Capital Dynamics’ Clean Energy Infrastructure (CEI) business has signed a 280MW power purchase agreement (PPA) with Northern Indiana Public Service Company (NIPSCO).
As part of the contract NIPSCO, a subsidiary of utility company NiSource, will purchase energy generated by a CEI’s solar project. The Gibson Solar project covers 2,400 acres of land area in Gibson County, southern Indiana. It is one of two projects currently being developed by CEI in the county. Construction works will begin in 2022, and commercial operations will start in 2023.
It is also one of 19 projects Capital Dynamics acquired from Tenaska in November 2018 and April 2019. Arevon Energy Management and Tenaska have co-developed the project, and had a key role in the power purchase contract.
Capital Dynamics Clean Energy Infrastructure managing director Benoit Allehaut said: “We are grateful for the partnership with Northern Indiana Public Service Company on the 280MW AC Gibson solar project.
“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.
“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 the area.”
Before this deal, NIPSCO signed power purchase agreements and joint ventures with eight renewable energy projects. The company expects to announce additional renewable projects in the coming months.
NIPSCO president Mike Hooper said: “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.”
Last month, CEI completed the acquisition of three solar photovoltaic fully-contracted operating projects from LS Power.