NiSource unit signs $2.2 billion battery storage deal with Atlas Storage

NiSource subsidiary NiSource Generation entered a Battery Storage System Tolling Agreement with AGP Group subsidiary Atlas Storage 1 on October 15, 2026. Aggregate storage payments are expected at approximately $2.2 billion over 20.5 years, with the agreement accounted for as a finance lease obligation. The 600 MWAC / 2,400 MWh battery project's delivery term begins with first-phase commercial operation, expected by December 1, 2027. Effectiveness requires AGP Group to execute engineering, procurement and construction, plus satisfactory interconnection agreements, by January 31, 2027. GenCo receives dispatch rights, economic benefits and an exclusive, irrevocable option to purchase the project at specified intervals during and after delivery. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. NiSource Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retr