NiSource, Microsoft Sign 20-Year Power Agreement

08:03 AM EDT, 10/16/2026 (MT Newswires) -- NiSource (NI) said Friday it has reached a 20-year agreement with Microsoft (MSFT) to supply power to the company's planned data center campus in northwest Indiana, with service expected to begin in 2028. The agreement will add about 1,100 megawatts of generation resources and extend expected savings for existing customers to about $1.75 billion over the life of data center contracts, up from a previously estimated $1.4 billion, the company said. Microsoft will fully fund the generation and transmission infrastructure needed to serve its load, NiSource said. NiSource's GenCo unit has contracted 600 MW of battery storage under a long-term tolling agreement with an affiliate of AGP Group, the utility company said. The company plans to provide further operational and financial details during its third-quarter earnings call, NiSource added. Shares of NiSource were 2.9% higher in Friday premarket activity.