AES Indiana, a subsidiary of The AES Corporation (NYSE: AES), closed on the acquisition of the 106 MW Hoosier Wind project, located in Benton County. The Indiana Utility Regulatory Commission (IURC) approved the acquisition from EDF Renewables North America, giving AES Indiana ownership of the asset. Hoosier Wind began supplying power in 2009 under a 20-year power purchase agreement with EDF renewable energy.
This acquisition provides $22.2 million in cost savings to AES Indiana customers over the next 6 years advances efforts to provide sustainable energy solutions and demonstrates AES Indiana’s commitments made in its latest Integrated Resource Plan (IRP) which calls for the addition of 1,300 megawatts (MW) of wind, solar and battery energy storage from new procurements in the next five years.
Hoosier Wind will provide long-term savings to its customers and benefit from lower fuel and maintenance costs. An AES Indiana customer using 1,000 kWh per month will see a decrease of approximately $0.07. Project benefits include risk reduction for the diversification of energy sources and improved environmental and sustainability performance.
“This strategic acquisition advances our investments in renewables and supports our commitment to provide customers with reliable, affordable and sustainable energy solutions,” said Brandi Davis-Handy, President, AES Indiana. “Hoosier Wind is an important contributor toward our portfolio evolution and our promise to deliver 100% clean energy to our customers by 2050.”
Hoosier Wind is located on 6,500 acres of agricultural land in Fowler, Indiana. With 53 wind turbines, the project produces enough power to satisfy 29,000 homes’ needs and reduces CO2 emissions by 286,700 tons per year. Adding Hoosier Wind to AES Indiana’s portfolio as an owned asset supports the company’s on-going capacity needs and strategy to add renewables in AES Indiana’s resource portfolio.
Luis Silva, CFO of EDF Renewables, said, “Hoosier Wind, which was commissioned in 2009, holds the distinction of being our inaugural project in Indiana. We eagerly anticipate exploring further prospects with AES Indiana in the future.”
With the order from the IURC, AES assumed operational responsibilities earlier this year.
In January, AES Indiana received approval from the IURC for the largest stand-alone battery energy storage system in Pike County. These projects continue to advance the company’s commitment to growing and providing sustainable energy solutions.
