The project, designated as the Rockport Energy Center, represents a significant shift as the utility transitions away from coal-fired generation at the site. According to I&M president Maryam S. Brown, the facility will provide dependable baseload power intended to shield customers from market price volatility. The company asserts that this investment is already accounted for within its upcoming rate reduction filing and non-fuel rate freeze.

Pending approval from the Indiana Utility Regulatory Commission in early 2027, construction is slated to begin the same year, with the plant becoming operational by summer 2030. The project is expected to generate approximately 1,200 construction jobs and establish 30 to 40 permanent operational roles. Local officials in Spencer County have voiced support for the proposal, citing the site’s existing infrastructure and the utility's long-standing role as an economic partner in the region.