2018, 2019, 2021 Subsequent Forward Procurements (AIC, ComEd, and MEC)
The Illinois Power Agency procured 1 million renewable energy credits annually from new utility-scale wind projects exceeding 2 MW capacity across Illinois and adjacent states (Wisconsin, Iowa, Missouri, Kentucky, Indiana, Michigan) under fifteen-year contracts serving Ameren Illinois, Commonwealth Edison, and MidAmerican Energy. Projects were required to begin operations after June 1, 2017, with REC allocation split 29.33% to AIC, 70.34% to ComEd, and 0.33% to MEC.
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AI overview
The Illinois Power Agency (IPA) conducted a utility-scale wind procurement event to solicit renewable energy credits (RECs) from new utility-scale wind projects with capacity exceeding 2 MW. This procurement event sought to procure 1 million RECs delivered annually from new utility-scale wind projects under fifteen-year contracts on behalf of three Illinois utilities: Ameren Illinois Company (AIC), Commonwealth Edison Company (ComEd), and MidAmerican Energy Company (MEC). The procurement was authorized under the Final Revised Long-Term Renewable Resources Procurement Plan approved by the Illinois Commerce Commission (ICC) in February 2020.
Key dates for this procurement included: RFP Calendar posted November 16, 2020; Bidder Information Webcast on January 20, 2021; Part 1 Proposal submission deadline of February 25, 2021 at 12:00 PM CPT; Part 2 Proposal submission (bid date) on March 18, 2021; and ICC approval decision on March 18, 2021. Projects must not have started operations before June 1, 2017, and must be located either in Illinois or in adjacent states (Wisconsin, Iowa, Missouri, Kentucky, Indiana, Michigan) meeting the public interest criteria.
Bidders were required to submit comprehensive proposals in two parts, with Part 1 focusing on project qualifications and Part 2 containing pricing and delivery commitments. Bid assurance collateral was required in the form of cash or letters of credit, calculated separately for each utility. The REC Contract provided a 15-year delivery term with RECs allocated across the three utilities at proportions of 29.33% (AIC), 70.34% (ComEd), and 0.33% (MEC). All proposals were subject to strict confidentiality provisions under Section 16-111.5(h) of the Public Utilities Act.
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