AES to Accelerate Exit from Coal
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Virginia-based AES Corp. (NYSE: AEP), the parent of AES Indiana, says it will accelerate the timeline to eliminate the use of coal at its power plants within the next three years. While not specifically mentioning Indiana in its quarterly financial report, the company said it “intends to exit coal by 2025,” creating uncertainty for the two remaining coal-fired units at the Petersburg Generating Station in Pike County.
AES previously announced plans to reduce its generation from coal to less than 10% of total generation by year-end 2025.
In moving-up its departure from coal, the company says it will reach the goal “through a combination of asset sales, fuel conversions and retirements.”
In December 2019, Indianapolis Power & Light, later renamed to AES Indiana, announced plans to retire two coal-fired units at the Petersburg plant, leaving two additional units in operation. The utility said it would seek other power generation sources.
Last August, AES Indiana shared plans to build a solar farm in Pike County that would include 250 megawatts of solar power generation and 180 MW of energy storage in Pike County. The company says the new facilities would connect to the existing Petersburg Generating Station.
You can read more on the AES announcement and the history of the Petersburg Generating Station from the IBJ’s John Russell by clicking here.