Indiana Michigan Power (I&M), an American Electric Power (Nasdaq: AEP) company, recently filed plans with the Indiana Utility Regulatory Commission (IURC) seeking approval to enter into power purchase agreements (PPA) for over 570 megawatts (MW) of wind generation. This proposal supports I&M's continued efforts to meet the growing energy needs of its customers.
The addition of diverse generation, including wind, is one component of I&M’s Future Ready Integrated Resource Plan, previously submitted to the IURC in March. This plan details the resources needed to provide I&M customers with reliable and affordable power as energy demand increases into the future.
"By diversifying our generation mix, I&M is able to provide safe and reliable service to our customers and continue making a significant impact on the communities we serve," said Steve Baker, I&M president and chief operating officer. "The addition of diverse, renewable resources, like wind, is an important step in being Future Ready to serve customers’ homes, businesses and factories now and into the future.”
I&M will purchase the power generated from five independently owned and operated wind power plants located in Indiana and Illinois, totaling approximately 575 MW. If approved, the additional wind PPA resources would complement I&M's current PPAs from four Indiana wind farms, which account for about 450 MW of generation.
Increasing renewable generation is one part of I&M’s Future Ready Plan. These new projects not only benefit current customers, but also create economic development opportunities in Northeast Indiana by attracting new investment and jobs from companies seeking diverse energy sources.
I&M is in the process of a major generation transition, supporting a diverse mix of resources to power customers' homes and businesses. This mix includes five solar and four wind farms, six hydroelectric plants, D.C. Cook Nuclear Plant in Bridgman, Mich. and Rockport Coal Plant in Spencer County, Ind. The coal-fueled Rockport Plant is planned to be retired by the end of 2028.
As the company looks ahead, power demand is expected to more than double the Indiana peak load from approximately 2,800 MW in 2024 to more than 7,000 MW by approximately 2030. The rapid growth in energy demand combined with its generation transformation provides an opportunity for I&M to use an "all of the above" strategy to reshape the way it serves current customers and customers decades into the future.
I&M be making additional filings with the IURC throughout 2025 to request approval for specific resources that are consistent with the Future Ready Plan. I&M expects new resources will start to be available to serve customers in 2026.
For more information on I&M’s Future Ready Plan, visite nuestro sitio web.