Customers have received nearly $60 million in direct benefits to date from credits associated with the sale of excess energy generated by NIPSCO’s renewable energy
In the next step of its electric generation transition to a more balanced and reliable mix to serve customers, Northern Indiana Public Service Company LLC (NIPSCO), a subsidiary of NiSource Inc. (NYSE: NI), today announced that its first two Indiana-based solar projects – Indiana Crossroads and Dunns Bridge I Solar – are online and operating, producing more cost-effective, cleaner energy for homes and businesses across Indiana.
“The addition of our first solar parks to our electric generating portfolio represent meaningful investments in the state of Indiana and a direct benefit to our customers,” said Mike Hooper, NIPSCO President. “These completed projects are a crucial step in advancing our long-term energy transition plan, providing sustainable, reliable and cost-effective energy now and into the future.”
Indiana Crossroads Solar is a 200-megawatt (MW) facility located in White County, Ind., which was developed and constructed by EDP Renewables North America (EDPR NA). Indiana Crossroads Solar will be a major economic boon to the state and to White County bringing $2.6 million in Economic Development Agreement funds that are available for the county to use for priority projects and other special projects. The solar park is also expected to contribute more than $42 million in property tax payments over the 35-year life of the project, helping to reduce the property tax burden on other families and businesses in White County.
“We are pleased to have completed the Indiana Crossroads Solar Park, which is one of five renewable energy projects EDP Renewables and NIPSCO have collaborated on in Indiana,” said Sandhya Ganapathy, EDP Renewables North America Chief Executive Officer. “Indiana Crossroads Solar is a shining example of how clean energy projects bring investment and economic benefits to Hoosier communities and the state of Indiana while contributing to the energy transition.”
Dunns Bridge I Solar is a 265 MW facility located in Jasper County, Ind. near NIPSCO’s R.M. Schahfer Generating Station, which is expected to be retired in 2025. This facility is the first of a two-part solar project. Dunns Bridge II, located in Jasper and Starke counties and currently under construction, is expected to produce 435 MW of solar paired with 75 MW of battery storage. Dunns Bridge I & II are expected to generate approximately $59 million in additional tax revenue for Jasper and Starke counties over the life of the facility. Learn more about Dunns Bridge I & II at www.DunnsBridgeSolar.com.
Both the Dunns Bridge I and Indiana Crossroads solar projects are partially funded through tax equity investments. By using a tax equity investor that is currently able to utilize the tax benefits more efficiently, along with utilizing tax benefits afforded under the Inflation Reduction Act, NIPSCO is able to provide electricity to customers at a lower cost versus traditional ownership of the projects. NIPSCO evaluates the most efficient use of tax benefits on a project-by-project basis.
NIPSCO’s electric generation transition toward a more balanced and reliable portfolio* – including its plans to retire all its remaining coal-fired units – is driven by real-world data and economics derived from Indiana’s Integrated Resource Plan process and subsequent request for proposals (RFPs). NIPSCO has also performed ongoing analysis of current market conditions and changes in market rules, which support NIPSCO’s current generation transition path. The company plans to be coal-free by 2028, driving a reduction in carbon emissions by more than 90% by 2030, compared to a 2005 baseline.
NIPSCO’s in-service wind projects are performing well, and 100 percent of the excess power sales and renewable energy credit (REC) sales from these existing renewable projects and our existing generation fleet currently goes back to customers, which is nearly $60 million since 2021.
Renewable Project Profile List
The list of projects below was selected following a comprehensive review of bids submitted through all-source RFP processes, and they represent projects that are currently operational or under construction.
- Rosewater Wind Farm – 102 MW of wind, located in White County, Indiana (Complete)
- Jordan Creek Wind – 400 MW of wind, located in Benton and Warren counties, Indiana (Complete)
- Indiana Crossroads I Wind – 300 MW of wind, located in White County, Indiana (Complete)
- Dunns Bridge Solar I – 265 MW of solar, located in Jasper County, Indiana (Complete)
- Indiana Crossroads Solar – 200 MW of solar, located in White County, Indiana (Complete)
- Indiana Crossroads II Wind – 204 MW of wind, located in White County, Indiana (2023)
- Dunns Bridge Solar II – 435 MW of solar and 75 MW of battery storage, located in Jasper and Starke counties, Indiana (2024)
- Cavalry Solar – 200 MW of solar and 60 MW of battery storage, located in White County, Indiana (2024)
- Fairbanks Solar – 250 MW of solar, located in Sullivan County, Indiana (2025)
As previously announced, NIPSCO is working with developers on other wind, solar and battery storage projects in various stages of development. For those projects not already approved, NIPSCO has requested to add those projects to its supply portfolio in filings with the Indiana Utility Regulatory Commission (IURC).
Learn about NIPSCO’s “Your Energy, Your Future” plans and the latest information at NIPSCO.com/future.
*NIPSCO may sell in the future and has previously sold the Renewable Energy Credits from this generation to a third party because this helps keep our energy more affordable for our customers.