Northern Indiana Public Service Co. LLC (NIPSCO) says its first two Indiana-based wind projects – Rosewater Wind and Jordan Creek Wind – are online and operating.
“We are excited to welcome these wind assets to our generating portfolio,” says Mike Hooper, president of NIPSCO. “These completed projects are the first concrete step of our ‘Your Energy, Your Future‘ plan coming to fruition, bringing sustainable energy to our customers today and into the future.”
Rosewater Wind Farm is a 102 MW facility located in White County, Ind. EDP Renewables North America LLC developed and built the project. The wind farm is owned and operated by a joint venture consisting of NIPSCO, the developer of the facility and a tax equity investor.
The Rosewater Wind Farm was funded through tax equity investing. By using a tax equity investor that is currently able to utilize the tax benefits more efficiently, NIPSCO is able to provide electricity to customers at a lower cost versus traditional ownership. This use of a tax equity structure is a first in Indiana and one of the earliest examples of a utility engaging in such a structure in the country.
The Jordan Creek Wind Energy Center is a 400 MW wind farm located in Benton and Warren counties, near Williamsport, Ind. A subsidiary of NextEra Energy Resources LLC built the facility and will be the owner and operator. The energy will serve NIPSCO customers under a 20-year power purchase agreement. The completed wind projects were selected through a request for proposal (RFP) solicitation that NIPSCO ran as part of its “Your Energy, Your Future” generation transition, which was announced in its 2018 Integrated Resource Plan (IRP).
Eight additional renewable projects are set to be included in NIPSCO’s generating portfolio, which include a combination of similar joint venture agreements and power purchase agreements. One project is currently in the construction phase while the rest are expected to begin construction in the next year or two.