Benzinga | Jun 16, 2021 02:26PM EDT

AES Says Indiana Utility Regulatory Commission Approves Co Agreement To Acquire 195-Megawatt Solar Project In Clinton County

AES Indiana, a subsidiary of the AES Corporation (NYSE: AES), received an order today from the Indiana Utility Regulatory Commission (IURC) approving the Company's plan to acquire the Hardy Hills 195-megawatt solar project in Clinton County, Ind. This is the next step in AES Indiana's transformation to deliver greener, smarter energy solutions.

"This is an important moment for AES Indiana which advances our investments in renewables here in the state," said Kristina Lund, AES Indiana President and CEO. "We are accelerating the future of energy by diversifying our portfolio to include renewables and conventional fuel sources and prioritizing major investments to modernize our energy grid."

Construction on the project is expected to begin in the fall of 2021 and reach commercial operation in 2023. The project will generate enough electricity to power more than 30,000 homes during peak hours.

AES Indiana's most recent Integrated Resource Plan (IRP) indicates that solar projects such as Hardy Hills will provide long-term savings to our customers. Customers will experience benefits such as lower fuel and maintenance costs, risk reduction from the diversification of energy sources, and improved environmental and sustainability performance.

"The Hardy Hills solar project is an example of how AES Indiana's investments in new technologies can help our customers achieve their most important objectives, including reliability, affordability and sustainability," said Lund.

An extensive process which included an all-source request for proposals led AES Indiana to Chicago-based Invenergy, a leading global developer and operator of sustainable energy solutions. Invenergy will develop the project and manage construction. This project is expected to create 200 temporary construction jobs and provide landowners in the area lasting economic benefits.