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Learn about Indiana Municipal Power Agency Investor Relations, including Featured News, IMPA's Power Supply System, and IMPA Senior Management.
The Indiana Municipal Power Agency (IMPA) is a wholesale electric power provider serving the needs of 61 cities and towns in Indiana and Ohio.
IMPA was formed so its member utilities could share power resources, allowing cities and towns to provide electricity more economically to their customers. The Agency began operations as a “joint action agency” in 1983 with 26 members. As individual utilities, IMPA members had limited access to power supply options. By purchasing power from IMPA, instead of purchasing or generating it themselves, IMPA members found they could have a more reliable power supply, save money and keep electric costs as low as possible.
IMPA is governed by its members. Member utilities purchase their total power requirements from IMPA and deliver that power to the residents and companies in their service territories. Altogether, IMPA members deliver electric service to over 330,000 individuals throughout Indiana and Ohio.
IMPA’s diverse power portfolio consists of primarily the Agency’s own generating capacity and some purchased power. IMPA’s active management of power costs and service quality has made it into one of the country's most competitive power providers.
CARMEL, IN – On December 11, 2020 the Indiana Municipal Power Agency’s (“IMPA”) Board of Commissioners authorized IMPA to refund $12,845,000 of the Agency’s Power Supply System Refunding Revenue Bonds, 2010 Series B (the “2010 B Bonds”). The 2010 B Bonds that are scheduled to mature on January 1, 2022 ($6,265,000) and 2023 ($6,580,000) will be called on January 14, 2021. IMPA is not issuing new bonds to refund the 2010 B Bonds. The interest rate on the 2010 B Bonds is 5%. IMPA expects to save approximately $950,000 as a result of the refunding.
“For over 35 years, IMPA has provided a low-cost, reliable, and environmentally-responsible power supply,” commented Raj Rao, IMPA President and CEO. “This refunding is another opportunity to bring cost savings to member communities and the retail customers they serve.”
For more information about IMPA and IMPA’s financial position, visit www.impa.com/financial
Agreement brings affordable clean energy to 61 cities and towns throughout Indiana and Ohio
NEW YORK and CARMEL, IN – February 3, 2020: Capital Dynamics, an independent global private asset management firm, today announced that its Clean Energy Infrastructure (CEI) business has signed a longterm Power Purchase Agreement (PPA) with Indiana Municipal Power Agency (IMPA) in coordination with Tenaska. Under the terms of the PPA, IMPA will purchase 100MWac of the power generated by a CEI-owned greenfield solar project located in Indiana.
The solar project is one of 14 projects that Capital Dynamics acquired from Tenaska in November 2018. The project, which Tenaska continues to oversee preconstruction, is located on approximately 1,200 acres in southern Indiana and is currently in development stage. Construction is expected to finish and reach commercial operations in the second half of 2022.
“This agreement with IMPA strengthens our presence in the Midcontinent Independent System Operator (MISO) market and demonstrates our long-term commitment to helping the region reach its renewable power goals,” said Benoit Allehaut, Managing Director on Capital Dynamics’ Clean Energy Infrastructure team. “Tenaska was a crucial partner in finalizing the agreement and brought significant expertise through all elements of development phase. Together, this project is a part of our larger goal to foster the development of a solar-dominant culture throughout the Midwest.”
“We are excited to see Tenaska’s relationship with Capital Dynamics yield strong results with the signing of this PPA,” said Steve Johnson, senior vice president and leader of Tenaska Solar Ventures, the company’s solar development business. “This was our intent when we started doing business together. We are eager to finish development of this project in Indiana and bring it to construction.”
“We are honored to collaborate with Capital Dynamics and Tenaska on this project,” said IMPA President and CEO Raj Rao. “We are confident the solar project will meet the long-term power needs of our members and their customers, and we’re grateful for their contribution to making it happen.”
