IPL plans to broaden the portfolio with the Indiana Solar Challenge
Indianapolis Power & Light Co. (IPL), a subsidiary of AES Corp., has announced plans to acquire a 195 MW solar project.
"IPL has long provided its customers with a safe, reliable and affordable electrical service," said Kristina Lund, President and CEO of IPL. "By investing in solar energy, we can diversify our power generation portfolio and at the same time reliably serve our customers."
The solar project is expected to be completed in 2023 and is located in Clinton County, Indiana. Invenergy, a company that develops, owns and operates large sustainable energy generation and storage facilities, will develop the project and manage the construction. The acquisition agreement must be approved by the Indiana Utility Regulatory Commission. The project will create 200 temporary construction jobs and provide lasting economic benefits to landowners in the area.
Through its recently integrated resource plan, IPL has determined that new generation resources are needed to meet the needs of its customers. An extensive process that involved a request for a quote from all sources led IPL to Invenergy in Chicago. IPL provides retail power to more than 490,000 residential, commercial and industrial customers in Indianapolis and parts of other central Indiana communities around Marion County.