Indianapolis Power & Light Company's (IPL) has filed a $1.2b investment plan with the Indiana Utility Regulatory Commission (IURC) to modernize its electric grid over seven years.

According to Vincent Parisi, president and CEO of IPL, the plan is designed to ensure reliable, seamless and efficient energy services, meeting customer energy needs now and in the future, reports Daily Energy Insider.

"It is critical that we upgrade, replace, and modernize the infrastructure, technology, and equipment used to provide electric service," said Parisi.

Among the upgrade projects, the plan includes replacing power transformers, breakers, batteries and other aging equipment at substations to meet local area energy demands.

If the IURC approves the utility's proposal, full implementation would begin in 2020 and conclude in 2027, with a total investment of $1.2 billion.

Source: Daily Energy Insider