AES Turns to Indiana with Latest Battery-Storage Development

July 24, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--AES Corporation (NYSE:AES) (Arlington, Virginia) hopes its Indiana-based subsidiary can refurbish parts of a retiring coal-fired power plant to accommodate a battery energy-storage system (BESS). The plant already is being converted to burn natural gas, but AES believes a BESS could help it make up for capacity shortfalls predicted for the winter months, according to the company's recently published integrated resource plan.

Industrial Info is tracking about $1.8 billion worth of BESS projects in Indiana, and $4.35 billion worth nationwide from AES. The company already is preparing to begin construction later this year on a major solar development nearby, and NextEra Energy Incorporated (NYSE:NEE) is preparing its own BESS projects elsewhere in the state.

Other companies featured: Canadian Solar Incorporated (NASDAQ:CSIQ) and Jinko Solar (NYSE:JKS).