PNW · 8-K · 20260930PR000049
Generation Investment Program
PINNACLE WEST CAPITAL CORP · 2026-09-30 · Importance 58 · Surprise 42 · In source text
Pinnacle West announced plans for up to 2 GW of new gas generation and up to $440 million of incremental investment to convert the retired Cholla plant to 380 MW of natural-gas generation. The company made an approximately $200 million investment to buy out nearly 100 MW of Palo Verde nuclear capacity previously under a sale-leaseback. It also increased the Palo Verde capital program by approximately $500 million over the next 10 years.
Key facts
- PINNACLE WEST CAPITAL CORP announced incremental investment of up to $440 million to convert the retired Cholla power plant to 380 MW of natural gas generation. source
- PINNACLE WEST CAPITAL CORP made an approximately $200 million investment to buy out nearly 100 MW of nuclear capacity previously under sale-leaseback at Palo Verde. source
- PINNACLE WEST CAPITAL CORP increased its Palo Verde capital program investment by approximately $500 million over the next 10 years. source
- PINNACLE WEST CAPITAL CORP expects a new gas pipeline, for which it is an anchor shipper, to be in service by late 2029. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -1.3% | PINNACLE WEST CAPITAL CORP increased its Palo Verde capital program investment by approximately $500 million over the next 10 years. |
| assets | positive | committed | +1.3% | PINNACLE WEST CAPITAL CORP increased its Palo Verde capital program investment by approximately $500 million over the next 10 years. |
| cash | negative | realized | -0.6% | PINNACLE WEST CAPITAL CORP made an approximately $200 million investment to buy out nearly 100 MW of nuclear capacity previously under… |
| assets | positive | realized | +0.6% | PINNACLE WEST CAPITAL CORP made an approximately $200 million investment to buy out nearly 100 MW of nuclear capacity previously under… |
| cash | negative | probable | -0.3% | PINNACLE WEST CAPITAL CORP announced incremental investment of up to $440 million to convert the retired Cholla power plant to 380 MW of… |
| assets | positive | probable | +0.3% | PINNACLE WEST CAPITAL CORP announced incremental investment of up to $440 million to convert the retired Cholla power plant to 380 MW of… |