Virginia Energy Company Issues RFP for RECs
Dominion Energy Virginia is continuing its support of solar development with a request for proposals for distributed solar projects. Their goal is to help meet renewable energy guidelines set forth by the company and Virginia.
Their support of renewable energy is great news for businesses with a focus in this area! Dominion has issued an RFP for unbundled Renewable Energy Certificates (RECs). These RECs must be generated from 1 MW or less facilities to help meet clean energy goals. These goals are detailed in the renewable portfolio standard (RPS) as defined in the Virginia Clean Economy Act (VCEA).
This RFP is looking for RECs from solar, wind, or anaerobic digestion resources in order to comply with the RPS. Eligible facilities must be located in the Commonwealth of Virginia, and must be no larger than one megawatt in size. They must also not have more than three megawatts at any single location or at contiguous locations owned by the same entity or affiliated entities. The Company anticipates that most proposals will submit RECs that come from existing facilities; however, prospective bidders may submit proposals to sell RECs generated through the end of 2023 which could come from existing facilities or new facilities.
Solar generation is a vital part of Dominion Energy’s comprehensive clean energy strategy to meet standards outlined in the Virginia Clean Economy Act and to achieve the company’s net zero carbon dioxide and methane emissions commitment by 2050. This RFP will help the company continue to add additional renewable energy resources in order to meet those goals.
Notices of Intent to Bid and Confidentiality Agreements are due no later than 3:00 PM EST on February 22, 2021 with Purchase and Sale Proposal submittals are due no later than 3:00 PM EST March 22, 2021.
Learn more about this exciting renewable energy RFP with help from The Bid Lab! We will gladly review the RFP’s proposal requirements with you, including the purchase and sales agreement terms, as well as the evaluation criteria. Our experience will then guide your way through the entire RFP response process. In addition, we will implement our tried and true methods to organize your data, processes, and people. Contact us today to see how we can make your experience a positive and informative one!