Merom Generating Station

Hallador Energy Company Reports Record Net Income and Adjusted EBITDA for First Half of 2023; Leverage Ratio moves below 1.0X

Retrieved on: 
Monday, August 7, 2023
Coal, Merom Generating Station, EBITDA, Letter of credit, Credit, Merom, Bank

Our team was also successful in closing a $140 million credit agreement, increasing our liquidity to $56.9 million as of June 30, 2023.

Key Points: 
  • Our team was also successful in closing a $140 million credit agreement, increasing our liquidity to $56.9 million as of June 30, 2023.
  • Hallador Power completed its obligation of selling 100% of its output to Merom’s original owner and is now available to sell power to other markets."
  • The Company shipped 1.7 million tons for the quarter, with approximately 0.3 million tons shipped to the Merom Power Plant.
  • The Company closed on a $140 million credit facility on August 2, 2023 extending the maturity to 2026.

Hallador Energy Company Reports Full-Year 2022 Financial and Operating Results

Retrieved on: 
Thursday, March 16, 2023
Sale, Coal, Accreditation, Acquisition, Merom Generating Station, Cryptocurrency, Bank, Renewable energy

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Key Points: 
  • TERRE HAUTE, Ind., March 16, 2023 (GLOBE NEWSWIRE) -- Hallador Energy Company (NASDAQ – HNRG) today reported net income of $18.1 million, $0.57 per share for the full year 2022.
  • Brent Bilsland, President and Chief Executive Officer, stated, "2022 was a transformational year for Hallador.
  • As of December 31, 2022, our bank debt was $85.2 million, our liquidity was $32.1 million, and our leverage ratio was 2.05X.
  • The Company continues to be well positioned with contracted tons for the next few years.

Hallador Energy Company Reports Third Quarter 2022 Financial and Operating Results, Pays Down 34% of Outstanding Bank Debt

Retrieved on: 
Monday, November 14, 2022
Merom Generating Station, Acquisition, EBITDA, Merom, Renewable energy, Bank, Fine chemical, Q3, Q2

TERRE HAUTE, Ind., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Hallador Energy Company (NASDAQ HNRG) today reported a net incomeof $1.6million, $.05 per share, adjusted EBITDA of $18.4million for the quarter ended September30, 2022.

Key Points: 
  • TERRE HAUTE, Ind., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Hallador Energy Company (NASDAQ HNRG) today reported a net incomeof $1.6million, $.05 per share, adjusted EBITDA of $18.4million for the quarter ended September30, 2022.
  • Brent Bilsland, President and Chief Executive Officer, stated, "Q3 was a transitional quarter for Hallador.
  • We signed materially higher priced contracts and expanded our production capacity to take advantage of higher market prices.
  • The Merom Generating Station acquisition was completed on October 21, 2022, resulting in Hallador receiving net payments of $34 million.

Hallador Energy Company, Hoosier Energy finalize ownership transfer of Merom Generating Station, multiyear PPA

Retrieved on: 
Friday, October 21, 2022
U.S. Securities and Exchange Commission, LLC, PPA, NASDAQ, Merom Generating Station, Security (finance), Acquisition, Board, Hoosier, GLOBE, Board of directors, Merom, Risk, Renewable energy

Hoosier will purchase 100% of the plants energy and capacity through May 2023, reducing purchases to 22% of energy output and 32% of its capacity beginning in June 2023 and through 2025.

Key Points: 
  • Hoosier will purchase 100% of the plants energy and capacity through May 2023, reducing purchases to 22% of energy output and 32% of its capacity beginning in June 2023 and through 2025.
  • The acquisition of Merom is exciting for Hallador shareholders as it is the beginning of a more diversified and growing earnings platform that we will continue to build upon said Hallador Energy CEO Brent Bilsland.
  • Hoosier Energy and its member distribution cooperatives benefit significantly from this agreement, providing short- and long-term cost savings and continued stability during the transition of our resource portfolio, said Hoosier Energy President & CEO Donna Walker.
  • Founded in 1949, Hoosier Energy is a generation and transmission cooperative (G&T) with headquarters in Bloomington, Indiana.

CAMS Awarded O&M Services Contract for Hallador Energy’s Merom Generating Station

Retrieved on: 
Friday, June 10, 2022
Other Energy, Utilities, Oil, Gas, Coal, Alternative Energy, Energy, Nuclear, Merom Generating Station, LLC, Knowledge, Transport, ESG, Environment, Workforce, Hoosier, MISO, Electricity, Acquisition, Industry, CAMS, Maintenance (technical), Family, O&M, Renewable energy, Maintenance, Social

Consolidated Asset Management Services (CAMS), an industry leading asset management and operations and maintenance (O&M) services provider, announced today that it was awarded an O&M contract to support Hallador Energy Company (Hallador) and its Merom Generating Station (Merom), a 1,000 MW coal-fired power generating station in Indiana.

Key Points: 
  • Consolidated Asset Management Services (CAMS), an industry leading asset management and operations and maintenance (O&M) services provider, announced today that it was awarded an O&M contract to support Hallador Energy Company (Hallador) and its Merom Generating Station (Merom), a 1,000 MW coal-fired power generating station in Indiana.
  • We are excited to partner with Hallador Energy in providing reliable baseload power to the MISO region, said Greg Bobrow, CAMS Chief Operating Officer.
  • We welcome the Merom employees to the CAMS family and look forward to their continued contributions and service.
  • Earlier this year, Hallador Energy announced that its new wholly owned subsidiary, Hallador Power Company, LLC, would acquire Hoosier Energys Merom pant.

