As provided by the Long-Term Renewable Resources Procurement Plan approved by the ICC on April 3, 2018, Forward Procurements of renewable energy credits (“RECs”) will be held as follows: (i) a procurement of 2 million RECs delivered annually from new utility-scale wind projects (projects over 2 MW); (ii) a procurement of 2 million RECs delivered annually from new utility-scale solar projects (projects over 2 MW); and (iii) a procurement of 80,000 RECs delivered annually from new brownfield site photovoltaic projects.
On June 12, 2018, the Illinois Power Agency (“IPA”) held a workshop to discuss the upcoming Forward Procurements scheduled to be conducted in 2018. The workshop provided stakeholders with a review of the Initial Forward Procurements previously held by the IPA, and an overview of the proposed eligibility requirements, key contract terms, proposal process and requirements for the upcoming Forward Procurements. The IPA invites interested parties to provide feedback on the following topics related to the upcoming procurement events:
- Deadline for the First REC Delivery;
- Credit and Collateral Provisions;
- Degradation of Solar Projects;
- Assessment of Project Maturity; and
- IEPA Brownfield Site Eligibility Requirements
The IPA has posted specific questions relating to the above topics. Interested parties should refer to the Forward Procurements Workshop Follow-up Request for Comments document posted to the 2018 Renewables Resources Workshop page to review the IPA’s specific queries before providing feedback on these topics.