09:47 AM

SRP to Issue 2024 All-source RFP for New Power Generation Resources

SRP will seek up to 1,200 MW of peak electrical generating capacity, 2,500 MW of carbon-free capacity between 2028 and 2029.

The Phoenix metropolitan area continues to have one of the fastest growth rates in the nation, with no signs of slowing. In its recent Integrated System Plan, SRP found that it will need to double or triple power resource capacity from a wide range of technologies to meet projected energy demand and achieve its 2035 sustainability goals.

To stay on track to meet these significant power resource needs, SRP plans to issue a new All-Source Request for Proposals (RFP) later this month. The RFP will seek competitive proposals for up to 1,200 MW of peak electrical generating capacity and up to 2,500 MW of carbon-free capacity with commercial operation dates between 2028 and 2029. SRP will also consider proposals for resources that require longer development times, not estimated to be online until 2030 or later.

“It has taken SRP more than 100 years to grow its power system to the size it is today,” said Grant Smedley, Director of Resource Planning at SRP. “To double or triple the generation capacity in only 10 years will be an incredible undertaking, and we will need to work diligently with project developers and other partners to implement this ambitious plan.”

SRP will evaluate and compare proposals that meet the minimum requirements identified in the RFP, including SRP self-developed resource options. SRP currently serves customer energy needs with a diverse fuel mix including nuclear, hydroelectric, natural gas, coal, battery storage and renewable resources including solar, wind, biomass and geothermal.

Despite serving one of the fastest growing service territories in the country, SRP is taking significant,  industry-leading steps to decarbonize its power generation portfolio. In the last three years, SRP has tripled its prior-decade investment in renewable resources and plans to add six times more renewables in the next ten years. This is while SRP simultaneously retires 1,300 MW of coal operating on its power system.

Resource projects selected through this All-Source RFP process will support SRP’s 2035 Sustainability Goals and outlined resource growth plans in SRP’s Integrated System Plan.

SRP will announce when the RFP is issued in late February 2024, and it will posted on SRP’s website here: srpnet.com/AllSourceRFP.

About SRP

SRP is a community-based, not-for-profit public power utility and the largest electricity provider in the greater Phoenix metropolitan area, serving approximately 1.1 million customers. SRP provides water to about half of the Valley’s residents, delivering more than 244 billion gallons of water (750,000 acre-feet) each year, and manages a 13,000-square-mile watershed that includes an extensive system of reservoirs, wells, canals and irrigation laterals.