Alabama Power accepting requests for dispatchable energy proposals through Sept. 1

BIRMINGHAM, Ala., July 17, 2023 /PRNewswire/ -- Alabama Power is seeking proposals for dispatchable capacity resources through Friday, Sept. 1.

On July 14, the company issued a request for proposals (RFP) for resources to help meet future energy needs. Alabama Power is seeking market offerings to identify projects to meet the needs of our 1.5 million customers with reliable and affordable service.

"We're committed to serving our customers with the most dependable service possible," said Noel Cain, Alabama Power's director of Forecasting and Resource Planning. "This RFP is an opportunity to test the market for energy projects that meet our criteria while making economic sense."

Under the RFP, Alabama Power will consider proposals with a project capacity rating between 100 and 1,200 megawatts each. 

Qualifying proposals can be power purchase agreements (PPAs) or asset purchase and sales agreements (existing or new-build/transfer). PPA terms can be from five to 20 years. Bidders are permitted to propose multiple projects.

All projects must be dispatchable, reliable and available to meet Alabama Power's future summer and winter capacity needs by Dec. 1, 2028. Projects completed as early as 2025 will be considered.

Any project considered by the company would ultimately require approval by the Alabama Public Service Commission.

All bids require a non-refundable bidder's fee. Proposals that pass an initial evaluation are subject to additional due diligence analysis fees.

Notice of Intent to Bid ("NOI") forms are due by 5 p.m. CDT on July 28, 2023. All bids are due by 5 p.m. CDT on Sept. 8, 2023.

For more information, visit alabamapower.com/RFP2023.

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SOURCE Alabama Power Company