IBJNews

IPL's $631M power plant to start construction in 2014

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis Power & Light Co. plans to build a $631 million, environmentally friendly power plant near Martinsville as it retires six coal-fired units at the area’s Eagle Valley Generating Station.

Construction of the 650-megawatt plant adjacent to the Eagle Valley station about five miles north of Martinsville is slated to begin in 2014 and finish in 2017, IPL announced Wednesday. The project is expected to employ as many as 660 workers during the construction phase, but only 25 once it begins operation.

IBJ first reported the utility’s plans for the plant on Tuesday. IPL has submitted the plans to the Indiana Utility Regulatory Commission for approval.

Morgan County was one of several area sites in competition to land the plant, IPL officials said. In October, the Morgan County Council approved a 10-year, 60-percent tax abatement package to lure IPL.

The company touted the new plant as an example of clean and efficient energy production. It will use a system that combines two natural gas-fired turbines with one steam turbine, lowering environmental emissions by more than 98 percent over coal-powered plants.

“We considered all of our options during a very extensive and competitive evaluation process,” said IPL CEO Ken Zagzebski in a prepared release. “Building a gas-powered plant is the most affordable and reliable solution for our customers.”

The plant will help replace power lost when IPL eliminates some of its existing infrastructure. The utility plans to retire the six existing units at the Eagle Valley Generating Station in March 2016. The station has a production capacity of 341 megawatts.

IPL also expects to retire or convert four units at Harding Street Generating Station on the southwest side of Indianapolis. Plans are under way to convert Harding Street Generating Units 5 and 6, totaling 200 megawatts, from burning coal to utilizing natural gas to create electricity, IPL said. The project is also subject to IURC approval.

As a result of new federal air quality standards and the projects slated to create cleaner energy, IPL expects customers to see their electricity costs rise 2 to 3 percent per year through 2018.

 

ADVERTISEMENT

  • Think deeper
    It is obvious by your comment that you don't think much further then your next truck payment. Try reading and studying a bit about economics and stop the pity party!
  • Shiver me Timbers
    Jonathan, Perry K may not be pretty but it will be mighty cold at IUPUI, Lilly and most of the office buildings in the mile square if your "eyesore" comes down. Please see the information here and consider yourself schooled. Bu the way, Covanta can only produce 4500 tons of steam to assist on cold days. http://www.i2sl.org/labs21/conference/2009/evening/planttour.html
  • Tax Abatement????
    Why does a Power Company get tax breaks? They already have a monopoly! Hoosiers are good at asking for another while getting bent over. Dumb!!! U think power will be cheaper? NO! Power CEO gets richer, Pence gets donation
    • Downtown
      When can we get rid of the eyesore of a power plant downtown?

      Post a comment to this story

      COMMENTS POLICY
      We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
       
      You are legally responsible for what you post and your anonymity is not guaranteed.
       
      Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
       
      No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
       
      We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
       

      Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

      Sponsored by
      ADVERTISEMENT

      facebook - twitter on Facebook & Twitter

      Follow on TwitterFollow IBJ on Facebook:
      Follow on TwitterFollow IBJ's Tweets on these topics:
       
      Subscribe to IBJ
      1. I keep wondering why I keep hearing about this problem of corporations leaving America, and I never hear a reasonable proposal to lower corporate tax rates and raise personal rates on income from capital gains and dividends, especially for high earners. It is just too simple of a solution for Congress to embrace?

      2. Are you financially down and you need money to settle your dept,or you need money to start up a business or to invest on a huge business,we also offer Loans to individuals, Firms and cooperate bodies at low interest rate , loan terms determinant,Loan amount between the sum of $5,000.00 to $100,000,000.00. US Dollars And Euro. Loan for developing businesses a competitive edge/ business expansion. We Offer The Following Kinds Of Loans. Personal Loans (Secure and Unsecured) Business Loans (Secure and Unsecured) Consolidation Loan FIRST INFORMATIONS NEEDED ARE: BORROWER’S DATA’S INFORMATION,FILL AND RETURN FOR QUICK START UP PROCESS. Name:_________ Last Name:_________ Age:_________ Contact Address:_________ Country:_________ Amount Needed as Loan:_________ Loan Duration:_________ Phone Number__________ Monthly Income/Yearly Income:_________ Purpose for Loan:_________ Occupation:_________ How Soon is Loan Needed__________ Email via: albertbrownfirm@outlook.com

      3. is a disaster. SR37 already needs to be built to interstate standards between 465 and SR144. Southport Road is a mess each morning and evening.

      4. Bass Pro Shops would be good for the mall as well as a Giant Eagle Market District or a Jungle Jim's International Market Place grocery store like the one near Cincinnati Ohio.A Disney quest indoor theme park would be good.An Academy outdoor store would be good too.Indoor Circus shows and magic shows would be good as well. A casino with sports bar would be good.A Disney theater inside that shows movies and Broadway shows would work.Nashville Tennessee concert shops with indoor neon lights would be good.How about a theater that shows travel shows and theme parks. A train store would be good.How about a giant toy store with high tech video games.

      5. This development is in addition to Allpoints Midwest 5, Aitrtek, a recent FedEx and more in Plainfield. Greenwood and Brownsburg also have similar projects.

      ADVERTISEMENT