NIPSCO and Capital Dynamics Sign 200 MW Solar Energy Build Transfer Agreement

Northern Indiana Public Service Company, LLC (NIPSCO), a subsidiary of NiSource Inc. and the Clean Energy Infrastructure (CEI) business of Capital Dynamics, an independent global private asset management firm, today announced that they have signed a build transfer agreement (BTA) to bring 200 megawatts (MW) of solar energy to Indiana with the Elliot Solar project.

“We are proud to partner with Capital Dynamics on another solar energy project in our home state,” said Mike Hooper, NIPSCO president. “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.”

Located in Gibson County, Indiana, the Elliot Solar project is expected to begin construction in summer 2022 and begin commercial operations in summer 2023. Capital Dynamics will construct the project, and NIPSCO will enter into a joint venture once construction is complete.

“Capital Dynamics is proud to further expand our presence in Indiana and contribute to the state’s on-going energy transition,” said John Breckenridge, Head of Clean Energy Infrastructure at Capital Dynamics. “We applaud NIPSCO for its commitment to providing customers with sustainable energy solutions.”

Elliot Solar adds to NIPSCO’s two operating wind farms as well as 11 renewable energy projects previously announced as part of NiSource’s customer-centric “Your Energy, Your Future” initiative, which includes the generation transition plan at NIPSCO. The NIPSCO projects include a combination of similar joint ventures and power purchase agreements. The company plans to be coal-free by 2028, adding cleaner energy sources to its existing portfolio of natural gas and hydroelectric generation. NIPSCO’s industry-leading generation transition will deliver a more affordable, reliable and sustainable energy mix for NIPSCO customers for years to come – saving customers $4 billion over the long term.