Indiana Municipal Power Agency

What Indiana Municipal Power Agency does

Indiana Municipal Power Agency (IMPA) is a not-for-profit joint action agency founded in 1983 and headquartered in Carmel, Indiana, that procures and supplies wholesale electricity to 61 municipally-owned electric utilities across Indiana and Ohio. These member utilities collectively deliver electric service to over 350,000 end customers in communities ranging from 200 to more than 57,000 in population. IMPA was created under Indiana enabling legislation to aggregate the load of small municipal utilities and give them access to power supply options they could not reach individually, governing the Agency through a Board of Commissioners representing each member community.

IMPA's core product is wholesale power supply drawn from a diversified generation portfolio that includes shares in coal-fired stations (Gibson Unit 5, Trimble County Units 1 and 2, Prairie State), combustion turbine facilities in Anderson and Indianapolis, nuclear capacity (Trimble County), and a fast-growing renewable layer. By 2024 the Solar Parks Program had reached 210 megawatts across 54 community-located parks, supplemented by a 75 MW wind PPA with Enel Green Power (Alta Farms Wind Project II, online Q2 2023) and a 150 MW solar PPA (Ratts 1, online Q1 2025). A 6 MW / 24 MWh Battery Energy Storage System pilot was commissioned at the Richmond 6 Solar Park in December 2025 to test load-shifting and ancillary-services economics. IMPA also operates an Open Access Same-Time Information System (OASIS) node on the Joint Transmission System.

IMPA operates as a not-for-profit, cost-based pass-through: approximately $500 million in annual revenues fund operations, debt service, and power supply, with member rates cited as 20-30% below the rest of Indiana and 40%+ below other utility types in the region. The Agency finances generation and transmission assets at favorable terms, supported by consistent A+/A1 ratings from Fitch, Moody's, and Standard & Poor's, against approximately $2 billion in total assets. Revenue and services are delivered to member utilities through a direct B2B wholesale model, with IMPA Service Corp (formed 2001) providing add-on engineering, rate design, and operations support, and an Economic Development Rider program offering wholesale-rate discounts to qualifying new and expanding businesses within member service territories.

Name

Indiana Municipal Power Agency

Legal name

Indiana Municipal Power Agency

Website

https://impa.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

51–100 employees

Short description

Indiana Municipal Power Agency is a not-for-profit joint action agency that supplies wholesale electricity to 61 municipal utilities across Indiana and Ohio, serving over 350,000 residents through a diversified coal, natural gas, nuclear, wind, and solar generation portfolio.

Ownership category

akta.pro rank

Product category

Wholesale Electric Power Supply

NAICS

Electric Power Generation, Transmission and Distribution (2211), Solar Electric Power Generation (221114)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Utility-Scale Power Generation Asset Management (EUAEAMAA)

akta.pro secondary industries

Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF)

Keywords

• Wholesale power supply
• Municipal electric utilities
• Renewable energy generation
• Energy storage systems
• Economic development incentives

Headquarters

HQ city

Carmel

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D

Revenue model

1. Wholesale Power Supply: IMPA supplies wholesale power to its 61 member municipal electric utilities. As a not-for-profit agency, revenues fund operations, debt service, and power supply costs rather than generating profit. Annual revenues of approximately $500 million.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Indiana Municipal Power Agency is a not-for-profit joint action agency that supplies low-cost, reliable, and environmentally responsible wholesale electricity to its 61 member municipal electric utilities across Indiana and Ohio. IMPA generates and purchases power through a diversified portfolio of coal, natural gas, nuclear, wind, and solar resources, complemented by battery energy storage systems and power purchase agreements. The Agency also delivers operational support services—including engineering, rate design, marketing, and government relations—through its IMPA Service Corp subsidiary and runs consumer programs in green power, energy efficiency, and electric vehicles.

Product overview

IMPA is a not-for-profit municipal power agency providing wholesale power supply to 61 member communities across Indiana and Ohio. The core offering is a diverse power portfolio combining coal, natural gas, nuclear, wind, and solar generation with purchased power agreements. Key products include the Solar Parks Program (210 MW across 54 locations), Battery Energy Storage Systems for grid optimization, and Power Purchase Agreements for renewable energy. Support services are delivered through IMPA Service Corp (engineering, operations, rate design), the Economic Development Rider incentive program, and consumer programs including Green Power, Energy Efficiency, and Electric Vehicle resources. The organization operates as a joint action agency, enabling member communities to share power resources and achieve cost savings of 20-30% below state averages.

