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ENTERGY CORPORATION

(ETR)
  Report
Delayed Nyse  -  04:00:02 2023-03-24 pm EDT
103.69 USD   +3.33%
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Entergy : seeking to boost economic development in Louisiana through renewable power expansion

03/16/2023 | 10:55am EDT

News Center > Entergy seeking to boost economic development in Louisiana through renewable power expansion

For Immediate Release
Entergy seeking to boost economic development in Louisiana through renewable power expansion

03/16/2023

Contact
Brandon Scardigli|504-576-4132|bscardi@entergy.com

Louisiana has the potential to see significant investment by new and emerging companies due to its unique access to infrastructure and skilled workforce. An imperative to attracting these opportunities is safe, reliable power - and increasingly important, access to renewable power. To do its part to protect the environment and help the state grow through economic development, Entergy Louisiana recently made the largest renewable power expansion request in state history.

On March 13, the company filed a request with its regulator, the Louisiana Public Service Commission, for approval to add an additional three gigawatts of solar power to its generation portfolio. This is on top of the nearly 225 megawatts of solar power the company requested earlier this month. In that regulatory filing, Entergy Louisiana sought approval for approximately 175 megawatts from a facility in Iberville Parish and approximately 49 megawatts from what would become the Sterlington Solar Facility in Ouachita Parish.

Collectively, 3,225 megawatts of solar power are in the approval queue for potential construction, development and placement on the grid through agreements with Entergy Louisiana, a major step forward in meeting the sustainability needs of its current and future customers.

"Like never before, our state has opportunity to retain businesses, support expansion projects and attract new companies on a global scale, but it's going to take meeting their operational and sustainability needs," said Phillip May, Entergy Louisiana president and CEO. "Our latest request for up to three gigawatts of renewable power, the largest such expansion request in state history, shows we're serious about not only protecting the environment by reducing our carbon footprint, but also continuing to be a major driver of economic development. This is not only a net-positive for our company and industries, but for the future of our state.

"I'm incredibly thankful to the countless local partners and officials who are helping bring projects such as these to the finish line. These are true partnerships that are formed for the betterment of Louisiana."

The individual resources that make up the three-gigawatt proposal would be constructed in Louisiana, meaning local communities and economies would benefit from job creation and additional tax revenues generated during construction of the facilities. In addition, further diversifying the company's generation portfolio will help protect all customers from the volatility of natural gas prices and other factors outside of Entergy's control.

Currently, Entergy Louisiana has approximately 280 megawatts of renewable resources, including the Capital Region Solar facility, which began delivering power to the grid in October 2020. Along with nuclear generation, nearly 25% of the company's portfolio comes from carbon-free resources.

These solar additions in Louisiana are consistent with Entergy Corporation's plans for as much as 15 to 17 gigawatts of renewable resources by the end of 2031. The company previously announced a commitment to achieving net-zero carbon emissions by 2050.

These projects are another milestone in the modernization of Entergy's power generation portfolio, helping meet customers' needs for cleaner, more efficient and diverse energy solutions. Learn more about our renewable energy generation growth at entergy.com/renewable-energy.

About Entergy Louisiana

Entergy Louisiana, LLC provides electric service to more than 1 million customers in 58 parishes and natural gas service to more than 94,000 customers in Baton Rouge, Louisiana. Entergy Louisiana is a subsidiary of Entergy Corporation (NYSE: ETR), an integrated energy company engaged in electric power production, transmission and retail distribution operations. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 24,000 megawatts of electric generating capacity, including 5,000 megawatts of nuclear power. Headquartered in New Orleans, Louisiana, Entergy has annual revenues of $10 billion and approximately 12,000 employees.

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Entergy Corporation published this content on 16 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 March 2023 15:54:04 UTC.


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Financials (USD)
Sales 2023 12 894 M - -
Net income 2023 1 409 M - -
Net Debt 2023 27 545 M - -
P/E ratio 2023 15,5x
Yield 2023 4,16%
Capitalization 21 992 M 21 992 M -
EV / Sales 2023 3,84x
EV / Sales 2024 3,96x
Nbr of Employees 11 707
Free-Float 72,0%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 103,69 $
Average target price 120,80 $
Spread / Average Target 16,5%
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Managers and Directors
Andrew S. Marsh Chairman & Chief Executive Officer
Kimberly A. Fontan Chief Financial Officer & Executive Vice President
Peter S. Norgeot Chief Operating Officer & Executive Vice President
Alexis Margaret Herman Independent Director
Stuart L. Levenick Independent Director
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