PROJECT AT A GLANCE

~460MW
Proposed generation capacity
Turbines
2 Siemens natural gas combustion turbines
2nd Half of 2028
Commercial operation
Merom Site
Co-located on existing 1 GW facility
MISO Zone 6
Capacity-constrained market

About the Project

Conceptual rendering shown for illustrative purposes only.

Turtle Creek Gas is a proposed approximately ~460-megawatt natural gas generation project at Hallador Energy’s Merom site in Sullivan County, Indiana.

Hallador Power is adding a generating asset in MISO Zone 6, a region that needs new power generation. The project will help meet growing electricity demand across Indiana and the MISO region by delivering reliable, dispatchable power when customers need it most.

Turtle Creek Gas offers three primary advantages:

  • Lower capital costs
  • Speed to market
  • Cost-competitive power for customers and communities

Hallador will leverage one gigawatt of existing generation and infrastructure, secured Siemens equipment, and an existing transmission interconnection to accelerate development and create significant timing advantages over other generation projects while reducing capital requirements and supporting long-term affordability.

Through MISO’s Expedited Resource Addition Study process, Hallador is moving Turtle Creek Gas through the interconnection process and accelerating the addition of new generation to the grid. The facility is expected to begin delivering power to the grid in the second half of 2028.

Always On.

PROJECT TIMELINE

1

Early 2026

  • Secured Siemens generation equipment.
  • Advanced the MISO interconnection study.
  • Initiated engineering and permitting.
2

Mid 2026

  • Complete the MISO interconnection study.
  • Evaluate the final investment decision.
3

2027 to 2028

  • Restore equipment.
  • Construct the facility, subject to approvals.
4

Second Half of 2028

  • Targeted commercial operation commencement.

Project timing depends on regulatory approvals, financing, permitting, engineering, commercial agreements, and other development milestones.

Project Progress

Hallador secured ~460 megawatts of Siemens natural-gas generation equipment for Turtle Creek Gas, marking a major milestone in the project’s development.

New gas turbines currently carry multi-year order backlogs industry-wide. By securing actual Siemens equipment, not production slots, Hallador removed the single longest lead-time risk from the project schedule.

Hallador continues to advance the project through MISO’s Expedited Resource Addition Study while completing engineering, permitting, and commercial development activities.

Hallador is actively marketing the facility’s capacity and energy output through long-term power purchase agreements.

POWER FOR THE REGION

Electricity demand continues to grow as Indiana expands and businesses invest across the region. At the same time, utilities continue to retire older generating assets, increasing the need for dependable, dispatchable power.

Turtle Creek Gas will help meet that demand while building on the strength of the Merom site. Hallador will use existing infrastructure, an experienced workforce, and decades of operating experience to bring new generation to the market.

The project will:

  • Strengthen electric reliability.
  • Support economic growth.
  • Diversify Hallador’s generation portfolio.
  • Maximize existing infrastructure.
  • Strengthen the long-term future of the Merom site.

Commercial Opportunities

Turtle Creek Gas will provide customers with access to reliable generation in MISO
Zone 6. Hallador is actively marketing the facility’s capacity and energy output
through long-term power purchase agreements.

For additional information, please contact:

Elliott Batson
Chief Commercial Officer
ebatson@halladorenergy.com
Cham Kong
SVP of Power Origination & Risk
ckong@halladorenergy.com

This page contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the proposed natural gas project at Merom, receipt of a favorable GIA from MISO, execution of long-term offtake agreements, project financing, and the timing of commercial operation and potential revenue. Forward-looking statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially, including those described in Hallador’s Form 10-K and other SEC filings. Hallador undertakes no obligation to update any forward-looking statement except as required by law. Figures are subject to change.