IMPA has developed and takes power from 21 solar parks in IMPA Member communities with a total capacity of approximately 53 MW (the “IMPA Solar Parks”). Ranging in size from .25 MW to 8 MW, these environmentally-responsible resources mark the addition of solar as a renewable energy resource in IMPA's power supply portfolio. IMPA developed solar parks in the communities of Advance (.24 MW), Anderson (5 MW and 8 MW), Argos (.7 MW), Bainbridge (.3 MW), Crawfordsville (3 MW), Flora (0.81 MW), Frankton (1 MW), Greenfield (2.84 MW), Huntingburg (2MW), Pendleton (2 MW), Peru (3 MW), Rensselaer (1 MW and 3.8 MW), Richmond (1 MW and 7.4 MW), Spiceland (.53 MW), Tell City (1 MW), Tipton (5.2 MW), Washington (4 MW) and Waynetown (.25MW). Several of the parks feature single axis tracking systems, allowing the panels to move and track the sun throughout the day, while other parks rely on fixed tilt panels.
IMPA’s current target is to build a total of 200 MW of solar generation. In addition to the 53 MW currently in operation, IMPA plans to construct an additional 16 solar parks with an expected additional capacity of 83 MW during 2019, 2020 and 2021, with the remaining 64 MW of solar generation to be constructed thereafter.
Data for each of the solar parks is available at Solar Parks.
Gibson Unit 5 is a 625 MW coal-fired baseload generating facility located in southwestern Indiana. The unit was placed in service in 1982 and relies on high sulfur coal supplies predominantly from southern Indiana. Coal for Gibson Unit 5 is delivered to the plant by rail and truck and is purchased from several suppliers under contracts with varying terms.
Gibson Unit 5 is equipped with sulfur dioxide (“SO2”) and nitrogen oxide (“NOX”) removal facilities and burns high sulfur coal that is predominantly from southern Indiana. Gibson Unit 5 installed a selective catalytic reduction system (“SCR”) for NOX control, upgraded its flue gas desulfurization system (the “FGD” system) to increase SO2 removal efficiency. Gibson Unit 5 upgraded the unit’s electrostatic precipitator, added calcium bromide injection equipment, made certain duct modifications and added additional monitoring equipment in order to comply with the Mercury and Air Toxics Standards. with particulate, sulfur dioxide (SO2) and nitrogen oxide (NOX) removal facilities. Installation of a Selective Catalytic Reduction (SCR) system for NOXcontrol was completed in 2004, and in 2008, Gibson Unit 5 upgraded its flue gas desulfurization system to increase SO2 removal efficiency.
IMPA has a 24.95% ownership interest, or approximately 156 MW, in Gibson Unit 5, which it jointly owns with Duke Energy and the Wabash Valley Power Association.
IMPA has seven wholly-owned combustion turbines and associated facilities aggregating 419 MW. The Combustion Turbines include two 41 MW units, placed in service in 1992 and one 85 MW unit placed in service in 2004 located in Anderson, Indiana; two 41 MW units, placed in service in 1992 located near Richmond, Indiana; and two 85 MW units, acquired by IMPA in 2004, located in Indianapolis, Indiana. IMPA employees operate and maintain the combustion turbines located in Anderson and Richmond. The Georgetown Plant is currently operated and maintained by Indianapolis Power & Light Company.
The Anderson and Richmond Combustion Turbines operate primarily on natural gas, which is delivered under an interruptible transportation contract with Vectren. This contract gives IMPA the option to obtain its own gas supplies with local distribution supplied by Vectren. The Anderson and Richmond Combustion Turbines also maintain an inventory of No. 2 fuel oil as an alternative fuel in the event of interruptions in natural gas supply, or as an economic option. The Georgetown Plant operates solely on natural gas, which is delivered pursuant to a capacity reservation and gas transportation agreement with Citizens Gas. Natural gas used to operate the Combustion Turbines is purchased at market prices.
The Prairie State Energy Campus includes a pulverized coal-fired generating station and associated mine, rail, water, coal combustion waste storage and ancillary support that is located in Washington and Randolph Counties in southwest Illinois. The generating station consists of two supercritical units with a nominal net output capacity of 815 MW each. IMPA’s 12.64% undivided ownership interest in Prairie State is approximately 206 MW.
The Prairie State Energy Campus is situated adjacent to underground coal reserves owned by the Prairie State Participants. The coal mine is expected to supply all the fuel for Prairie State for approximately 30 years. Prairie State is among the cleanest coal burning plants in the United States. The plant utilizes state-of-the-art control technologies including low NOx burner controls, SCR for NOx removal, dry electrostatic precipitators, wet flue gas desulfurization and wet electrostatic precipitators.