Iberdrola Renewables Issues Reverse RFP for 593MW of Wind Energy
Posted on: Friday, 30 May 2008, 03:00 CDT
Spanish clean energy firm Iberdrola Renewables has announced that it is issuing a reverse request for proposal for the output associated with three wind farms being developed by the company in the US states of Illinois, Missouri and North Dakota.
All parties selected for further negotiations for power purchase agreements will be contacted to further negotiate contract specifics in early July 2008.
Iberdrola Renewables is accepting bids for the purchase of energy and renewable energy credits and capacity, for its three projects including Farmers City Wind, expected to produce 144MW and located in Missouri; Streator Cayuga Ridge South, anticipated to produce 300MW and located in the PJM grid in northern Illinois; and Rugby Wind, expected to produce 149MW and located in the MISO grid in North Dakota.
Iberdrola Renewables has stated that it reserves the right under this reverse request for proposal (RFP) to select or reject any or all proposals received through the process, contingent upon the extension of the federal renewable energy production tax credit, and the receipt of bids that meet the organization's credit and financial return requirements.
Source: Datamonitor
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