FORT WAYNE, Ind., March 15, 2022 – Indiana Michigan Power, an American Electric Power (Nasdaq: AEP) company, has issued a request for proposals (RFP) for facilities that will generate approximately 800 megawatts (MW) of wind energy and approximately 500 MW of solar power.
I&M's invitation for bids offers private sector developers the opportunity to propose the best and most cost-effective projects to add significant renewable energy resources to I&M's diverse generation fleet. I&M currently operates five solar farms and purchases power from four Indiana wind farms. In 2021, more than 80% of the energy I&M generated was emission-free.
The resources being sought in this RFP align with I&M’s Powering the Next Tomorrow plan. Powering the Next Tomorrow was described in I&M’s Plan de Recursos Integrados, which was submitted to state utility regulatory commissions in both Indiana and Michigan earlier in 2022. I&M expects some of the new renewable resources to be online by as early as the end of 2024 and the full 1,300 MW to be online as early as the end of 2025.
"This RFP is designed to provide qualified developers the opportunity to bring forward wind and solar projects that can be used to serve Indiana Michigan Power customers," said Dave Lucas, I&M vice president for Regulatory and Finance. "These new resources will combine with I&M's existing generation to provide an even more diversified and flexible generation portfolio that will stabilize energy costs over time, stimulate economic growth, reduce emissions and take advantage of new technologies."
Indiana Michigan Power’s RFP is open and non-discriminatory, which provides bidders the opportunity to submit proposals that incorporate battery storage, emerging technologies and other resources to supplement the portfolio and provide for optimum performance and affordability.
I&M prefers projects that will provide economic benefit to the states of Indiana and/or Michigan and encourages the use of local resources where feasible. The RFP also calls for successful bidders to use reasonable efforts to utilize small and diverse suppliers as subcontractors for work.
The RFP calls for solar projects within Indiana and/or Michigan, while wind projects – which require availability of large amounts of land – can be in those states as well as Illinois or Ohio.
Bids are due April 21, and I&M plans to have contracts with the successful developers by the end of 2022. The selected resources will be submitted to state regulatory commissions in Indiana and Michigan for their review and approval.
I&M has engaged Charles River Associates to serve as an independent monitor for the RFP and incorporate input from groups representing customers and other stakeholders into the competitive procurement process.
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ABOUT INDIANA MICHIGAN POWER: Indiana Michigan Power (I&M) is headquartered in Fort Wayne, and its approximately 2,100 employees serve more than 600,000 customers. Más del 80% de la energía eléctrica que proporcionó en 2021 fue libre de emisiones. I&M has at its availability various sources of generation including 2,278 MW of nuclear generation in Michigan, 450 MW of purchased wind generation from Indiana, more than 22 MW of hydro generation in both states, nearly 35 MW of large-scale solar generation in both states, and 2,620 MW of coal-fueled generation in Indiana.
ABOUT AMERICAN ELECTRIC POWER: American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP’s approximately 16,700 employees operate and maintain the nation’s largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 5,900 megawatts of renewable energy. The company’s plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2030. AEP está encaminada para lograr una reducción de las emisiones de dióxido de carbono del 80% respecto de los niveles de 2000, a más tardar, en 2030 y tiene el compromiso de alcanzar las cero emisiones netas para 2050. AEP recibe reconocimientos de manera constante por su enfoque en la sustentabilidad, la participación comunitaria y la diversidad, igualdad e inclusión. AEP’s family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP también es propietaria de AEP Energy, que brinda soluciones energéticas competitivas e innovadoras en todo el país.
CONTACTO CON LOS MEDIOS DE COMUNICACIÓN
Tracy Warner
Indiana Michigan Power Communications
260-479-9484
tkwarner@aep.com