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Power

Hoosier Energy

When sourcing power on behalf of the rural communities throughout its service territory, Hoosier Energy, a generation and transmission cooperative in Bloomington, Indiana, has adopted what Chief Financial Officer Donna Snyder calls an “all-of-the-above” strategy.

That means not just traditional coal and natural gas generation facilities, but a wide variety of renewable energy sources as well, including solar, landfill gas and coalbed methane, wind turbines, and hydropower.

Hoosier Energy adopted the strategy in 2006 in order to offer its cooperative members a mix that balances reliability, affordability and environmental concerns, with a goal of 10 percent of the co-op’s energy provided by renewables by 2025. “We know it’s an ambitious agenda, and we are not being required to adopt it,” says Snyder. “However, we’ve taken these significant actions simply because they were the right thing to do for our cooperative members.”

Hoosier Energy provides power to 18 member electric distribution cooperatives serving more than 300,000 homes, businesses and industries in central and southern Indiana and southeastern Illinois. After working with Hoosier Energy for nearly 30 years, CoBank today serves as one of the co-op’s largest lenders, providing it with a wide variety of financing products, including term debt and clean renewable energy bonds. In 2015, the bank also provided Hoosier with lease financing that funded the construction of one of 10 planned one-megawatt solar arrays.

“We’ve always considered CoBank to be one of our key business partners,” says Snyder. “Their understanding of the renewable industry has helped us choose the right funding mechanism for each of the projects we have undertaken.”

“CoBank appreciates the opportunity to serve progressive cooperatives like Hoosier Energy that are fulfilling their traditional mission of supplying reliable, affordable power to rural communities while embracing change,” says Todd Telesz, senior vice president of CoBank’s Power, Energy and Utilities Banking Division. “CoBank’s lending capacity and broad industry knowledge enable us to serve as a strategic financial partner as G&T’s innovate and implement new technologies and plan for the future.”

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