Pacific Gas and Electric Co. (PG&E) has announced that its 2011 solicitation for new supplies of renewable energy brought in more than 300 offers, representing a new record for the California utility.
PG&E says its energy procurement staff is reviewing the proposals closely to determine the most viable and cost-effective projects to meet customers' long-term renewable energy needs.
Once the utility determines which of the new offers best suit its customers' needs for clean energy, it will engage selected developers in negotiations, with the goal of submitting executed contracts to the California Public Utilities Commission by mid-year for review.
‘The highly competitive proposals we received offer affordable power to help us achieve the state's renewable energy targets,’ notes Fong Wan, senior vice president for energy procurement at PG&E. ‘The tremendous response to our request reflects the robust supplies being offered by the renewable energy industry, which California has fostered through its aggressive state mandates.’
Since 2002, PG&E has signed more than 110 contracts for about 10 GW of renewable energy. The utility now expects to be able to meet California's renewable portfolio standard.