NIPSCO has signed an agreement with private asset management firm Capital Dynamics for a solar energy project in Gibson County. The Elliot Solar project will produce 200 megawatts on its completion, expected in 2023.

The build-transfer agreement involves Capital Dynamics, through its Clean Energy Infastructure business, building the project, with NIPSCO entering into a joint venture to operate it when construction is completed.

"We are proud to partner with Capital Dynamics on another solar energy project in our home state," said Mike Hooper, NIPSCO president, in the company's announcement of the project. "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."

The Elliot Solar project is expected to begin construction in summer 2022.

"Capital Dynamics is proud to further expand our presence in Indiana and contribute to the state's ongoing energy transition," said John Breckenridge, head of Clean Energy Infrastructure at Capital Dynamics.

NIPSCO renewable energy plans include two operating wind farms and 11 other projects previously announced. The NIPSCO projects include a combination of similar joint ventures and power purchase agreements in the company's plan to be coal-free by 2028.

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