction contract and a satisfactory interconnection agreement by January 31, 2027.
- GenCo holds an exclusive, irrevocable option to purchase the project at specified intervals during and at the end of the delivery term.
- The arrangement is expected to be accounted for as a finance lease obligation under FASB ASC Topic 842.
- Storage payments are based on a fixed rate subject to adjustments and the project's actual power capacity.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
- 9.01Financial Statements and Exhibits
From the filing
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant On October 15, 2026, NiSource Generation Company LLC (“GenCo”), a subsidiary of NiSource Inc. (the “Company”), entered into a Battery Storage System Tolling Agreement (the “Tolling Agreement”) with Atlas Storage 1 LLC, an indirect subsidiary of AGP Capital Holdings Pte. Ltd. (“AGP Group”), pursuant to which AGP Group will develop, construct, own, and operate a 600 MWAC / 2,400 MWh stand-alone battery energy storage system (the “Project”) interconnected to the electric transmission system operated by the Midcontinent Independent System Operator, Inc. (“MISO”). …
An excerpt of the text as filed with the SEC, cut for length.
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