IPL Opens One of Cleanest, Most-Efficient Natural Gas Power Plants

INDIANAPOLIS (July 10, 2018) — Indianapolis Power & Light Company (IPL), a subsidiary of The AES Corporation (NYSE: AES), celebrated the commercial operation of its Combined-Cycle Gas Turbine (CCGT) natural gas power plant located at the Eagle Valley Generating Station today in Martinsville, Indiana. This state-of-the-art power plant provides cleaner, more reliable, and efficient energy at a reasonable cost to customers.

“IPL is committed to developing and implementing energy solutions that balance affordability for our customers and the impact on the environment,” said Craig Jackson, IPL President and CEO. “This natural gas plant has enabled IPL to significantly reduce its dependence on coal while still delivering safe, reliable, and sustainable energy for our customers.”

The CCGT natural gas plant is one of the cleanest power plants ever to be built. It is nearly twice as efficient and will reduce the rate of key emissions by 98 percent compared to the coal and oil fired units it replaced. Water use and wastewater generation will significantly reduce as well.

“Energy reliability is an important factor in maintaining Indiana’s current economic momentum,” said Indiana Secretary of Commerce Jim Schellinger. “We’re excited to join AES and IPL in celebrating its new state-of-the-art natural gas power plant in Martinsville and are grateful for their continued commitment to the community and throughout the state of Indiana.”

IPL received approval in 2014 from the Indiana Utility Regulatory Commission (IURC) to invest approximately $600 million to build the natural gas plant. This project, along with the conversion of coal-fired units to natural gas at IPL’s Harding Street Station in 2016, makes natural gas IPL’s largest source of generating capacity.

For more information about the benefits of IPL’s new natural gas plant, visit IPLpower.com/CCGT.