Q1) How much paired storage is Vectren seeking in this RFP?
A1) Vectren does not have a specific targeted capacity for paired storage. However, approximately 100 MW (4-hour duration) storage paired with 400 MW of solar was included in the preferred portfolio of the 2019/2020 IRP. Please reference the final stakeholder presentation on Vectren's website for more information on the preferred portfolio: https://www.vectren.com/irp.
Q2) Regarding the proposal evaluation fee, does one project offered with two pricing structures equate to two proposals?
A2) No, Vectren encourages Respondents to offer their projects in a variety of ways. Projects that are offered as PPA and Purchase options will count as one Proposal as it relates to the evaluation fee. Projects that offer several PPA term lengths and/or PPA settlement at different locations (Project busbar, Vectren’s load node, or Indiana Hub) will also not be considered separate Proposals.
Q3) Will Vectren consider any stand alone energy storage for this RFP?
A3) No, storage must be paired with a solar resource at the same location.
Q4) How should multiple pricing options (e.g. different term lengths or escalation rates) for the same project be submitted?
A4) A separate Appendix D should be submitted for each pricing option. The non-pricing specific information should be duplicated in each Appendix D.
Q5) What exactly qualifies as verifiable site control?
A5) Please provide all written documentation that demonstrates site control and a narrative of all actions taken to minimize development risk related to site control.
Q6) Is there a maximum PPA term that Vectren will entertain?
A6) There is no maximum term limit for a PPA.
Q7) Are variations in PPA price escalation for a project still considered one proposal?
A7) Yes, variations in PPA price escalation for the same project are still considered one proposal.
Q8) Regarding the security requirements – Section 11 of the RFP states that PPA offers will require collateral of 12-months expected revenues. When does this start? At execution of definitive agreement, regulatory approval, or COD?
A8) For PPAs, bidders can expect to post development security after definitive agreement is in place until COD. After COD some amount of operating security will also be required. The specific amounts and terms of the security will be negotiated as part of the definitive agreement. Collateral amounts in Table 4, Section 11 of the RFP should be used as a guide to standardize bid pricing. The form of the security, whether parent guaranty, surety bond, cash, etc., will be dependent on the vendor’s credit worthiness and other project risk factors, and will be negotiated in detail during the definitive agreement.
Q9) If a potential project is currently in the MISO queue for ERIS service but would be able to obtain NRIS service prior the acquisition date/PPA start date, is this acceptable?
A9) That proposal would be acceptable if NRIS service is obtained prior to the acquisition date or PPA start date. Documentation should also be provided to clearly outline how NRIS would be acquired and the proposal should include all costs to obtain NRIS service.
Q10) Assuming the 2023/2024 PRA is March 30, 2023. Do I understand correctly that a project delivered to Vectren between March 30, 2022 and March 30, 2024 would earn the full 30 points for scoring?
A10) Projects that are delivered in time to provide full accreditation starting in the 2023/2024 PRA will receive full credit (30 points). Projects that deliver accreditation starting in the 2022/2023 or the 2024/2025 PRA will receive 25% fewer (22.5) points.
Q11) Is there a term sheet or form PPA for the Vectren RFP respondents should review in advance of submission?
A11) Due to the uniqueness of each project, we will not provide a template term sheet or boilerplate contract at this time. We will negotiate individual terms & conditions with selected vendors after project evaluation.