NIPSCO Inks 280MW Solar Energy PPA with Capital Dynamics

US-based Northern Indiana Public Service Company (NIPSCO) has signed a long-term Power Purchase Agreement (PPA) with Clean Energy Infrastructure (CEI) business of Capital Dynamics, a global asset management firm.

Per the PPA, NIPSCO will buy 280 MW of power generated from a CEI-owned greenfield solar project called Gibson Solar, one of two projects being developed by CEI in Gibson County, Indiana. Arevon Energy Management and Tenaska are co-developing this project and were instrumental in signing of the PPA.

Commenting on the agreement signed, Mike Hooper, president of NIPSCO, said that “we are proud to partner with Capital Dynamics on the Gibson purchase power agreement. 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.”

The Gibson Solar project is one of 19 projects that 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 expected to start in 2022, and commercial operation anticipated in 2023. 

Speaking on the development, Benoit Allehaut, managing director of Capital Dynamics Clean Energy Infrastructure, said that “this is one of the largest solar projects located east of the Mississippi, and the Gibson project will be an important contributor to the on-going energy transition in Indiana. We applaud Northern Indiana Public Service Company for the long-term commitment and Tenaska and Arevon Energy Management for their support reaching this milestone on our large portfolio in MISO.”

“Securing a power customer is an important milestone in the development of a solar project, and we are excited that the Gibson project is the next step in NIPSCO’s transition  to meet  its customers’ future energy needs,” said Steve Johnson, senior vice president in Tenaska’s Strategic Development & Acquisitions Group.