Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 87

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 87
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.  See Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Initiatives and Challenges — Natural Gas-Fired Units in the Annual Report for additional information regarding this project and Note 21 — Contingencies and Legal Proceedings — Legal Proceedings — Challenge to Kingston Construction Permit in this Quarterly Report for information about a challenge to the Kingston construction permit.

In 2024, TVA made available to the public a draft environmental impact statement ("EIS") to assess the impacts associated with the construction and operation of a 500 MW simple cycle CT at New Caledonia on TVA land.  The final EIS was published in January 2025, and TVA documented its final decision with the Record of Decision on February 13, 2025.  TVA is also exploring a 200 MW aeroderivative CT project at TVA's Allen site, and the draft EIS was made available for public comment 

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in March 2025.  See Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Initiatives and Challenges —  Optimum Energy Portfolio —  Natural Gas-Fired Units in the Annual Report.

Renewable Power Purchase Agreements.  TVA issued a carbon-free RFP in 2022, and in the second quarter of 2025, TVA signed one power purchase agreement for 150 MW of solar generation.  In total, TVA signed seven power purchase agreements totaling 1,141 MW of solar generation and 220 MW of battery storage capacity from the carbon-free RFP which are expected to come online by the end of CY 2028.  See Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Initiatives and Challenges — Renewable Power Purchase Agreements in the Annual Report.

Self-Directed Solar.  TVA has elected to pursue a competitive selection process with third parties for the development of a photovoltaic solar facility and plans to enter into a long-term PPA to purchase the energy generated by the facility.  A draft EIS was made available for public comment in January 2025.  See Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Initiatives and Challenges —  Optimum Energy Portfolio —