Announcement of Peninsula Clean Energy 2024 RFO for Renewable Energy + Storage

Announcement of Peninsula Clean Energy 2024 RFO for Renewable Energy + Storage

Peninsula Clean Energy is pleased to announce the launch of our 2024 Request for Offers (RFO) for Renewable Energy + Storage. The RFO materials are available at https://www.peninsulacleanenergy.com/solicitation/rfo-for-renewable-energy-storage-2024/Offers are due by 5 p.m. PPT on Friday, June 28, 2024.

Other key dates include:

Friday, June 14, 2024 – Deadline to submit questions

All questions must be submitted through the form posted here.

Any other communications regarding this RFO, including final offer documents, should be sent to PenCleanEnergyRFO@peninsulacleanenergy.com.

Peninsula Clean Energy is inviting offers for the following offer types, as further described in the RFO Instructions:

  1. Renewable energy generating facilities from a variable resource (i.e. wind or solar)
  2. Renewable energy generating facilities from a firm resource (i.e. geothermal)
  3. Renewable energy generating facilities (either variable or firm) paired with storage
  4. Stand-alone storage projects

Peninsula Clean Energy is inviting offers from the following types of projects:

  1. Existing projects with Delivery Commencement of December 31, 2030, or earlier
  2. New/Repower projects with COD of December 31, 2030, or earlier

This RFO is intended for projects in CAISO’s Cluster 14 or earlier. Peninsula Clean Energy will NOT consider offers for projects in CAISO’s Cluster 15 as part of this RFO, unless they are WDAT projects not subject to LSE Point Allocation.

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About Peninsula Clean Energy

Peninsula Clean Energy is a Community Choice Aggregation agency. It is the official electricity provider for San Mateo County and the City of Los Banos in Merced County. Founded in 2016 with a mission to reduce greenhouse gas emissions in the San Mateo County, the agency serves over 310,000 customer accounts by providing more than 3,600 gigawatt hours annually of electricity that is carbon-free and at a lower cost than PG&E. Peninsula Clean Energy plans for and secures commitments from a diverse portfolio of energy-generating resources to reliably serve the electric energy requirements of its customers over the near-, mid-, and long-term planning horizons. As a community-led, not-for-profit agency, Peninsula Clean Energy makes significant investments in our communities to expand access to sustainable and affordable energy solutions. Peninsula Clean Energy is on track to deliver electricity that is 100% renewable by 2030.

In May 2019, PCE received an investment grade credit rating of Baa2 from Moody’s. In April 2020, it received an investment grade credit rating of BBB+ from Fitch. In June 2023, it received an A- rating from S&P Global, and was upgraded to Baa1 by Moody’s, the strongest indication yet of its financial stability as the organization preserves discounted power rates and accelerates renewable power procurement. As of December 31, 2023, PCE had cash and investments of $345 million, representing 351 days of cash on hand, significantly higher than PCE’s Board policy requirement of 180 days. PCE’s financial statements, including its fiscal year 2022-2023 audited financials, are available on its website at https://www.peninsulacleanenergy.com/key-documents. For more information on Peninsula Clean Energy, please go to https://www.peninsulacleanenergy.com/