IPL Leaders Officially Open One of the Cleanest, Most Efficient Natural Gas Power Plants

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.

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IPL leaders and Indiana officials ceremoniously cut the ribbon on IPL’s new Combined-Cycle Gas Turbine (CCGT) natural gas power plant at its Eagle Valley Generating Station in Martinsville, Indiana. Pictured from left to right: Indiana Secretary of Commerce Jim Schellinger, Mayor of Martinsville Shannon Kohl, IPL Board Chairman Ken Zagzebski, IPL CCGT Plant Manager Kevin Cook, IPL President and CEO Craig Jackson, CDPQ Representative and IPL Board Member Renaud Faucher, and Senior Vice President of North, Central and South America at McDermott Richard Heo. (Photo: Business Wire)

“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.

About Indianapolis Power & Light Company and AES

Indianapolis Power & Light Company (IPL), an AES Company, provides
retail electric service to more than 490,000 residential, commercial and
industrial customers in Indianapolis, as well as portions of other
Central Indiana communities surrounding Marion County. During its long
history, IPL has supplied its customers with some of the lowest-cost,
most reliable power in the country. For more information about the
company, please visit www.IPLpower.com
or connect with us at www.twitter.com/IPLpower,
www.facebook.com/IPLpower
or www.linkedin.com/company/IPLpower.

The AES Corporation (NYSE: AES) is a Fortune 500 global power
company. We provide affordable, sustainable energy to 15 countries
through our diverse portfolio of distribution businesses as well as
thermal and renewable generation facilities. Our workforce is committed
to operational excellence and meeting the world’s changing power
needs. Our 2017 revenues were $11 billion and we own and manage $33
billion in total assets. To learn more, please visit www.aes.com.
Follow AES on Twitter @TheAESCorp.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005803/en/

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