Hoosier Energy Rural Electric Cooperative, Inc. Summer 2025 Request for Proposals for MISO Capacity and Energy

Hoosier Energy Rural Electric Cooperative, Inc. is soliciting proposals for both capacity and energy resources to serve its load requirements. The RFP seeks year-round capacity starting June 1, 2028, with a winter need of up to 300 MWs. Hoosier Energy is open to long-term offers for capacity starting in 2029 and will consider power delivered prior to 2028 at a discounted market value. The cooperative prefers delivery to the Hoosier Energy Load Zone but will consider offers with delivery to locations in MISO Central, including generator busbars.

Proposals may include firm energy with liquidated damages provisions, solar projects, battery energy storage systems (BESS), tolling agreements, and battery tolling arrangements (BTA). Hoosier Energy will consider innovative structures that provide benefit, such as solar paired with BESS arrangements. The RFP will evaluate proposals based on execution risk, project economics, and compliance with MISO interconnection requirements. Development and performance security requirements will apply to shortlisted entities and may vary based on the project and respondent creditworthiness.

The RFP follows a two-phase process. Phase 1 requires submission of the Appendix A excel spreadsheet for each separate proposal. Shortlisted proposals advance to Phase 2, where respondents are asked to refresh pricing if necessary and discuss detailed transaction terms. Draft PPAs and term sheets will be provided to shortlisted proposals at the discretion of Hoosier Energy. Contract terms will be negotiated with shortlisted projects and will address provisions for changes in law or regulatory policy, such as MISO's evolving accreditation framework including Direct Loss of Load (DLOL) implementation.

Key dates include: posting date June 27, 2025; questions due July 9, 2025; Notice of Intent to Provide Proposal due July 9, 2025; Phase 1 submissions due July 25, 2025; Phase 1 results notification September 3, 2025; Phase 2 submissions due September 17, 2025; and Phase 2 results notification October 16, 2025.