Indexed REC RFP – ANNOUNCEMENT: Summer 2024 Indexed REC RFP for Wind, Solar, Brownfield, and Hydropower Projects Scheduled

Public Act 102-0662 (the “Climate and Equitable Jobs Act”) was signed into law and became effective on September 15, 2021. In accordance with Public Act 102-0662, the Illinois Power Agency (“IPA”) filed its Long-Term Renewable Resources Procurement Plan (“2024 Long-Term Plan”) with the Illinois Commerce Commission (“ICC”) on October 20, 2023. The ICC issued a Final Order approving the 2024 Long-Term Plan with modifications on February 20, 2024.

As approved by the ICC, the 2024 Long-Term Plan provides for a procurement of Indexed Renewable Energy Credits (“Indexed RECs”) from new utility-scale wind projects, new utility-scale solar projects, new brownfield site photovoltaic projects, and certain hydropower projects this Summer 2024.

The schedule for the Summer 2024 Indexed REC RFP is posted to the Calendar page of the procurement website. A draft version of the Indexed REC Contract along with preliminary proposal requirements will be posted on Friday, March 15, 2024 and a request for stakeholder feedback will be issued. Bidders may begin submitting qualification materials for projects in May and bids will be due on June 26, 2024.