AES Indiana files 2025 Integrated Resource Plan demonstrating unprecedented flexibility to ensure reliable, sustainable energy growth in Central Indiana

October 31, 2025

INDIANAPOLIS – Today, AES Indiana, a subsidiary of The AES Corporation (NYSE: AES) filed its 2025 Integrated Resource Plan (IRP) with the Indiana Utility Regulatory Commission (IURC). This 20-year outlook sets forth a strategy to meet customer energy needs, guided by the state’s energy pillars, including reliability, resiliency, stability, affordability and environmental sustainability. In the filing, AES Indiana submitted a preferred resource portfolio with two options to remain flexible and adapt to meet its obligation to serve if large-load customers locate within the service territory.

“Central Indiana is at the center of diverse economic growth with abundant interest from large-load customers like data centers,” said Brandi Davis-Handy, President of AES Indiana. “Businesses are seeking growth opportunities in regions with reliable energy solutions, leading to increased demand throughout AES Indiana’s service territory.”

“Our approach to powering the future of energy is rooted in planning for two possible outcomes, ensuring we can adapt and deliver on changing customer needs, market conditions and emerging technologies. By investing in newer technologies, expanding battery storage, and embracing flexibility to meet potential new demands, we’re committed to responsibly powering Central Indiana’s growth for decades to come.”

Preferred resource portfolio and short-term action plan

AES Indiana’s 2025 IRP builds on this momentum and charts a path to best meet the energy needs of our more than 530,000 customers for the next 20 years. The plan is updated every three years and submitted to the IURC. The 2025 plan reflects the dynamic changes taking place in the energy industry, the changing needs of our customers and the evolving policy and market conditions. 

AES Indiana has a preferred resource portfolio that identifies two options for resource additions: the first set of resource additions will be added to the portfolio regardless of the size and timing of a potential large-load customer, and the second set of resource additions will only be added after a large-load customer is contracted.

Preferred resource portfolio additions:

• Add demand response and energy efficiency (118 MW by 2028 and 285 MW by 2032) 
• Add battery storage (40 MW by 2032 and up to additional 820 MW by 2032 if a large-load customer is contracted) 
• Add natural gas (up to 700 MW if a large-load customer is contracted) by 2032 
• Monitor emerging technologies for inclusion in future planning  

Powering an energy transition

For the past decade, AES Indiana has focused on an all-of-the-above approach to energy transition. Since our 2022 IRP, we’ve completed the Pike County Battery Storage System, Hardy Hills Solar Facility and Hoosier Wind Facility.

Read the 2025 IRP

The IRP guides future generation decisions. All resource additions, whether via Power Purchase Agreement (PPA), acquisition, or self-development, will require approval from the IURC through a future regulatory filing. The full 2025 IRP filed with the IURC and a shorter, non-technical summary are available at aesindiana.com/integrated-resource-plan.

About AES Indiana 
AES Indiana, an AES Company, provides retail electric service to more than 530,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, AES Indiana has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please connect with AES Indiana on X, Facebook and LinkedIn. For more information about how AES Indiana is accelerating the future of energy, visit aesindiana.com.