A subsidiary of EDP Renewables has signed a build-transfer agreement with Northern Indiana Public Service Company (NIPSCO) for the development of a 200MWac solar park in the US state of Indiana.
EDP Renewables North America will carry out development of the Indiana Crossroads Solar Park, which is slated to reach commercial operations by 2022.
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The deal means EDP Renewables, which is majority-owned by Portuguese utility EDP, now has 2.5GW of clean energy capacity secured in the US, a key market for the company’s renewables growth efforts.
A strategic update announced last month by EDP revealed the utility’s plan to move from 74% renewables generation as of today to 100% by 2030, requiring 50GW of clean energy additions. The company is looking to grow its PV capacity tenfold between 2021 and 2025, adding 5.5GW of capacity in North America.
EDP Renewables’ US expansion has seen the developer acquire a majority interest in C2 Omega, the distributed solar platform of renewables investor C2 Energy Capital.
For NIPSCO, the deal follows other recent build-transfer announcements, as the business, a subsidiary of NiSource, aims to increase its clean energy capacity to become coal free by 2028. NIPSCO last October secured an agreement with NextEra Energy Resources to develop 900MW of solar and 135MW of energy storage, while a deal announced last week will see the utility partner with developer Invenergy for the construction of a 250MW PV project.
According to the Solar Energy Industries Association, Indiana has 473MW of solar installed as of the fourth quarter of 2020.
