Indianapolis Power & Light, Sunrise Energy Ventures ink PPA for 30-MW of PV projects
Jul 20, 2012 - US regional utility Indianapolis Power & Light Co (IPL) has signed a power purchase agreement (PPA) for 30 MW of photovoltaic (PV) projects that solar power firm Sunrise Energy Ventures will build in the utility's service area in central Indiana.
Under the agreement, Sunrise Energy Ventures will establish three PV plants of 10 MW each and IPL will purchase the output of the facilities at a fixed price for 15 years. The PPA follows a request for proposals called by the utility for the output of 30 MW capacity from PV, wind and biomass sources, it said.
The PPA needs the approval of the Indiana Utility Regulatory Commission.
IPL added that the projects of Sunrise, along with a 10-MW solar project at the Indianapolis International Airport and other solar projects under development in its service area could bring as much as 70 MW-80 MW of solar power capacity by the end of 2013. The utility also has 300 MW of wind power capacity in its portfolio.