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NIPSCO and Capital Dynamics sign build-transfer deal for 200MW solar project
NIPSCO plans to go coal-free by 2028. Image: Joe Passe/Flickr
US utility Northern Indiana Public Service Company (NIPSCO) has signed a deal with asset manager Capital Dynamics’ green energy business to develop a 200MW solar farm in Gibson County, Indiana.
Capital Dynamics has signed a build-transfer agreement for the Elliot Solar project, which the asset manager is set to break ground on next summer. NIPSCO will then enter into a joint venture to take ownership of the project when it comes online in 2023. The utility has already signed a power purchase agreement (PPA) with Capital Dynamics to offtake 100% of energy produced by the Gibson Solar project in southern Indiana, due to also begin commercial operations in 2023.