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CMS Energy Stock Price

63.09 +0.12 +0.19% Volume: 1,714,206 08.04.20 04:02 ET

CMS Energy Stock Price

4Aug2020 04:02 ET 63.09 +0.12 +0.19% Volume: 1,714,206

Media Contacts

MEGAN
BROWN
Senior Director of Public Relations
and Communications
517-788-6538
megan.brown@cmsenergy.com
KATIE
CAREY
Director of Media Relations
517-788-2395
katelyn.carey@cmsenergy.com
BRIAN
WHEELER
Senior Public Information Director
517-788-2394
brian.wheeler@cmsenergy.com

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Non-GAAP Information

In addition to disclosing results determined in accordance with GAAP, CMS may also disclose certain non-GAAP and pro forma non-GAAP results of operations, including net income, earnings per share, and operating income that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. CMS provides historical financial results on both a GAAP and non-GAAP basis. Management views adjusted earnings as a key measure of the company’s present operating financial performance and uses adjusted earnings for external communications with analysts and investors. Internally, the company uses adjusted earnings to measure and assess performance. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, regulatory items from prior years, or other items. Because the company is not able to estimate the impact of specific line items, which have the potential to significantly impact, favorably or unfavorably, the company’s reported earnings in future periods, the company is not providing reported earnings guidance nor is it providing a reconciliation for the comparable future period earnings.

CMS and Virtua also take no responsibility for third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data. The non-GAAP information is not prepared in accordance with GAAP and may not be comparable to non-GAAP information used by other companies. The non-GAAP information should be considered supplemental information to assist in fully understanding our business results, rather than as a substitute for the reported earnings.

A reconciliation of each of these non-GAAP measures to the most directly comparable GAAP measure is included as a separate link and also posted on the CMS website at www.cmsenergy.com.

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News Releases

CMS Energy Purchases 51% Ownership in Aviator Wind Farmin Texas; Project Will Produce Clean Energy Committed to Facebook, McDonald's

Jul 30, 2020

JACKSON, Mich., July 30, 2020 /PRNewswire/ -- CMS Energy today announced it has purchased a majority stake in Aviator Wind, a 525-megawatt wind energy project in Texas that will support efforts by Facebook and McDonald's to achieve their clean energy goals. The project will start operations by fall 2020 in Coke County, about 250 miles southwest of Dallas.

Aviator Wind will be operated by CMS Enterprises, a subsidiary of CMS Energy that develops, owns and operates utility-scale renewable energy facilities, including wind and solar.

"Through Aviator Wind, we're proud to continue the drive toward sustainable energy and help two of the nation's largest organizations meet their aggressive renewables goals," said Richard Mukhtar, president of CMS Enterprises. "Facebook and McDonald's join a growing roster of CMS Enterprises customers that have access to the full spectrum of energy products and services that we provide under one roof."

CMS Enterprises is focused on U.S.-based utility-scale wind, solar and energy storage projects it can develop, own and operate for large customers, including electric cooperatives and municipalities. Most recently, CMS Enterprises started operating Northwest Ohio Wind, a 105-megawatt project that generates clean energy committed to General Motors. With the Aviator Wind acquisition, CMS Enterprises now owns and operates 11 independent power plants and more than 1,800 megawatts of generation nationwide.

Aviator Wind will help Facebook – the largest corporate purchaser of renewable energy in the U.S. in 2019 – reach its goal to reduce its greenhouse gas emissions by 75% and support 100% of its operations with renewable energy this year. "This project will be an important part of helping us successfully reach our targets, and we are proud to be bringing 200 megawatts of new wind energy online," said Urvi Parekh, renewable energy manager at Facebook.

McDonald's is the world's first restaurant company to set a greenhouse gas emissions reduction target approved by the Science Based Targets initiative. "Through this project, we're able to significantly generate progress toward our Climate Action Target to reduce emissions related to McDonald's restaurants and offices by 36% by 2030," said Emma Cox, sustainability manager for McDonald's. "Now more than ever we're thrilled to see the positive impact this project will have on the community and planet."

CMS Enterprises purchased the project's majority stake from funds managed by Ares Management Corporation's Infrastructure and Power strategy, which constructed and managed the project. Kansai Electric Power is the project's other major partner.

"Despite the challenges posed by the pandemic, CMS Energy is committed to our Triple Bottom Line of People, Planet and Profit that drives us to take a leadership role with clean energy projects like Aviator Wind," said DV Rao, CMS Energy's senior vice president of strategy. "Aviator Wind offers an example of how we can develop energy solutions that keep U.S. businesses competitive and address our planet's most pressing needs."

CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business. CMS Enterprises also owns and operates independent power generation businesses.

For more information on CMS Energy, please visit our website at cmsenergy.com.

For direct inquiries about CMS Enterprises, contact cmsenterprises@cmsenergy.com.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/cms-energy-purchases-51-ownership-in-aviator-wind-farmin-texas-project-will-produce-clean-energy-committed-to-facebook-mcdonalds-301103372.html

SOURCE CMS Energy

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