INDIANAPOLIS - With Indianapolis Power & Light Co. planning to retire two coal-fired generating plants, the utility is now looking for replacement technology to generate electricity.

IPL, a subsidiary of AES Corp. (NYSE: AES), will Friday issue a Request for Proposals to find replacement generation capacity.

Chicago-based engineering consultant Sargent & Lundy will act on IPL’s behalf to facilitate the RFPs.

IPL says it’s looking to diversify its mix of power technology needed to generate 200 megawatts of power, needed to serve its 500,000 customers.

“Our 2019 integrated resource plan takes a balanced approach to delivering reliable, affordable and cleaner energy to our customers during a time of rapid change in the energy industry,” said Vince Parisi, IPL president and chief executive officer.

Two weeks ago, IPL announced plans to shut down two of four coal-fired units at its Petersburg Generating Station in Pike County. The first unit will be retired in 2021, the second unit in 2023.

On Monday, the company filed its integrated resource plan with the Indiana Utility Regulatory Commission. The IRP is a 20-year company roadmap that outlines power generation, end-user demand and infrastructure needs.

“The Company’s preferred portfolio gives us a path to replace approximately 200 megawatts of generation capacity while maintaining flexibility, should future market conditions change,” said Parisi. “We’re asking bidders to bring us their most cost competitive options that meet the needs and expectations of our customers and communities.”

IPL says the plan indicates energy efficiency, solar and wind generated power are the lowest cost options for replacement capacity. But the company says it will assess a variety of potential resources and bids.

Bid submissions are due February 28.