Utility Narrows Renewable Energy Bids

Major plans for new renewable energy development by one of the Northwest’s major electric utilities are becoming more clear. PacifiCorp has now developed a ranking of projects and identified the top-rated proposals for further discussions under its renewable resource request for proposals (RFP 2003-B).

Portland Oregon – August 17, 2004 [SolarAccess.com] Discussions will begin with seven top bidders representing a total of more than 1,000 MW of resources for wind and geothermal resources in Oregon, Utah, Wyoming and Nevada. “We’re pleased to be moving forward with our commitment to renewable energy development, although there remain significant issues to resolve before we can be confident of achieving our target procurement level,” said Stan Watters, PacifiCorp’s senior vice president of Commercial and Trading. “This list of bidders appears very interesting, and we’ll be closely examining each project to determine what makes the most sense in terms of timing and financial impacts to the company and its customers.” The RFP was a result of PacifiCorp’s Integrated Resource Plan that identified acquiring 1,400 MW of renewable resources over the next 10 years as part of a cost/risk balanced portfolio designed to ensure safe, reliable, low-cost energy for Pacific Power and Utah Power customers. PacifiCorp may acquire up to 1,100 MW of resources through the RFP 2003-B process, which covers the first seven years of the plan. The RFP, sent out in February, brought in bids for more than 6,000 MW of renewable resources from dozens of proposed projects across PacifiCorp’s service territory. Due to ongoing confidentiality agreements and negotiations with the counterparties in the process, PacifiCorp is unable to release the names of the bidders at this time. Next steps in the RFP process include additional review of the top proposals with bidders, finalizing the short list, negotiations with short-listed bids and the signing of long-term power purchase contracts. PacifiCorp hopes to conclude at least some agreements prior to the end of the year. Most of the top ranked projects are dependent on renewal of the federal production tax credits under consideration by the U.S. Congress.
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