Requests for proposals

Bid specification number: HQ24-1876
Status: Open
Start date: 02/22/24
End date: 04/24/24

Description:

Platte River’s goal is to purchase up to 200 MW of Dispatchable Resources, interconnected at transmission voltage (“Procurement Target”), that will qualify as Accredited Capacity for resource adequacy purposes. The Procurement Target may consist of multiple resources. Platte River will not consider Projects with aggregate nameplate capacity (that responds simultaneously to a single dispatch signal) of less than 40 MW. To reliability, Platte River will consider only Projects with redundant systems or multiple (three or more) independently operating facilities, blocks or units to meet the Procurement Target. Platte River may elect to procure a different amount or not to procure. Purchase decisions will be based on the best value at the least risk to Platte River considering the availability of cost-effective Bids, resource dispatch flexibility, locational diversity on Platte River’s system, and Project viability.

Participants’ Bids should explain how the Project will interconnect with Platte River’s transmission system. If applicable, the Participant must include the cost of a generator tie-line or required third-party firm point-to-point transmission service and any network upgrades. The Participant must also include any third-party scheduling and dispatch service or third-party reactive power and voltage control service costs in its Bid, if needed.

Financial review form:

Short Listed Bidders must provide all required financial information requested on the Vendor Financial Review form. Failure to submit the requested information will result in the denial of the Participant.

Schedule:

The RFP schedule is below. Deadlines are at 5:00 P.M. Mountain Time, unless otherwise noted. To be considered for this RFP, Participants must deliver a Bid conforming to these bid specifications to Platte River before 5:00 P.M. Mountain Time on Wednesday, April 24, 2024.

The RFP schedule may change at Platte River’s sole discretion at any time and for any reason. Platte River will notify Participants that submit an NOI of any schedule changes. Platte River is not liable for any costs or damages incurred by Participants or any other party due to a schedule change or for failing to provide notice of a schedule change.

Events and requirements in the RFP schedule:

Platte River issues the RFP: All Platte River-issued documents associated with this RFP are posted on the Platte River website: https://www.prpa.org/RFPs. The documents that Participants must submit with any Bids are outlined in the “List of RFP Attachments & Link.”

Deadline for NOIs: Platte River strongly suggests that participants submit NOIs, provided as Attachment A, before submitting their Bids. Although an NOI is not required to submit a Bid, Platte River will send RFP-related communications only to Participants that provide NOIs. Participants will not be bound by the information provided in an NOI but are expected to provide accurate information. Submitting an NOI will enable Platte River to discuss proposed Project Facilities with interested Participants. Participants should email a completed NOI to dispatchableresourceRFP2024@prpa.org. Include “Dispatchable RFP Notice of Intent” in the email subject line when submitting NOIs.

Deadline for RFP questions: Participants with questions related to this RFP must submit a written question or request for an interpretation or correction by the question submission deadline, listed in Section 1.4, via email to dispatchableresourceRFP2024@prpa.org. Include “Dispatchable RFP Question” in the email subject line when submitting questions. Platte River will acknowledge receipt of Participants’ questions via email.

RFP question responses from Platte River: Platte River may provide written responses to Participants’ questions on or near the date listed in Section 1.4. Platte River will not provide oral responses to questions about this RFP. All Platte River responses to questions will be sent via email to all entities that submitted an NOI.

Bid proposal deadline: Bids are due to Platte River before the date specified in Section 1.4. Participants may submit multiple Bids for variations of each Project Facility at any location, provided as Attachment B, to dispatchableresourceRFP2024@prpa.org. Include “Dispatchable RFP Bid Proposal” in the email subject line when submitting Bids. Participants must confirm that Platte River received their electronic Bids. Platte River will acknowledge receipt of Participants’ Bids via email. If Bids are incomplete or require clarification, Platte River will attempt to contact individual Participants to resolve any issues but may, in its sole discretion, deem Bids incomplete. Platte River will not evaluate incomplete Bids.

Bid evaluation: Platte River will evaluate Bids as described in Section 4. Platte River may request a meeting or conference call to discuss a Participant’s Bid if it has questions or needs clarification.

Shortlist process: After evaluating Bids, Platte River will notify Participants whose Projects are selected for further evaluation (“Short Listed Bidders”). A Short Listed Bidder must sign an MNDA, provided as Attachment C, within five business days of notification (unless an MNDA is already in place between Platte River and the Short Listed Bidder). Short Listed Bidders must pass a Financial Review. The Vendor Financial Review Form located at https://www.prpa.org/vendor-financial-review-form/ will be required from the Short Listed Bidders. Platte River may request additional information, if needed, to conduct the Financial Review. Should a Short Listed Bidder not sign the MNDA or pass the Financial Review, its Bids will be removed from the Short List and not evaluated further.

Term Sheet Negotiation: Platte River acknowledges that not all Project Facilities will have the same commercial terms or Project Facility attributes. Platte River anticipates Short Listed Bidders with Projects identified for final selection will negotiate and sign a detailed Bid‑Specific Term Sheet that would (1) reflect the terms of the Participant’s Bid and (2) lay out guiding principles for good-faith negotiations between Platte River and the Participant to prepare and sign mutually acceptable Project Agreements. Platte River will negotiate Project Agreements only with Participants whose Bid-Specific Term Sheets are most advantageous to Platte River and provide the best overall value.

Negotiating Project Agreements: Platte River may begin negotiations for Project Agreements once Bid-Specific Term Sheets are complete and signed. Project Agreements will reflect the elements specified in the signed Bid-Specific Term Sheet, along with other terms, conditions, representations, warranties, and indemnities customary in similar transactions. Not all Short Listed Bidders that have signed a Bid-Specific Term Sheet will enter into Project Agreements. Platte River may sign multiple Project Agreements to help meet its Procurement Target, subject to Section 1.6. Platte River may also decline to select any or all Participants under this RFP.

Finalizing and Signing Project Agreements: Once Platte River and the successful Participant or Participants finish negotiations, reviews, and required approvals, they will exchange signed copies of the Project Agreements.

RFP close out: This RFP will be closed out once Platte River is on track to achieve its Procurement Target or sooner if Platte River decides to reject all Bids or otherwise end or limit this RFP. Platte River will notify all Participants when the RFP is closed out.

RFP and attachments can be obtained through the following links: