Nov. 16, 2005 — The V.I. Water and Power Authority is on schedule with its search for an alternative/renewable energy source, according to a press release the Authority issued Wednesday.
Proposals from small power producers are due on Nov. 30 in accordance with the bidding process authorized by the Rate Reduction, Job Creation and Economic Stimulus Act of 2005. More than 15 companies have shown interest in the process. (See "Alt-energy Bidders See Light at End of WAPA Tunnel").
According to Alberto Bruno-Vega, executive director, WAPA will stick to the letter of the law in meeting the requirements of the Act, which Gov. Turnbull signed into law Sept. 19 after the legislature passed it.
By Jan. 20, 2006, proposals will be evaluated and presented to the WAPA Governing Board. Terms and conditions will be submitted on or before Feb. 16 to the Public Service Commission, which has a 30-day review period before the agreement can be finalized.
WAPA officials have stated that it is anticipated that the power purchase agreement will be issued on or about March 16, 2006, with an in-service date of March 31, 2009. The contract will be for a 15-year period that can be extended by WAPA for one additional five-year period.
The pass-fail criteria used in evaluating the proposed projects requires ranking in 14 areas, including strength of the proposed technology——is it commercially proven and reliable and does it reduce to the extent possible WAPA's dependence on imported fuel; proponent's ability to supply consistent energy production at the lowest possible cost to WAPA and its customers; adequate project funding; jobs creation as a stimulus to the economy; and public benefits including limited environmental impact. Projects that can demonstrate early completion and operations dates will be weighted more favorably in the final ranking scores.
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