The Massachusetts Department of Energy Resources (DOER) and the electric distribution companies (EDCs) have jointly issued a Request for Proposals (RFP) for Massachusetts’ fourth and largest offshore wind solicitation to date.
The RFP invites submittals for offshore wind generation to select up to 3,600 MW, which represents 25 percent of the state’s annual electricity demand and. Bidders can offer proposals of between 200 MW and 2400 MW.
To account for challenges driven by inflation and other macroeconomic trends, the RFP permits bidders to submit an alternative indexed pricing proposal intended to reduce risk to ratepayers and bidders. The RFP provides for the potential for savings resulting from federal tax credits, and requires details on how bids would use applicable tax credits. It also allows for flexibility in the schedule if IRS program guidance on the Inflation Reduction Act is announced late in the bid preparation timeline to allow time for bidders to incorporate the guidance. Under the RFP’s timeline, bids are due January 31, 2024.
