Power Group Online Article |  | |
28 July 2006 -- Pacific Gas and Electric Co. announced it has entered into contracts with IAE Truckhaven I, LLC and Northwest Geothermal Company to purchase up to a total of 169 MW of renewable geothermal energy resources to help meet its customers' future electricity needs.
PG&E currently supplies 32 percent of its customer load from renewable resources: 20 percent from its large hydroelectric facilities and 12 percent from smaller renewable resources that qualify under the State's Renewable Portfolio Standard (RPS) Program.
These are the fourth and fifth contracts originating from the 2005 RFO solicitation and bring the total renewable generation added as a result to 274 MW. PG&E is currently in discussion with additional market participants that submitted bids in the 2005 RFO solicitation and anticipates submitting additional contracts for renewable energy in the next few months.
California's RPS Program requires each utility to increase its procurement of eligible renewable generating resources by 1 percent of load per year to achieve a 20 percent renewables goal. These two contracts increase PG&E's 2005 RFO procurement to approximately 2.5 percent of load, 2.5 times the annual target. The RPS Program was passed by the Legislature and is managed by California's Public Utilities Commission and Energy Commission.
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