The Illinois Power Agency (IPA) conducted a forward procurement for renewable energy credits (RECs) from community renewable generation projects that are non-photovoltaic in nature. The procurement was conducted pursuant to Public Act 99-0906 and the IPA's Long-Term Renewable Resources Procurement Plan approved by the Illinois Commerce Commission (ICC). The program sought to procure RECs delivered annually from community renewable generation projects under fifteen-year contracts, with projects selected primarily on the basis of price.
Key requirements for participation included projects with a nameplate capacity limited to 2,000 kilowatts or less, with co-location standards mirroring the Adjustable Block Program requirements. Projects could be located in the territories of either Ameren Illinois (AIC) or ComEd. Bidders were required to pay a non-refundable bid participation fee of $500 per bidder (not per project) and submit bid assurance collateral of $10,000 per project for AIC and $20,000 per project for ComEd in the form of cash or letter of credit. The procurement targeted 50,000 RECs annually. Contract terms included 15-year REC delivery agreements with performance assurance requirements equal to 1/15th of the Maximum Contract Value.
Important dates in the procurement process included: July 31, 2019 (preliminary bidder information webcast), August 1 and August 30, 2019 (invitation to comment periods), October 16-23, 2019 (RFP rules and bidder information webcast release), October 30, 2019 (updated RFP rules and forms), December 4, 2019 (Part 2 Proposal deadline at 12:00 PM noon CPT), and December 13, 2019 (Bid Date). The ICC rendered its decision on results on December 19, 2019.
Bidders were required to submit two-part proposals. Part 1 consisted of preliminary project information through an online form. Part 2, due by December 4, 2019, included completion of an online form, submission of bid assurance collateral, and supporting documentation. Final bids were submitted on December 13, 2019. Bidders could obtain all non-ministerial permits prior to or after Part 1 submission. Projects were evaluated and selected primarily based on price, with evaluation procedures detailed in Appendix 10 of the RFP Rules. Winning bidders were notified by 6 PM on the bid date or by the next business day.