Loading...
Loading...
Portland General Electric Company's
recent request for proposals
for renewable electric power generating resources has resulted in 64 bids
representing 39 distinct generating projects with a combined nameplate
capacity of 4,450 megawatts. These include a benchmark proposal submitted by
PGE in late October. Third-party bids were due Nov. 13, 2012.
In order to meet renewable power needs identified in PGE's current integrated
resource plan the RFP asked for proposals to help the company acquire
approximately 100 average megawatts of renewable power — enough to serve more
than 83,000 typical PGE residential customers. Bids were required to meet a
minimum size of at least 10 megawatts and a minimum duration of 10 years. PGE
may acquire a single resource or a mix of resources to achieve the total
desired renewable energy target, and anticipates the resources acquired will
be brought into the company's portfolio in the 2013-2017 timeframe to help
meet PGE's future obligations under the Oregon renewable energy standard.
The bids received include a mix of projects to be sold to PGE pursuant to
asset purchase agreements and projects that would sell power to the utility
under long-term power purchase agreements. While a substantial majority of the
proposals in the bid pool are based on wind power, other renewable
technologies including geothermal, biomass, biogas, hydro and solar are also
represented.
PGE is currently evaluating the bids received, and expects to develop a final
short list of bids for negotiation by the end of first quarter 2013. Names of
the bidders and other details of their proposals will remain confidential.
Final selections are expected within the first half of 2013.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in