Appalachian Power Company (APCo), represented by American Electric Power Service Corporation, has launched a Request for Proposals (RFP) for Renewable Energy Certificates (RECs) eligible under Virginia’s Renewable Portfolio Standard (RPS). This RFP is part of APCo’s effort to expand its renewable energy resources.
The RFP focuses solely on RECs, separate from two other simultaneous RFPs by APCo for wind, solar, and battery energy storage systems (up to 800 MW) and for wind and solar energy (up to 300 MW) via power purchase agreements (PPAs). This initiative aligns with APCo’s commitment to providing carbon-free generation as mandated by the Virginia Clean Economy Act (VCEA), aiming for 100% clean energy by 2050.
The key dates for the REC RFP are as follows:
Proposal Due Date: July 16, 2024, by 3 p.m. EST
Final Project Selection: October 11, 2024
Contract Execution: By April 25, 2025
Submission to State Regulatory Commissions: Within 90 days of contract execution
Regulatory Approval Order(s) Receipt: Approximately 4 to 7 months after submission
Contract Term Start: By January 1, 2027
This RFP aims to acquire unbundled RECs from eligible renewable sources as defined by Virginia law, ensuring compliance with the state’s renewable energy standards. The RECs must be generated by projects within the PJM region and delivered through PJM’s Generation Attribute Tracking System (PJM-GATS).
APCo invites proposals that meet these criteria and demonstrates the potential for long-term contracts ranging from 5 to 30 years. The company emphasizes that the proposals should be comprehensive to facilitate a thorough evaluation without the need for further clarification.
This initiative represents a significant step in APCo’s strategy to enhance its renewable energy portfolio and support sustainable energy practices in Virginia. Interested parties can find more information and submit their proposals via the APCo RFP website.
For more details view the document below:
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