PGE Seeks 100 Average Megawatts of New Renewable Resources
May 22 2018 - 4:49PM
Business Wire
Bids for prospective resources are due June
15, 2018
Portland General Electric Company (NYSE: POR) is continuing its
push for a clean and reliable energy future for its customers and
the communities it serves by issuing a request for proposals today
seeking an additional 100 average megawatts of renewable power
generating resources. PGE shared the RFP in draft form with
potential bidders and stakeholders earlier this year, and on May 16
received final Oregon Public Utility Commission sign-off to move
forward with the competitive bidding process. After final
adjustments to reflect commission direction, the RFP is now open
for bids.
“We are committed to reducing our greenhouse gas emissions,”
said Maria Pope, PGE’s president and CEO. “Continuing to add
renewable resources to our mix while keeping electricity affordable
for our customers is key to that effort.”
RFP details and process
Bids submitted must meet a minimum size of 10 megawatts, and can
represent multiple technologies including geothermal, biomass,
biogas, solar, wind and hydroelectric power. Bids can also be
structured in a variety of ways, including power purchase
agreements or proposals for facilities that PGE would own and
operate. If bids received prove cost effective for service to
customers, PGE may acquire a single resource or a mix of resources
to achieve the total desired renewable energy target, and expects
the resources acquired to be brought into the company’s portfolio
no later than 2021.
The RFP is a significant step in implementing PGE’s current
integrated resource plan, which the OPUC acknowledged in 2017, and
will be conducted under guidelines established by the
commission. Consistent with those guidelines, the OPUC has retained
an independent evaluator, Bates White, to monitor PGE’s procurement
process. Bates White is hosting a website where bidders and
stakeholders may ask questions of PGE regarding the RFP so that the
answers will be available to all participants in the process. The
RFP and supporting documents are available on the website at
www.portlandgeneralrfp2018.com.
About Portland General Electric Company: Portland General
Electric (NYSE: POR) is a fully integrated energy company based in
Portland, Oregon, serving 877,000 customers in 51 cities. For more
than 125 years, PGE has been delivering safe, reliable energy to
Oregonians. With 2,900 employees across the state, PGE is committed
to building a cleaner, more efficient energy future. Together with
its customers, PGE has the number one voluntary renewable energy
program in the U.S. For more information, visit
PortlandGeneral.com.
Safe Harbor Statement
Certain statements contained in this press release may
constitute forward-looking statements that are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. They are not guarantees of future events. Rather, they
are based on current expectations, estimates, beliefs and
assumptions and are subject to uncertainties that are difficult to
predict. As a result, actual events or results may differ
materially from the statements made. Forward-looking statements
made in this press release include statements regarding the
company’s energy strategy for future periods, the implementation
and outcome of requests for proposals, and the acquisition of
additional resources to meet retail customer demand and the
requirements of Oregon’s Renewable Energy Standard. These
forward-looking statements are based upon our assumptions about and
assessment of the future, which may or may not prove true, and
involve a number of risks and uncertainties including, but not
limited to, risk factors detailed in the Company’s most recent
Annual Report on Form 10-K, the Company’s reports on Form 10-Q and
other filings with the United States Securities and Exchange
Commission.
POR-FSource: Portland General Electric Company
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version on businesswire.com: https://www.businesswire.com/news/home/20180522006370/en/
Portland General Electric CompanySteve Corson,
503-464-8444Steven.Corson@pgn.com
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