Public Act 99-0906 calls for initial forward procurements of renewable energy credits (RECs) from new utility-scale wind and solar projects, as well as brownfield site photovoltaic projects. This procurement event seeks to procure 1,000,000 RECs annually from new utility-scale wind projects and 200,000 RECs annually from new utility-scale solar projects and brownfield site photovoltaic projects. The RECs will be delivered to three electric utilities: Ameren Illinois Company (AIC), Commonwealth Edison Company (ComEd), and MidAmerican Energy Company (MEC). All delivery of RECs begins on June 1, 2019, if available, but not later than June 1, 2021.
Key dates for the Fall 2017 procurement event include: Part 1 Proposal Window opens July 20, 2017 and closes August 7, 2017 at 12:00 PM CPT; Part 2 Proposal due August 23, 2017 at 12:00 PM CPT; Bid Date August 31, 2017; and Commission decision expected September 7, 2017. Bidder information webcast held July 19, 2017.
Projects must be located in Illinois or a state adjacent to Illinois (Wisconsin, Iowa, Missouri, Kentucky, Indiana, or Michigan). Utility-scale solar projects must have nameplate capacity greater than 2,000 kW (AC rating). Brownfield site photovoltaic projects have no size requirement but must be interconnected to an electric utility, municipal utility, public utility, or electric cooperative, and located at a regulated brownfield site.
Bid participation fee is $500. Bid assurance collateral requirements vary by utility: AIC requires $4,000/MW for solar (minimum $35,000, maximum $120,000) and $1,600/MW for wind; ComEd requires $10,000/MW for solar (minimum $35,000, maximum $300,000) and $4,000/MW for wind; MEC requires $30,000 regardless of project size. REC contracts have a 15-year delivery term with fixed pricing. Collateral requirement is 50% of annual contract value upon execution, increasing to 100% on June 1, 2019.