Dear IndianaDG Blog readers:
I think we are all trying to digest the impact of this announcement by IPL. You might also be interested in the Distribution of Bids IPL received from this reverse auction. See IPL Reverse Auction-Distribution of Bids.
CONGRATULATIONS TO SUNRISE ENERGY VENTURES!
Laura Ann Arnold
Download a copy of News Release HERE: Indianapolis Power Light awards solar power projects (2)_letterhead
FOR IMMEDIATE RELEASE July 19, 2012
Contact:
Brad Riley
Indianapolis Power & Light Company
(317) 261-8093, pager (317) 393-7584
brad.riley@aes.com
Indianapolis could lead all Midwest utilities in solar power generation by end of 2013
Indianapolis – Solar power will grow by another 30 megawatts (MW) in Indianapolis, as Indianapolis Power & Light Company (IPL) announces today that it is awarding Sunrise Energy Ventures the opportunity to furnish solar power at three 10 MW sites in the IPL service territory. The power generated at the Sunrise sites would be purchased by IPL at a fixed price for 15 years, subject to approval by the Indiana Utility Regulatory Commission.
In an effort to have a more diversified portfolio of power generation resources, IPL issued a request for offers inviting companies to submit bids for up to 30 MW of renewable energy via a "reverse auction" favoring lowest rates. Qualifying renewable energy sources matched those outlined by the Renewable Energy Production (REP) program, including solar photovoltaic (PV), wind and bio-mass.
"IPL's interest in solar energy is part of our commitment to a more diversified portfolio of power generation that includes appropriate renewable sources that allow us to provide safe, reliable energy at some of the most affordable residential prices in the nation," said Ken Zagzebski, IPL's President and CEO.
In addition to the planned Sunrise projects, a 60-acre 10 MW solar project at the west end of the Indianapolis International Airport plus other pending solar projects in the Indianapolis area under development could net as much as 70-80 MW of solar energy by the end of 2013. As a result, IPL could lead all Midwest utilities in the amount of solar power generated in their service territory, according to Solar Electric Power Association's 2011 utility solar rankings.
In addition to solar, IPL also maintains 300 MW of wind power in its portfolio.
About Indianapolis Power & Light Company (IPL): Indianapolis Power & Light Company provides retail electric service to more than 470,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, IPL has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please visit www.IPLpower.com.
About Sunrise Energy Ventures: Sunrise Energy Ventures (SEV) develops, owns and operates commercial to industrial scale solar photovoltaic (PV) equipment. SEV uses beneficial tax incentives (state and federal tax credits and accelerated depreciation) and utility production incentives to provide a revenue stream to its customers. SEV has a range of opportunities and will construct a custom program based on client-specific needs and desires.
SEV develops systems that can either send energy directly to a source of on-site consumption, directly to the utility, or a combination of both. Typically energy used on-site is done so through a netmetering arrangement with the utility, allowing for excess generation to be distributed back to the grid if necessary. SEV typically uses fixed multi-year standard utility programs to mitigate risk to its customers. For more information about the company, please visit www.sunriseenergyventures.com.