IPL to invest $511 million in environmental controls

Indianapolis Power & Light Company, or IPL, a provider of retail electric services, has announced plans to invest $511 million in new environmental controls at its Petersburg and Harding Street coal-fired power generating plants.

The expenditure is part of IPL's plans to comply with new Utility Mercury and Air Toxic Standards (MATS) set by the EPA. The new controls are expected to reduce mercury emissions by approximately 80%. In addition to reducing emissions, the project will lead to new construction jobs for the next three years, the company said.

As a part of this expenditure, IPL has executed a $420 million contract with Indiana Environmental Partners (IEP) for engineering, procurement and construction of the new controls.

"This is an important step to further reduce air emissions from our plants and will allow us to meet new EPA standards while continuing to provide our customers with safe, reliable and affordable power," said IPL CEO Ken Zagzebski. "IPL currently meets all EPA requirements, and in the past 10 years, we have invested more than $600 million in environmental controls that have reduced emissions dramatically."