The Tennessee Valley Authority on Tuesday issued a request for up to 5,000 megawatts of carbon-free energy that must be operational before 2029, which is one of the largest clean energy procurement requests in the nation.
“We are taking this bold, decisive action because TVA is uniquely positioned to lead in reducing carbon emissions for the region and the nation,” said Jeff Lyash, TVA president and chief executive officer. “This announcement is a clear signal to our industry, our partners, and our nation that we need to move further and faster, together, to make a cleaner future a reality.”
TVA is executing a defined strategy to reduce carbon from 2005 levels by 70% by 2030, 80% by 2035, and aspire to be net-zero by 2050. To support its carbon-reduction efforts, the agency is aggressively exploring and accelerating carbon-free technologies and moving to bring an additional 10,000 megawatts of solar energy capacity online by 2035.
“At TVA, we are outcome focused,” said Mr. Lyash. “We are committed to developing potential pathways to a clean energy future.”
RFP proposals must be submitted by October 19, 2022. Developers can review TVA’s request for proposal and submit bids at www.tva.com/Information/Doing-Business-with-TVA. TVA will announce selected projects in Spring 2023.
Clean energy is fueling growth across TVA’s seven-state service territory. Since 2018, TVA’s award-winning Green Invest program has generated over $3 billion in investment across its seven-state region. TVA believes its renewable energy programs are one element that helped drive the agency’s record-setting economic development performance in the first six months of fiscal year 2022 - attracting or retaining more than 40,900 jobs and more than $7.3 billion in capital investment.
Mr. Lyash said last year about 270 companies selected the Tennessee Valley to do business because of TVA’s low-cost, reliable and clean energy. The trend continues. In April, Envision AESC, a world-leading electric vehicle battery technology company, announced a 2,000 job, $2 billion investment to build a new battery factory in Bowling Green, KY, because of TVA’s renewable energy programs.
“Our region is the nation’s premier destination for business, and a big reason for that is because of TVA’s renewable energy efforts,” said Mr. Lyash. “Soon 2,000 families will have good jobs and the Envision’s facility will be powered by 100% renewable energy.”
Mr. Lyash sees decarbonization as a strategic advantage and is taking a holistic approach. Last year the agency:
- Announced $2 billion in new transmission infrastructure investments (through 2025) to build the energy system of the future and improve grid capabilities.
- Launched additional exploration of technologies such as next-generation carbon capture, hydroelectric pumped storage and hydrogen.
- Partnered with Ontario Power Group, Oak Ridge National Laboratory, and Kairos Power to make the region a national epicenter for advanced nuclear technology research and development.
“There is no single answer to achieving our nation’s decarbonization and energy security goals,” said Mr. Lyash. “TVA is accelerating change across the industry to expand carbon-free technologies to decarbonize the grid while integrating emerging technologies through innovative solutions to meet customer-driven demand and build a future that leaves no one behind in the new clean energy economy.”
TVA places a high priority on transparency. Learn more about TVA’s decarbonization journey, diversity and inclusion efforts, strategic planning, financial health, new nuclear program and more at tva.com/about-tva/reports.