The Tennessee Valley Authority (TVA) is calling on developers to submit proposals to develop 200 MW of renewable energy that can be brought online by the end of 2023.
The announcement constitutes a request for proposals (RFP) notice, soliciting proposals in supplying delivered energy, capacity and environmental attributes to TVA. Proposals are due to TVA by April 24, 2020. TVA will announce the selected proposals in the fall 2020 time frame.
TVA is interested in procuring up to 200 MW of new standalone renewable energy resources or renewable energy+battery energy storage systems (BESS), including all the associated environmental attributes. All resources must be located in the TVA service territory or delivered to TVA’s interface with neighboring transmission systems. Solar resources must be tracking. If any proposal is delivered to the TVA interface, it must have all of the cost components included for an all-in energy price.
Notwithstanding the above-stated target, TVA reserves the right to vary from this target energy quantity based on the evaluation of bids that are received. Any transaction resulting from the RFP will be in the form of a power purchase agreement (PPA).
TVA procured more than 1,300 MW on behalf of customers through similar requests for proposals in 2018 and 2019. Large-scale solar costs 80% less than private-scale solar and delivers the best value for renewable energy across TVA’s seven-state service territory.
While TVA does not have a need for more base-load energy, the utility is investing in renewables in response to customer demand for cleaner energy and economic development opportunities to attract companies with sustainability goals.
Developers can review TVA’s RFP and submit bids, here.
Photo: TVA’s landing page