Today, Northern Indiana Public Service Company, LLC (NIPSCO) and the Clean Energy Infrastructure (CEI) business of Capital Dynamics announced they signed a build transfer agreement. Accordingly, the deal will bring 200 megawatts of solar energy to Indiana with the Elliot Solar project.
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NIPSCO and CEI Capital Dynamics sign build transfer agreement for the Elliot Solar Project
NIPSCO and the Clean Energy Infrastructure business of Capital Dynamics announced today they signed a build transfer agreement. Therefore, the deal will bring 200MW of solar energy to Indiana with the Elliot Solar project.
In fact, the Elliot Solar project is located in Gibson County, Indiana. Besides, it is expected to begin construction in summer 2022 and begin commercial operations in summer 2023.
Accordingly, Capital Dynamics will construct the project, and NIPSCO will enter into a joint venture once construction is complete.
Indeed, Elliot Solar adds to NIPSCO’s two operating wind farms. It also adds to the 11 renewable energy projects previously announced as part of NiSource’s customer-centric “Your Energy, Your Future” initiative.
For instance, this initiative includes the generation transition plan at NIPSCO. Also, the Company’s projects include a combination of similar joint ventures and power purchase agreements.
Reception and completion dates
Moreover, the Company plans to be coal-free by 2028, adding cleaner energy sources to its existing natural gas and hydroelectric generation portfolio.
According to the Company, NIPSCO’s industry-leading generation transition will deliver a more affordable, reliable, and sustainable energy mix for its customers for years to come. In fact, the Company is looking to save customers $4 billion over the long term.
“We are proud to partner with Capital Dynamics on another solar energy project in our home state;” said Mike Hooper, NIPSCO president. Thus, “the addition of Elliot Solar to NIPSCO’s portfolio is a major step in our transition to lower-cost, cleaner, and reliable energy for our customers.”
Also, “Capital Dynamics is proud to further expand our presence in Indiana and contribute to the state’s ongoing energy transition,” said John Breckenridge, Head of Clean Energy Infrastructure at the Company. Therefore, “we applaud NIPSCO for its commitment to providing customers with sustainable energy solutions.”