Differentiator

Problem solved

Functional benefit

Products and services

• Wholesale Power Supply Core wholesale electricity supply to 61 member municipal electric utilities across Indiana and Ohio, serving over 350,000 individuals through a diversified portfolio of coal, natural gas, nuclear, wind, and solar generation.
• Solar Parks Program 210 megawatts of solar power across 54 solar parks located in IMPA's member communities; IMPA operates the parks and purchases 100% of their production under agreements with investors who receive federal investment tax credits.
• Battery Energy Storage System (BESS) Pilot Project Six-megawatt Battery Energy Storage System at Richmond 6 Solar Park storing 24 megawatt-hours of energy, enabling load shifting when market prices fluctuate and providing dispatchable resources to IMPA, Richmond Power & Light, and all members.
• Power Purchase Agreements (PPAs) Long-term power purchase agreements delivering renewable capacity, energy, and renewable energy credits to IMPA, including solar (150 MW Ratts 1) and wind (75 MW Alta Farms Wind Project II) contracts expected to produce 263 GWh of wind energy annually.
• IMPA Service Corp Wholly-owned subsidiary providing engineering, project management, rate design and management, and dedicated retail customer services for IMPA's member communities.
• Economic Development Rider (EDR) Program Incentive program offering discounts on the wholesale portion of electric bills for qualifying new or expanding businesses that meet minimum criteria of site location within IMPA service territory, $1,000,000 investment in real and/or personal property, and 1 MW of new load at one premise.
• Green Power Program Consumer-facing program enabling member utility customers to support renewable energy generation through optional participation.
• Energy Efficiency Programs Resources and programs that help member community customers meet energy goals through conservation and efficiency measures.
• Electric Vehicle Resources Consumer information and resources regarding electric vehicles and charging infrastructure for IMPA member community customers.
• Training Workshops Educational workshops provided to member communities and their employees for professional development and operational training in the utility industry.

Quantifiable outcome

• Rates 20-30% lower than rest of Indiana
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Enel Green PowercoreStrategic or Co-development Partner · 1 January 2023Contract with Enel Green Power for 75 megawatts of wind power from their Alta Farms Wind Project II, beginning in Q2 2023. IMPA's portion of the project is expected to produce 263-gigawatt-hours of wind energy annually, enough to power over 27,000 homes.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• AES Indiana (formerly Indianapolis Power & Light): Investor-owned utility serving Indianapolis and central Indiana with generation, transmission, and distribution. Directly comparable end-customer geography to IMPA's largest member communities and a competing rate structure for industrial customers.
• Duke Energy Indiana: Investor-owned utility serving central and southern Indiana with vertically integrated generation, transmission, and distribution. The largest IOU competitor in IMPA's service territory, with comparable generation-mix breadth and a much larger balance sheet.
• Indiana Michigan Power (I&M): Investor-owned utility subsidiary of American Electric Power serving Indiana and Michigan with generation, transmission, and distribution. Competes with IMPA's member utilities for industrial and commercial load in the same Indiana footprint.

Direct peers

• WPPI Energy: Member-owned joint action agency serving 51 municipal utilities in Wisconsin, Michigan, Iowa, and Minnesota with wholesale power, generation services, and renewable resources. Highly comparable in scale, structure, and member-services orientation.
• Municipal Energy Agency of Nebraska (MEAN): Non-profit joint action agency providing wholesale generation and transmission services to Nebraska municipal electric systems. Same member-owned wholesale-supply model as IMPA, with overlapping generation-resource strategy.
• Nebraska Public Power District: Wholesale power supplier serving retail utilities, municipalities, and rural systems across Nebraska with a diversified generation portfolio including nuclear, coal, wind, and hydro. Comparable scale, generation mix, and wholesale-to-municipal-utility model.
• American Municipal Power: Non-profit joint action agency headquartered in Ohio that supplies wholesale generation and transmission to municipal electric utilities across multiple states. Operates its own generation fleet and PPAs, the closest structural and operational analog to IMPA.
• Illinois Municipal Electric Agency (IMEA): Joint action agency providing wholesale power and related services to Illinois municipal electric utilities. Similar not-for-profit, member-owned structure with a focus on shared resources and competitive rates for small municipal systems.
• North Carolina Eastern Municipal Power Agency (NCEMPA): Joint municipal power agency supplying wholesale power to eastern North Carolina municipalities. Shares IMPA's joint-action structure, member-utility orientation, and reliance on ownership shares in large generating stations plus purchased power.

Others

• Enel Green Power: Global renewable developer and IMPA's contracted wind PPA counterparty (Alta Farms Wind Project II, 75 MW). Comparable as a utility-scale renewable generation developer and operator, but as a vendor/partner rather than a competitor in wholesale supply to municipalities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights8 records

Customer concentration

• Xx.com/impapower
• YouTubeyoutube.com/impapower
• Facebookfacebook.com/impapower
• LinkedInlinkedin.com/company/indianamunicipalpoweragency
• Instagraminstagram.com/impapower

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indiana Municipal Power Agency