On 22nd February, the Puerto Rico Electric Power Authority (PREPA) issued a request for proposal to developers for the construction of 1 Gigawatt of renewable energy capacity and 500 megawatt (MW) of battery energy storage on the island for a supply period of up to 25 years. The proposals are expected to be selected in July and receive a regulatory approval by October 2021. The RFP is open to all forms of renewable energy, including solar photovoltaic, wind, energy storage, hydro, VPPs or any combination of said technologies. PREPA will accept proposals for all or a portion of the announced capacity. However, renewable energy resources offered on a stand-alone basis must have generating capacity of at least 20 MW. Projects awarded contracts under the RFP will be expected to achieve commercial operations within 24 months.
With approximately a 1.5 million customer base, PREPA is one of the largest public utilities in the United States by customer served. Pursuant to the Integrated Resource Plan (IRP) and final resolution and order issued by the Puerto Rican Energy Bureau on Aug. 24, 2020, over the next five years PREPA must engage in the procurement of new energy resources and the retirement of many of its fossil-fueled generating units. This is the first of six RFP tranches that Puerto Rico is planning on launching prior to 2025 with the goal of procuring a total of 3.75 GW of renewables and 1.5 GW of energy storage, which supports PREPA’s efforts to reach 40 percent of its electricity from renewable resources by 2025, 60 percent by 2040 and 100 percent by 2050. Link to the news: https://www.lexology.com/library/detail.aspx?g=3be1f8bf-5eb6-45af-a191-e17209ea15ed