Merrillville-based NIPSCO has taken another step to ensure electricity it is supplying to its customers is coming from green sources.
NIPSCO signed a long-term power purchase agreement with the Clean Energy Infrastructure business of Capital Dynamics, an independent global private asset management firm. Under the terms of the deal, NIPSCO will purchase 280 megawatts of the power generated by CEI-owned Gibson Solar in Gibson County in southern Indiana. It is one of two solar projects being developed by CEI in Gibson County.
“We are proud to partner with Capital Dynamics on the Gibson purchase power agreement,” said Mike Hooper, NIPSCO president. “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.”
Eight renewable energy projects have previously been announced by NIPSCO, which include a combination of similar purchase power agreements and joint ventures, as part of its “Your Energy, Your Future” generation transition plan. The company plans to be coal-free by 2028 and expects its and sustainable energy mix could save its customers $4 billion over the long term.
NIPSCO serves approximately 820,000 natural gas and 470,000 electric customers across 32 counties in northern Indiana.