2023 Summer Indexed Wind, Solar, and Brownfield REC RFP (AIC, ComEd, and MEC)
Illinois Power Agency procured 1.75M RECs annually from utility-scale wind (5+ MW), 1M RECs annually from utility-scale solar (5+ MW), and 65K RECs annually from brownfield solar—all new projects in Illinois or adjacent states under 20-year indexed contracts aligned with Illinois's Climate and Equitable Jobs Act. Winners allocated across three utilities: 71.9% to ComEd, 27.8% to AIC, and 0.3% to MEC, with strike prices benchmarked by the Procurement Administrator and evaluated for additional reductions in Energy Transition Community Grant Areas. Minimum Equity Standard requirements mandated 10% equity-eligible workforce on projects with first operation on or after December 15, 2022.
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AI overview
The Illinois Power Agency (IPA) conducted a Request for Proposals (RFP) for indexed Renewable Energy Credits (RECs) from new utility-scale wind projects (greater than 5 MW), new utility-scale solar projects (greater than 5 MW), and new brownfield site photovoltaic projects under twenty-year contracts. This procurement was conducted in accordance with Public Act 102-0662 (the Climate and Equitable Jobs Act) and the ICC-approved 2022 Long-Term Renewable Resources Procurement Plan.
The procurement targeted 1,750,000 RECs annually from new utility-scale wind projects, 1,000,000 RECs annually from new utility-scale solar projects, and 65,000 RECs annually from new brownfield site photovoltaic projects. Projects eligible for participation include those located in Illinois or adjacent states (Wisconsin, Iowa, Missouri, Kentucky, Indiana, and Michigan), with adjacent state projects requiring pre-approval from the IPA demonstrating compliance with public interest criteria.
Key milestones included: Part 1 Proposals due May 18, 2023; Part 1 Notification issued June 1, 2023; Part 2 Proposals due June 15, 2023; Bids submitted June 22, 2023; Commission decision June 29, 2023. Contract execution was expected by July 5, 2023. Winners must comply with Minimum Equity Standard requirements (10% project workforce comprised of Equity Eligible Persons) for projects with Date of First Operation on or after December 15, 2022, and must submit Compliance Plans demonstrating equity hiring efforts.
Projects were evaluated across three categories with strike prices subject to benchmarks established by the Procurement Administrator in consultation with the IPA, Procurement Monitor, and ICC Staff. Additional bid evaluation price reductions were available for projects located entirely within Energy Transition Community Grant Areas. Winners were allocated to three utilities in pre-specified proportions: 27.793% to AIC, 71.925% to ComEd, and 0.282% to MEC, resulting in three separate Indexed REC Contracts, one with each utility.
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