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Indianapolis Power & Light Company to Issue All-Source RFP to Meet Future Electric Needs

Indianapolis Power & Light Company (IPL) announces that Sargent & Lundy will act on IPL’s behalf to facilitate an all-source request for proposals (RFP) to meet future electric needs of our customers and the communities we serve. The RFP, which will be issued Friday, December 20, considers all potential options for replacement generation capacity so IPL can continue to deliver safe, reliable and affordable power to its 500,000 customers.

The need for 200 megawatts of firm capacity resources follows IPL’s recent announcement to retire two coal-fired units at Petersburg Generating Station in 2021 and 2023, respectively. At a public advisory meeting held December 9, IPL leaders presented the Company’s preferred portfolio and demonstrated how IPL plans to continue to diversify its generation mix, with the expected integration of additional renewable resources, while continuing to deliver electricity at reliable, cost-effective rates. IPL submitted its 2019 integrated resource plan to the Indiana Utility Regulatory Commission (IURC) on Monday, December 16. The projected capacity shortfall, modeling assumptions and key drivers are outlined in IPL’s IRP, which is a 20-year projection submitted to the IURC every three years.

"Our 2019 integrated resource plan takes a balanced approach to delivering reliable, affordable and cleaner energy to our customers during a time of rapid change in the energy industry," said Vince Parisi, IPL president and CEO. "The Company’s preferred portfolio gives us a path to replace approximately 200 megawatts of generation capacity while maintaining flexibility, should future market conditions change. We’re asking bidders to bring us their most cost competitive options that meet the needs and expectations of our customers and communities."

The purpose of the all-source RFP is to competitively procure replacement capacity by June 1, 2023, which is the first time period IPL is expected to have a capacity shortfall. The IRP modeling and preferred portfolio indicate a combination of energy efficiency, solar, storage and wind are the lowest cost options for replacement capacity, but IPL will assess the type, size and location of potential resources of all bids that meet the minimum criteria.

IPL’s current energy mix includes generation from natural gas, coal, solar, wind, customer-owned renewable generation, demand response, energy efficiency and other market purchased power. Bid submissions are due by 5 p.m. CT, February 28, 2020. Additional information is available online at IPLpower.com/RFP. For additional information regarding the process, please contact Sargent & Lundy directly at IPL-ASRFP@sargentlundy.com.

About Indianapolis Power & Light Company and AES

Indianapolis Power & Light Company (IPL), an AES Company, provides retail electric service to more than 500,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, IPL has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please visit www.IPLpower.com or connect with us at www.twitter.com/IPLpower, www.facebook.com/IPLpower or www.linkedin.com/company/IPLpower.

The AES Corporation (NYSE: AES) is a Fortune 500 global power company. We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world’s changing power needs. Our 2018 revenues were $11 billion, and we own and manage $33 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.

About Sargent & Lundy

Sargent & Lundy is one of the oldest and most experienced full-service architecture/engineering firms in the world. Founded in 1891, the firm is a global leader in power and energy with expertise in grid modernization, renewable energy, energy storage, nuclear power, and fossil fuels. Sargent & Lundy delivers comprehensive project services—from consulting, design and implementation to construction management, commissioning and operations/maintenance—with an emphasis on quality and safety. The firm serves public and private sector clients in the power and energy, gas distribution, industrial and government sectors. Learn more at www.sargentlundy.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191219005833/en/

Contacts

Media Contacts:
Courtney Arango
Indianapolis Power & Light Company
317.220.1501
courtney.arango@aes.com

Brenda Romero
Sargent & Lundy
312.269.2137
brenda.l.romero@sargentlundy.com