Indiana Michigan Power (I&M) has submitted an Integrated Resource Plan (IRP) which includes the addition of more than 2GW of solar and wind by 2028 to the Indiana Utility Regulatory Commission (IURC).
A subsidiary of investor-owned utility American Electric Power (AEP), I&M’s Powering the Next Tomorrow plan will see it issue a Request for Proposals (RFP) in the “coming months” for roughly 500MW of solar and 800MW of wind, with half of those resources aiming to come online by 2025 and the remainder by 2026.
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It said a “second RFP is planned for later” that will seek proposals for an additional 800MW of solar and 60MW of battery energy storage systems (BESS).
“Together, the new resources would more than quadruple I&M’s current solar and wind generation,” the company said in a statement.
It will also tender for 1GW of gas peaking units by 2028. The peaker units “are expected to be the most cost-effective, reliable source of additional power”, I&M said, adding they would only be used during peak demand periods. The company said 85% its energy in 2020 was carbon-emission free.
Under IURC rules, I&M is required to submit a 20-year plan to every three years. Powering the Next Tomorrow was developed during 2021 and “included five meetings with stakeholders representing a variety of interests,” I&M said.
Ohio-based AEP also is one of the US’ largest electricity producers with roughly 31GW of generating capacity, including more than 5.9GW of renewables. It plans to grow its renewable generation portfolio to approximately 50% of total capacity by 2030.