The Illinois Power Agency (IPA) conducted a competitive procurement for indexed renewable energy credits (RECs) from new utility-scale wind projects (over 5 MW), new utility-scale solar projects (over 5 MW), new brownfield site photovoltaic projects, and new hydropower projects at existing dams or modernized/retooled hydropower projects at existing dams.
The procurement quantities included 2,963,078 RECs delivered annually from new utility-scale wind or hydropower projects, 666,666 RECs delivered annually from new utility-scale solar projects, and 176,271 RECs delivered annually from new brownfield site photovoltaic projects. The procurement was structured in two parts: Part 1 Proposals (qualification standards) were due November 5, 2025, and Part 2 Proposals (including bid assurance collateral submission) were due December 1, 2025. Bids were submitted on December 10, 2025.
Key dates included: Part 1 Deadline of November 5, 2025 at 12 PM noon CPT, Part 2 Deadline of December 1, 2025 at 12 PM noon CPT, Bid Date on December 10, 2025 between 10 AM and 12 PM noon CPT, and ICC Commission decision on December 16, 2025. The procurement evaluation was completed and results were announced on December 16, 2025.
Projects must demonstrate adequate development maturity through interconnection documentation, meet minimum equity standards of 14% equity-eligible persons on project workforce, comply with project labor agreement requirements (unless construction began prior to September 15, 2021), and meet all technical and financial requirements outlined in the RFP Rules and Indexed REC Contract. Winners must execute contracts within three business days of Commission approval, post performance assurance collateral within fifteen business days, and achieve first REC delivery by May 31, 2030 (extendable to May 31, 2032 with increased collateral).