Hoosier Solar Holdings is developing 1,600 MW of solar projects in economically distressed, rural communities across Indiana that have been designated as “Qualified Opportunity Zones.”
Several solar and battery storage projects are currently in active development, and some of these projects are expected to be operational by 2023.
“Indiana has a unique opportunity to take advantage of solar power and battery storage technology to deliver reliable, low-cost power to serve the needs of residential and industrial customers,” said Paul Mitchell, CEO of Energy Systems Network, an Indianapolis-based partner of Hoosier Solar. “Importantly, we can attract investment capital to support development in economically distressed rural communities that have been designated as ‘Opportunity Zones’ by Gov. Eric Holcomb.”
Indiana’s 156 Opportunity Zones are in 58 counties across the state and provide federal capital gains tax advantages in order to attract investments in economically distressed urban and rural communities.
Hoosier Solar will help meet the increasing demand for renewable energy by Indiana’s municipal and regulated utilities, as well as Indiana’s unique access to wholesale energy buyers across the Midcontinent Independent System Operator and Mid-Atlantic regions through the PJM regional interconnection organization.
Hoosier Solar selected South Bend-based Inovateus Solar as the EPC provider.
“As multi-generational Hoosiers, we are thrilled to bring our deep experience in Indiana to this exciting initiative,” said T.J. Kanczuzewski, CEO of Inovateus Solar. “Hoosiers have deep ties to the land and we look forward to working with community leaders to encourage rural economic development while delivering competitively priced reliable power.”
Hoosier Solar intends to use an Indiana-based workforce comprised of businesses in the state, using itss manufacturing sector to purchase finished equipment and raw materials from Indiana-based suppliers. Hoosier Solar also plans to involve local school groups and universities to provide job training and research opportunities for Indiana students.
“Indiana has remarkable resources for solar power,” said Carl Weatherley-White, CEO of Hoosier Solar, and managing director of Advantage Capital. “With deep agricultural roots, Hoosiers want to preserve productive land for multiple generations, and solar projects provide farmers with long-term, steady income that is neither seasonal nor dependent on weather or crop pricing. During the period that the land is not actively farmed, it can regenerate for future generations.”