Competitive bidding process now open as part of continuing REDI program
Atlanta, GA /PRNewswire/ - Georgia Power continues to grow renewable energy in Georgia through the Renewable Energy Development Initiative (REDI), as approved by the Georgia Public Service Commission (PSC) in 2016. REDI authorizes Georgia Power to procure 1,200 MW of renewables through multiple programs. The final REDI solicitation is underway, and Georgia Power is now accepting bids for utility scale renewable projects through a Request for Proposals (RFP) for 540 megawatts (MW) to fulfill the remaining capacity of the REDI Utility Scale procurement.
"We are proud of the principles that we have built upon with REDI, such as competitive bidding, as we continue to procure renewable energy from cost effective resources to maximize the benefits for our customers," said Wilson Mallard, director of Renewable Development for Georgia Power. "Georgia Power has worked with the PSC to be a national leader in renewable energy and we are eager to receive, review and select projects from this RFP that will provide significant long-term value."
Georgia Power is soliciting eligible renewable energy (e.g. solar, wind or biomass) projects greater than 3 MW, up to 540 MW in size in this RFP. The solicitation also allows for proposals that include energy storage in conjunction with a renewable resource. The RFP is being conducted with oversight by the Accion Group, Inc., which is serving as the Independent Evaluator for the process. Interested parties are invited to review terms of the RFP and submit proposals here by noon on January 15, 2019.
In late 2017, Georgia Power awarded power purchase agreements (PPAs) for 510 MW of new solar projects in the first phase of REDI's utility scale procurement. Three projects are currently under development in Central, South and Southwest Georgia and represent the largest individual solar projects in Georgia to date.
Through programs and projects developed in coordination with the Georgia PSC, Georgia Power is committed to maintaining a diverse generation portfolio, while providing customers with renewable energy options. With 976 MW* of solar capacity currently online, the company continues to grow the largest voluntary renewable portfolio in the nation. Through continued implementation of REDI, as well as other solar projects and programs, Georgia Power expects to have added up to 1,600 MW* of additional renewable resources by the end of 2021.
All customers will benefit from the projected long-term energy savings from the REDI large-scale procurements. Additionally, customers can support solar growth through optional programs such as Georgia Power Community Solar and Simple Solar. Community Solar gives residential customers who subscribe the opportunity to earn a bill credit based on actual solar energy production at Georgia Power's Community Solar facilities. The Simple Solar program is a solar renewable energy credit (REC) purchase program available to all customers that allows participants to claim solar benefits for either 50 percent or 100 percent of their energy usage.
To learn more about these or Georgia Power's other solar programs, as well as solar tools and resources for customers, visit www.GeorgiaPower.com/Solar.
* REC Disclaimer: Georgia Power purchases only the null energy output from some renewable generating facilities that have contracted to sell that energy to Georgia Power. Ownership of the associated RECs is specified in each respective power purchase agreement. The party that owns the RECs retains the right to use them.
About Georgia Power
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America's premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the Company's promise to 2.5 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy at rates below the national average, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the Company is consistently recognized by J.D. Power and Associates as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the Company on Facebook (Facebook.com/GeorgiaPower), Twitter (Twitter.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning expected renewable growth and related customer benefits. Georgia Power cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power's Annual Report on Form 10-K for the year ended December 31, 2017, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the ability to control costs and avoid cost and schedule overruns during the development and construction of generating facilities, to construct facilities in accordance with the requirements of permits and licenses, to satisfy any environmental performance standards and the requirements of tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; and potential business strategies, including acquisitions or dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Georgia Power. Georgia Power expressly disclaims any obligation to update any forward-looking information.
SOURCE: Georgia PowerCopyright 2018 PR Newswire. All Rights Reserved