2025 Summer Indexed Wind, Solar, Brownfield, and Hydropower REC RFP (AIC, ComEd, and MEC)

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 or modernized/retooled hydropower projects at existing dams. This procurement was conducted under Public Act 102-0662 (Climate and Equitable Jobs Act) and Public Act 103-0380 (hydropower provisions), in accordance with the IPA's 2024 Long-Term Renewable Resources Procurement Plan approved by the Illinois Commerce Commission on February 20, 2024.

The procurement targeted 5,243,684 RECs delivered annually from either new utility-scale wind or hydropower projects, 666,666 RECs delivered annually from new utility-scale solar projects, and 222,000 RECs delivered annually from new brownfield site photovoltaic projects. RECs from selected projects were allocated to three utilities in specified proportions: 27.09% to Ameren Illinois Company (AIC), 72.67% to Commonwealth Edison Company (ComEd), and 0.24% to MidAmerican Energy Company (MEC). Winners entered into 20-year indexed REC contracts with indexed pricing mechanisms tied to real-time locational marginal prices at either MISO-IL Hub or PJM-NIHUB, depending on bidder selection.

Key dates included: Part 1 Proposal deadline of June 30, 2025 at 12:00 PM CDT; Part 2 Proposal and bid assurance collateral deadline of July 23, 2025 at 12:00 PM CDT; Bid Date of August 1, 2025; and Illinois Commerce Commission decision on August 7, 2025. Performance assurance was required to be posted by August 28, 2025. All projects were required to have achieved first REC delivery by May 31, 2030 (extendable to May 31, 2032 under certain conditions).

The procurement included requirements for Minimum Equity Standard compliance (14% of project workforce must consist of Equity Eligible Persons or Contractors for projects with Date of First Operation on or after December 15, 2022). Bidders could optionally commit to higher equity levels (above 14%) for strike price reductions during bid evaluation. Energy Transition Community Grant Area projects and certain hydropower projects in preference communities received evaluation prioritization.