Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 51

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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GE under a 30-year PPA.

•Seaside Grid—The 200 MW Battery Energy Storage System (BESS) facility, located in Portland, Oregon was placed in service on July 8, 2025 and is owned by PGE. As of June 30, 2025, the Company has recorded $340 million, including AFUDC, in construction work-in-progress (CWIP) for the Seaside Grid.

•Constable BESS (formerly Evergreen)—The 75 MW BESS facility, located in Hillsboro, Oregon was placed in service on December 20, 2024 and is owned by PGE.

•Sundial BESS (formerly Troutdale Grid)—The 200 MW BESS facility, located in Troutdale, Oregon reached commercial operations on December 20, 2024. NextEra Energy Resources, LLC owns the resource and sells the capacity to PGE under a 20-year agreement.

The agreements related to Clearwater and all BESS agreements represent the final procurement from the 2021 All-Source RFP. Resources required to meet the remaining 2030 need are anticipated to be procured through future acquisition processes, including, but not limited to, the 2023 All-Source RFP and future RFPs. 

The BESS facilities qualify for federal investment tax credits (ITCs). The agreements related to Clearwater qualify for production tax credits (PTCs) and are eligible under Oregon’s Renewable Portfolio Standard (RPS) .

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PGE filed notice with the OPUC in January 2023 that an RFP was needed to procure resources to meet forecasted capacity shortfalls and to make continued progress toward decarbonization targets under HB 2021. These actions were consistent with the 2023 IRP Action Plan. PGE filed the draft 2023 All-Source RFP with the OPUC in May 2023 and regulatory approval was granted in January 2024. The Company issued the 2023 All-Source RFP to market in February 2024, seeking bids for resources that can provide non-emitting dispatchable capacity and renewable generation. 

After a robust and competitive bidding process performed in accordance with Oregon's competitive bidding rules, and with the active participation of, and oversight by, an OPUC-selected third-party independent evaluator, on September 17, 2024, PGE submitted a request for acknowledgement of the final shortlist of bidders to the OPUC. The final shortlist was acknowledged