NIPSCO, Invenergy Planning 250 MW Fairbanks solar venture
Northern Indiana Public Service Co. LLC (NIPSCO), a subsidiary of NiSource Inc., and Invenergy, developer and operator of sustainable energy solutions, have signed a construction transfer agreement with the Fairbanks Solar project to bring 250 MW of solar energy to Indiana.
Located in Sullivan County, the project is expected to go into commercial operation in the fall of 2023. Invenergy will build the project and NIPSCO will enter into a joint venture once construction is complete. During the life of the project, Fairbanks Solar will invest $ 110 million directly in the local economy through new tax revenues and payments from landowners. The project will support up to 250 jobs during the construction period.
"We are proud to partner with Invenergy on this Fairbanks solar construction transfer agreement," said Mike Hooper, President of NIPSCO. "In addition to the positive economic impact of this project on our home state, this project is the next step in our transition to power generation, which will save our customers $ 4 billion over the long term."
Fairbanks Solar complements NIPSCO's two operational wind farms and eight renewable energy projects previously announced as part of NiSource's Your Energy, Your Future initiative, which includes NIPSCO's generation change plan. The NIPSCO projects include a combination of similar joint ventures and power purchase agreements.
NIPSCO has applied to the Indiana Utility Regulatory Commission to add this new project to its delivery portfolio. The company expects to announce more renewable projects in the coming weeks.
Customers can learn more about their NIPSCO energy and future plans here.
Photo: Michael Polsky, Founder and CEO of Invenergy
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