Capital Dynamics Signs PPA for 100 MW Solar Power in Indiana

Capital Dynamics has signed a long-term PPA with Indiana Municipal Power Agency (IMPA) for it to purchase 100 MW solar power.

Capital Dynamics, an independent global private asset management firm, has announced that its Clean Energy Infrastructure (CEI) business has signed a long-term Power Purchase Agreement (PPA) with Indiana Municipal Power Agency (IMPA) in coordination with Tenaska. Under the terms of the PPA, IMPA will purchase 100 MW of the power generated by a CEI-owned greenfield solar project located in Indiana.

The solar project is one of 14 projects that Capital Dynamics acquired from Tenaska in November 2018.  The project, which Tenaska continues to oversee pre-construction, is located on approximately 1,200 acres in southern Indiana and is currently in the development stage. Construction is expected to finish and reach commercial operations in the second half of 2022. 

“This agreement with IMPA strengthens our presence in the Mid-continent Independent System Operator (MISO) market and demonstrates our long-term commitment to helping the region reach its renewable power goals,” said Benoit Allehaut, managing director of Capital Dynamics’ Clean Energy Infrastructure team. “Tenaska was a crucial partner in finalizing the agreement and brought significant expertise through all elements of the development phase. Together, this project is a part of our larger goal to foster the development of a solar-dominant culture throughout the Midwest.”

The Indiana Municipal Power Agency is the not-for-profit wholesale power provider to 61 cities and towns across Indiana and Ohio who own and operate the municipal electric distribution systems in their communities.

IMPA President and CEO Raj Rao said “we are confident the solar project will meet the long-term power needs of our members and their customers, and we’re grateful for their contribution to making it happen.”

Recently, we had reported that Capital Dynamics through CEI had entered into a development partnership with 8minute Solar Energy through the equity financing and acquisition of the Eland Solar & Storage Center, a 400 MW solar and storage center project located in Kern County, California. The project features a 300MW/1200 MWh energy storage facility, making it one of the largest in the world and the record low-cost for this type of facility.