NiSource signs 20.5-year, $2.2 billion battery storage agreement

NiSource subsidiary NiSource Generation Company agreed on October 15, 2026, to a tolling agreement with AGP Capital Holdings’ Atlas Storage 1 for a 600 MW/2,400 MWh battery storage project connected to the MISO transmission system. The project’s first phase is expected to begin commercial operations by December 1, 2027, with NiSource making about $2.2 billion in storage payments over roughly 20.5 years; the agreement is expected to be recorded as a finance lease and remains conditional on construction and interconnection contracts by January 31, 2027.