AboutBit launches high-tech redevelopment project in Southwest Indiana

Retrieved on: 
Wednesday, May 11, 2022
Mining, LLC, GLOBE, BTC, Merom Generating Station, Partnership, Starlink, Environment, Industry, Electricity, Farmer, Energy, Solution, Growth, Farm, Cryptocurrency, Renewable energy, Public utility

WIN Energy CEO Tom Nowaskie says the project will benefit the local economy and member-owners of the cooperative.

Key Points: 
  • WIN Energy CEO Tom Nowaskie says the project will benefit the local economy and member-owners of the cooperative.
  • Through a five-year agreement, AboutBit will purchase 115 megawatts of electricity from WIN Energy to power the facility.
  • Hoosier Energy is owned and governed by 18 member distribution cooperatives in Central and Southern Indiana and Southeastern Illinois, including WIN Energy.
  • AboutBit is propelling higher gross margins and providing a lower risk environment for its partners, the industry, and the planet.

AboutBit launches one of nation’s largest cryptocurrency mining facilities

Retrieved on: 
Wednesday, May 11, 2022
Bitcoin, Mining, Miner, GLOBE, BTC, Merom Generating Station, RFC, Partnership, Starlink, Industry, Electricity, Efficiency, Energy, Solution, Technology, Growth, Cryptocurrency

It will eventually support more than 50,000 machines, aimed at mining Bitcoin and a variety of proof-of-work assets.

Key Points: 
  • It will eventually support more than 50,000 machines, aimed at mining Bitcoin and a variety of proof-of-work assets.
  • The project stands apart from other large crypto mining facilities because of both its technology and the team behind it.
  • The new facility expands AboutBits mining capacity and adds to existing mining sites in the Midwest and Western United States.
  • In addition to the mobile miners, AboutBit is investing in brick-and-mortar mining facilities in the Midwest and Western United States.

Hallador Energy Company Reports Full-Year 2021 Financial and Operating Results

Retrieved on: 
Monday, March 28, 2022
EBITDA, NASDAQ, Contract, Merom Generating Station, Hoosier, Merom, PPA, LLC, GLOBE, Acquisition, Renewable energy, Bank, Security (finance)

TERRE HAUTE, Ind., March 28, 2022 (GLOBE NEWSWIRE) -- Hallador Energy Company (NASDAQ HNRG) today reported net lossof $3.8million, ($.12) per share.

Key Points: 
  • TERRE HAUTE, Ind., March 28, 2022 (GLOBE NEWSWIRE) -- Hallador Energy Company (NASDAQ HNRG) today reported net lossof $3.8million, ($.12) per share.
  • Brent Bilsland, President and Chief Executive Officer, stated, "The announcement of the acquisition of the Merom Generation Station is an absolute game changer for Hallador Energy Company.
  • On February 15th, 2022, Hallador Energy announced its new wholly owned subsidiary, Hallador Power Company, LLC, will acquire Hoosier Energys 1-Gigawatt Merom Generating Station (Merom), located in Sullivan County, Indiana, in return for assuming certain decommissioning costs and environmental responsibilities.
  • We expect Hallador Power to contribute little to Hallador Energy profits in 2022.

Hallador Energy Company, Hoosier Energy announce agreement to transfer ownership of Merom Generating Station, multiyear PPA

Retrieved on: 
Tuesday, February 15, 2022
NASDAQ, LLC, Merom Generating Station, Coal, Ownership, PPA, Retirement, EST, GLOBE, Hoosier, Renewable energy

The transaction, which includes a 3.5-year power purchase agreement (PPA), is scheduled to close in mid-July 2022 upon obtaining required governmental and financial approvals.

Key Points: 
  • The transaction, which includes a 3.5-year power purchase agreement (PPA), is scheduled to close in mid-July 2022 upon obtaining required governmental and financial approvals.
  • As the future owner and operator of Merom, Hallador secures demand for up to half of its coal production for years to come, said Hallador Energy CEO Brent Bilsland.
  • In January 2020, Hoosier Energy announced a new Long Range Resource Plan, which included the expected retirement of Merom in May 2023.
  • This is an ideal outcome for Hoosier Energy and its member distribution cooperatives, continuing our commitment to provide reliable, affordable and sustainable power, said Hoosier Energy President & CEO Donna Walker.

Hallador Energy and Hoosier Energy Working Together to Develop Renewable Generation at Merom Site

Retrieved on: 
Tuesday, June 1, 2021
Merom Generating Station

The new generation will be located near the Merom Coal Generation Station in Sullivan, IN which Hoosier Energy expects to retire in May 2023.

Key Points: 
  • The new generation will be located near the Merom Coal Generation Station in Sullivan, IN which Hoosier Energy expects to retire in May 2023.
  • The plan calls for Hallador to develop approximately 200MW of energy from solar and battery storage through power purchase agreements with Hoosier Energy in 2025.
  • Hallador will seek other customers to develop the remaining generation capacity at the Merom interconnection site.
  • "We are excited for the opportunity to work with Hallador Energy and open a path for them to develop renewable energy near the Merom Station, said Donna Walker, President and CEO of Hoosier Energy.