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NIPSCO, Capital Dynamics Sign Build Transfer Agreement for Indiana Solar Project

Written by: Leonard Parker | Solar News | 13th April

Northern Indiana Public Service Co. LLC (NIPSCO), a subsidiary of NiSource Inc., and the Clean Energy Infrastructure (CEI) business of Capital Dynamics, an independent global private asset management firm, have signed a build transfer agreement (BTA) to bring 200 MW of solar energy to Indiana with the Elliot Solar project.

“We are proud to partner with Capital Dynamics on another solar energy project in our home state,” says Mike Hooper, president of NIPSCO. “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.”

Located in Gibson County, Ind., the Elliot Solar project is expected to begin construction in summer 2022 and begin commercial operations in summer 2023. Capital Dynamics will construct the project and NIPSCO will enter into a joint venture once construction is complete.

Elliot Solar adds to NIPSCO’s two operating wind farms as well as 11 renewable energy projects previously announced as part of NiSource’s “Your Energy, Your Future” initiative – which includes the generation transition plan at NIPSCO. The NIPSCO projects include a combination of similar joint ventures and power purchase agreements. The company plans to be coal-free by 2028, adding cleaner energy sources to its existing portfolio of natural gas and hydroelectric generation. 

NIPSCO has requested the addition of this new project to its supply portfolio in filings with the Indiana Utility Regulatory Commission. 

Interested parties can learn more about NIPSCO’s “Your Energy, Your Future” plans and the latest information by clicking, here.

Photo: NIPSCO’s About Us web page