AES Indiana — 2023 AES Indiana All-Source RFP Information Session
28 slides from AES Indiana's conference presentation, May 3, 2023
Slide 1: Information Session: 2023 AES Indiana All-Source RFP
Information Session: 2023 AES Indiana All-Source RFP Presentation by Sargent & Lundy May 3, 2023
Slide 2: Agenda
Agenda • Introduction • Milestone Schedule • Question Submittals • Scope of Supply • Evaluation and Submittal Requirements • Credit Qualification and Collateral • Completeness Checklist • Summary This presentation will be posted to the 2023 ASRFP Information Website. 2
Slide 3: Introduction
Introduction Q@S Indiana Sarge
Slide 4: Introduction—AES Indiana
Introduction—AES Indiana • Generates, distributes, and sells electricity to AES Indiana Service Territory 500,000+ customers in greater Indianapolis area • Subject to regulation from Indiana Utility Regulatory Commission (IURC) and FERC • Participates in MISO market • Soliciting offers for near-term
Slide 5: RFP Background
RFP Background 2022 Integrated Resource Plan 2023 All-Source RFP • Unprecedented market changes • Requesting competitive proposals for energy and • MISO’s Seasonal Resource Adequacy Construct capacity to be available during: • Inflation Reduction Act • 2025–2026, 2026–2027, and/or 2027–2028 • Volati
Slide 6: Milestone Schedule
Milestone Schedule Q@S Indiana Sarge
Slide 7: Milestone Schedule
Milestone Schedule Milestone Date RFP Released to Public April 7, 2023 RFP Webinar May 3, 2023 Respondent Clarification Submittal Deadline 5:00 p.m. CST May 16, 2023 Respondent Proposal Submission Date June 30, 2023 Conclusion of Phase I Evaluation Selection of Shortlisted Proposals Q3 2023 Conclusi
Slide 8: Clarification Submittals
Clarification Submittals Q@S Indiana Sarge
Slide 9: Question Submittals
Question Submittals • All questions must be submitted using the question form on the RFP website • Written responses to be posted on RFP website • Identifying information from questions to be removed • Requests for additional information to be sent to AESI2023ASRFP@sargentlundy.com Under no circumst
Slide 10: Scope of Supply
Scope of Supply Q@S Indiana Sarge
Slide 11: Scope of Supply—General
Scope of Supply—General • Must meet MISO reliability agreements, procedures, and standards Examples of Eligible Capacity Resources • Energy settled or directly delivered to the (New, Existing, or Repowered) IPL.IPL node preferred Wind • Otherwise, resources must have energy Solar settled/delivered t
Slide 12: Scope of Supply—General
Scope of Supply—General Items to be identified and included in each proposal: • Costs of required infrastructure, if applicable • Costs of property, state, and local taxes and tax abatements • Specific point(s) of interconnection, including type(s) of transmission service • Nodal economic analyses u
Slide 13: Scope of Supply—Asset Transfers
Scope of Supply—Asset Transfers General Characteristics: • Transfer of land rights controlled by respondent to AES Indiana • Transfer of assets during development phases is acceptable but must have, at minimum, completed early phase development activities as defined in the RFP • Proposals with trans
Slide 14: Scope of Supply—PPAs
Scope of Supply—PPAs Characteristics: • Minimum of 5 years and maximum of 30 years • Start date in MISO planning years 2025–2026, 2026–2027, or 2027–2028 • Qualification for zonal resource credits for the planning resource auction • Fuel delivery history for the last 5 years describing fuel: (a) sou
Slide 15: Evaluation and Submittal Requirements
Evaluation and Submittal Requirements
Slide 16: Proposal Evaluation—Overview
Proposal Evaluation—Overview Phase 1 Phase 2 Initial screening of Selection for proposals based on negotiations based on initial qualitative and detailed qualitative and pricing evaluation economic evaluation 16
Slide 17: Proposal Evaluation—Phase 1
Proposal Evaluation—Phase 1 • Categorize proposals by technology and agreement type Initial Qualitative Scoring • Review information in proposal data forms Category Available Points LCOE/LCOS Evaluation 500 • Calculate LCOE/LCOS Technical Viability 100 • Develop initial qualitative score from 4 cate
Slide 18: Proposal Evaluation—Phase 2
Proposal Evaluation—Phase 2 • Refines Phase 1 pricing evaluation and determines cost effectiveness of the evaluated proposals • Qualitative criteria detailed in RFP • Following Phase 2 evaluations, AES Indiana will select proposals to proceed with contract negotiations • During negotiations, AES Ind
Slide 19: Submittal Requirements
Submittal Requirements • Formatted per RFP Section 3 • Same contact name, email address, and company name for each uploaded document • Respondents cannot see or edit uploaded documents once sent Proposal Quantity Fee First 3 proposals* $0 Each proposal thereafter* $5,000/proposal * Sargent & Lundy w
Slide 20: Credit Qualification and Collateral
Credit Qualification and Collateral
Slide 21: Credit Qualification
Credit Qualification Credit Worthiness Standards: • S&P BBB- or higher rating for senior unsecured debt and/or corporate issuer (or Baa3 or higher for Moody’s or BBB- or higher for Fitch) • Minimum investment grade credit rating—most recently published, unsecured senior long-term debt rating (or cor
Slide 22: Credit Qualification
Credit Qualification Asset Transfers: • Must post definitive agreement (DA) collateral as determined in accordance with the proposal if selected • DA collateral must be posted at the execution of the DA and will be in force until transfer of title to AES Indiana PPAs: • May be required to post opera
Slide 23: Credit Collateral
Credit Collateral Capacity Asset DA Collateral Collateral Amount New Generation Facility Developmental Security $20.00/kW upon execution of DA New Generation Facility Developmental Security $75.00/kW upon regulatory approval Existing Generation Facility Maintenance Security 12 months expected total
Slide 24: Completeness Checklist
Completeness Checklist Q@S Indiana Sarge
Slide 25: Proposal Completeness Checklist
Proposal Completeness Checklist RFP Appendix C, Schedule A • Guide to confirm that all forms have been completed • Respondents must verify that all information is submitted in line with RFP requirements • Respondents shall make every effort to convey all requested details of their proposal(s) in the
Slide 26: Summary
Q@S Indiana Sarge
Slide 27: Key Details Summary
Key Details Summary Milestone Date Submission Deadline: Clarifications May 16, 2023 (5:00 p.m. CST) Submission Deadline: Proposal June 30, 2023 All questions/clarification requests to be submitted through the 2023 ASRFP Q&A Form 27
Slide 28: & Lundy, & L.L.C. Copyright Sargent
Copyright 2023 Copyright 2023 Sargent Sargent & Lundy,&L.L.C. Lundy, L.L.C.
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