The Indiana Utility Regulatory Commission on Wednesday approved Indiana Michigan Power's plan to expand its renewable energy generation with four new solar plants capable of generating energy to power more than 200,000 typical homes by mid-2026.
The important advances in clean energy are consistent with the Powering the Next Tomorrow Integrated Resource Plan that Indiana Michigan Power (I&M) previously submitted to regulators in Michigan and Indiana. These solar power plants and the company's plans to add even more clean-energy resources are part of I&M's and American Electric Power's commitment to achieve net zero carbon dioxide emissions by 2045.
The Indiana Utility Regulatory Commission determined that the four new solar power plants will help serve the public's energy needs and are designated as Clean Energy Projects. The four solar plants were selected as the best among 32 project bids submitted as part of an open, competitive request-for-proposals process. The plants are consistent with I&M's Integrated Resource Plan addressing the future energy needs of customers in light of the planned retirement of I&M's last remaining coal-fueled plant by 2028.
"These four Clean Energy Projects will diversify I&M's energy mix, support reliability, provide environmental benefits and safeguard against fuel-cost volatility," said Steve Baker, I&M president and chief operating officer. "The availability of renewable energy is important to support economic development opportunities in the communities I&M serves. Increasing the amount of renewable energy available to businesses will be a significant benefit to maintaining and attracting new investments and jobs to the area."
The diversity of generation sources also increases I&M's flexibility to better serve customers by having options to address future changes in regulatory policies and price volatility of energy prices for the various forms of generation.
The four Indiana plants will have a combined generation capacity of 749 megawatts (MW). Other details:
I&M will invest about $1 billion in the two largest solar power plants, Lake Trout and Mayapple, which I&M will own and operate. I&M will purchase the power generated from the independently operated Sculpin and Elkhart County solar power plants.
The developers of the four sites have been working with local officials in the four counties to address any concerns and meet the requirements to gain local approval.
I&M's plans were also submitted to the Michigan Public Service Commission, which has approved the Mayapple, Sculpin and Elkhart County plants. The Lake Trout facility is subject to a different regulatory process in Michigan due to its larger size and is still pending.
I&M's current clean-energy generation includes five solar plants; wind power from four Hoosier plants; six hydro-electric plants; and the Cook Nuclear Plant in Bridgman, Mich. I&M's coal-fueled plant in Rockport will be fully retired in 2028. More than 80% of energy I&M generated in 2022 was carbon-emission free.
The Lake Trout and Mayapple projects are slated to begin construction in fall 2024 and be generating power by spring 2026. Elkhart County and Sculpin are expected to be operational by the end of 2025.
Indiana Michigan Power (I&M) is headquartered in Fort Wayne, and its approximately 2,000 employees serve more than 600,000 customers. More than 80% of its energy delivered in 2022 was emission-free. I&M has at its availability various sources of generation including 2,278 MW of nuclear generation in Michigan, 450 MW of purchased wind generation from Indiana, more than 22 MW of hydro generation in both states and approximately 35 MW of large-scale solar generation in both states. The company's generation portfolio also includes 1,497 MW of coal-fueled generation.
American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP's approximately 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.6 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 6,900 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com
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