Chesterton Tribune

 

 

NIPSCO signs solar energy power agreement

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The Northern Indiana Public Service Company and the Clean Energy Infrastructure (CEI) business of Capital Dynamics have signed a long-term power purchase agreement (PPA), NIPSCO announced this morning.

Under the PPA’s terms, NIPSCO will purchase 280MW of the power generated by a CEI-owned greenfield solar project called Gipson Solar, one of the projects being developed by CEI in Gibson County, Ind. Arevon Energy Management and Tenaska are co-developing this project and were instrumental in the signing of the PPA.

“We are proud to partner with Capital Dynamics on the Gibson purchase power agreement,” NIPSCO President Mike Hooper said. “The addition of this homegrown Indiana solar energy project is the next step in our innovative and gradual transition to lower-cost, cleaner energy for our customers.”

Capital Dynamics is an independent global private asset management firm.

NIPSCO has previously announced eight other renewable energy projects, which include a combination of similar purchase power agreements and joint ventures, as part of its “customer-centric ‘Your Energy, Your Future’ generation transition plan.”

“The company plans to be coal-free by 2028, adding a combination of cleaner energy resources to its existing portfolio of natural gas and hydroelectric generation,” the company said. “NIPSCO’s industry-leading generation transition will deliver a more affordable, reliable, and sustainable energy mix for NIPSCO customers for years to come--saving customers $4 billion over the long term.”

NIPSCO will request the addition of these new projects to its supply portfolio in filings with the Indiana Utility Regulatory Commission.

The Gibson Solar project is one of 19 projects which Capital Dynamics acquired from Tenaska in November 2018 and April 2019, and is located on approximately 2,400 acres in southern Indiana. The project is currently in the development stage with construction to begin in 2022 and commercial operation expected in 2023.

“This is one of the largest solar projects located east of the Mississippi, and the Gibson project will be an important contributor to the ongoing energy transition in Indiana,” said Benoit Allehuat, managing direction of Capital Dynamics’ Clean Energy Infrastructure.

 

 

Posted 12/17/2020

 
 
 
 

 

 

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