INDIANAPOLIS, In. June 5, 2015 — Indianapolis Power & Light Company (IPL), a subsidiary of The AES Corporation (NYSE: AES), today announced it is developing grid-scale battery-based energy storage to improve reliability and lower costs for its customers. The IPL facility will provide 20 MW of interconnected advanced, battery-based energy storage, equivalent to 40 MW of flexible resource to the electric grid. This will be the first grid-scale energy storage array in the 15 state Midcontinent Independent System Operator (MISO) grid system. The battery storage facility will deliver enhanced grid reliability and ancillary services, including peak power supply. It will also more efficiently balance supply and demand on the electric grid, resulting in cost savings for our customers.
“We are pleased to be able to bring the benefits of energy storage to our customers,” said Kelly Huntington, IPL President and CEO. “Energy storage is a smart way to cost-effectively address a number of grid challenges including variability of energy supply and demand, while also improving the reliability of the grid.”
IPL received approval yesterday from the Metropolitan Development Commission for a 10-year abatement of personal property tax to locate the facility in Marion County. This will save IPL customers almost $3.1 million during the abatement period.
“Indianapolis Power & Light Company continues to lead the charge in bringing innovative alternative energy solutions to our market and the development of this battery storage hub is just the latest example,” said Michael Huber, Indy Chamber President and CEO. “Supporting the advancement of these energy alternatives is important for the competitiveness of our region and the sustained energy reliability our business community relies upon.”
IPL’s parent company, AES, is a leader in grid-scale energy storage. Globally, AES has 86 MW of energy storage projects in operation and has announced 260 MW of interconnected battery-based storage, equivalent to 520 MW of flexible power resource, in construction or late-stage development.
Construction on this energy storage array will begin this summer and is scheduled to be in-service in June 2016. The facility will be located at the Harding Street Generation Station on the southwest side of Indianapolis.
About Indianapolis Power & Light Company and AES
Indianapolis Power & Light Company (IPL), an AES Company, provides retail electric service to more than 480,000 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 200 global power company. We provide affordable, sustainable energy to 18 countries through a diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 18,500 people is committed to operational excellence and meeting the world’s changing power needs. AES’ 2014 revenues were $17 billion, and we own and manage $39 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.