Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 52

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 approximately 1,000 MW of renewable resources and non-emitting dispatchable capacity, PGE entered into agreements to acquire resources as follows:

•Clearwater—PGE owns 208 MW of production capacity of the wind facility, located in Eastern Montana. Subsidiaries of NextEra Energy Resources, LLC, which operates the facility, owns the remaining 103 MW of production capacity and sells their portion of the output to PGE 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.

•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 and 2025 All-Source RFPs 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). These projects are estimated to produce approximately $262 million in combined ITC and PTC benefits over time on behalf of customers.

2023 All-Source RFP

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