CMS Energy (CMS) Subsidiary's Renewable Project Comes Online
Zacks Investment Research | Jan 04, 2018 09:42PM ET
CMS Energy Corporation’s (NYSE:CMS) subsidiary Consumers Energy announced that Cross Winds Energy Park II in Tuscola County's Columbia Township has officially begun operations. The energy park is currently contributing 44 megawatts (MW) renewable energy and serving nearly 17,000 residentsin Michigan.
Consumers Energy invested $90 million in the Phase II of Cross Winds Energy Park to construct 19 turbines, each of which is 499 feet tall. The phase I of Cross Winds project began its operations in 2014, and is capable of producing 155 MW of renewable energy, sufficient to serve about 60,000 residents.
Will this Benefit CMS Energy?
The Phase II of the project will help the company achieve its aim of contributing $5 billion toward the state economy over a span of five years. The Cross Winds Energy Park Phase II projectis part of total $345 million investment comprising of 81 wind turbines. Notably, the aforementioned project is certainly going to help Consumers Energy's to fulfill its commitment to serve the growing needs of large businesses, that aim to go 100% renewable.
Besides capitalizing on the potential of the expanding renewable energy market, CMS Energy has been broadening renewable portfolio. In September 2017, the company submitted proposals at the Michigan Public Service Commission for amending its renewable energy plan, requesting approval for acquiring up to 525 MW of additional wind projects and 100 MW of solar generation projects. Notably, Phase II of the aforementioned renewable project is anticipated to further lower carbon footprint.
Going Ahead
The company plans to bring online Phase III of the Cross Winds Energy Park in 2020, which will add another 76MW of clean energy in its production. The company currently boasts of a strong capital expenditure plan for providing reliable services, and infrastructural upgrades. Notably, it aims to invest nearly $18 billion during 2017-2026.
Going ahead, Consumers Energy’ plans to spend $1.0 billion over the next five years toward electric supply projects, renewable generation, as well as environmental investments.
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