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IPL begins construction on $600M power plant

September 6, 2014

Indianapolis Power & Light Co. broke ground Sept. 4 on a $600 million power station near Martinsville.

IPL says the plant, adjacent to the Eagle Valley Generating Station, will generate 671 megawatts of electricity more efficiently and with fewer emissions than the retiring coal-fired plant.

Construction of the plant is expected to employ as many as 660 workers. Morgan County will abate IPL’s property taxes for 10 years.

IPL is building a combined-cycle turbine, which combines two natural-gas-fired turbines with one steam turbine, lowering environmental emissions more than 98 percent over coal-powered plants.

IPL plans to retire the six existing units at Eagle Valley in March 2016.

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