Posey Solar is expected to become operational by mid-2025, and the clean energy generated by the project will be distributed to meet the energy needs of southwestern Indiana homes and businesses.
The Posey Solar Project groundbreaking event featured a welcome address, celebrating the commencement of Indiana's newest solar project; networking and refreshments; and a symbolic groundbreaking moment where project partners, landowners, and esteemed guests ceremoniously marked the beginning of the project's construction.
"Renewable energy, such as solar, supports the diversification of our state's energy portfolio, decreases the tax burden on the county's residents, provides economic benefits to the landowners, and improves the business environment for the county. Posey County, through the development of their balanced solar ordinance, encourages the development of renewable energy to support the future growth and viability of their rural community," said Connie Neininger, National Policy Advisor at the Center for Infrastructure & Economic Development.
Arevon and CenterPoint Energy first announced their partnership for the Posey Solar Project in February 2021, and CenterPoint Energy received final approval from the Indiana Utility Regulatory Commission (IURC) in October 2023, to acquire the Posey Solar Project. CenterPoint Energy will be the long-term owner and will operate the project.
During construction, Posey will create more than 200 full-time construction jobs and will have a multi-million-dollar budget to operate and maintain the project during its estimated 35-year lifespan. The project, which is slated to include a 20-acre pollinator garden within its footprint, will also contribute lease payments to Posey County landowners and more than $30 million to local governments over the life of the project.
During the construction period, an estimated $31.2 million will be spent in Posey County, going toward hotels, restaurants, and other local businesses. Furthermore, the Posey project has committed to contributions to the Marrs Township Fire Department over the life of the project and also contributed $219,000 toward new communications towers that will help ensure reliable radio service to first responders.
"Posey Solar provides significant benefits to the state of Indiana and to Posey County, including cost-effective renewable energy, substantial construction jobs, and long-term tax benefits to the region," said Kevin Smith, Chief Executive Officer at Arevon . "Arevon appreciates our partners and the stakeholders who made this project a reality, and we look forward to advancing the Posey Solar Project into operations."
