Wabash Valley Power, the wholesale electric supplier to 19 Indiana not-for-profit electric cooperatives, has committed to purchase 100 percent of the energy produced by the proposed 199-megawatt Speedway Solar project in Shelby County, Ind. When completed, it will be one of the largest solar developments in the state, generating enough power to serve approximately 35,000 households throughout Indiana, including cooperative members in nearby Rush and Hancock Counties.
Effective through 2057, the agreement is between Wabash Valley Power and Speedway Solar’s facility developer Ranger Power, which expects to begin the project in 2019, pending local approvals.
“Opportunities like the Speedway project don’t come along every day,” noted Wabash Valley Executive Vice President of Risk & Resource, Lee Wilmes. “A 35-year, fixed price contract with no risk of fuel escalation is an impactful addition to our power supply mix and enables us to take one more step in reducing the carbon footprint of our total energy portfolio.”
The price of utility-scale solar energy has declined in recent years, making it economically-competitive with more traditional fuel sources. In 2017, Wabash Valley successfully partnered with Ranger Power on two large arrays in the state of Illinois.
“We are excited about the opportunity to partner with Wabash Valley to provide cost effective power to Hoosiers throughout Indiana,” Ranger Power CEO Adam Cohen said. “We are working diligently to gain the necessary approvals for this transformational project which will position Shelby County to be a state leader in green energy development.”
About Wabash Valley Power
Founded in 1963, Wabash Valley Power is an Indianapolis-based, not-for-profit generation and transmission cooperative. Wabash Valley provides wholesale electricity to 23 distribution cooperatives serving primarily rural areas of Indiana, Illinois and Missouri.
About Speedway Solar
Speedway Solar is a project developed by Ranger Power, which is a solar energy company committed to working closely with landowners and communities to bring new investment and clean energy throughout the Midwest.