Item 7- RCA: Invenergy Renewables — original pdf

Backup

Posting Language ..Title Authorize negotiation and execution of up to two power purchase agreements with Invenergy Renewables LLC, a subsidiary of Invenergy Renewables Holdings LLC, for a total of approximately 299 megawatts of electricity from two utility-scale wind facilities, in an estimated amount of $34,000,000 per year, for a term of 10 years, for a total estimated amount up to $340,000,000. Funding: $34,000,000 is available in the Operating Budget of Austin Energy. Funding for the remaining contract term is contingent upon available funding in future budgets. ..De Lead Department Austin Energy Fiscal Note Funding in the amount of $34,000,000 is available in the Fiscal Year 2025-2026 Operating Budget of Austin Energy. Funding for the remaining term is contingent upon available funding in future budgets. Prior Council Action: For More Information: Amy Everhart, Director, Local Government Issues (512) 322-6087; Lisa Martin, Deputy General Manager and Chief Operating Officer (512) 322-6457 Council Committee, Boards and Commission Action: May 11, 2026- To be reviewed by the Electric Utility Commission. Additional Backup Information: On October 7, 2025, Austin Energy issued a Request for Proposals (RFP) for utility scale wind energy resources located within the Electric Reliability Council of Texas (ERCOT). Offers received through this solicitation provided Austin Energy with competitively priced power purchase agreements and opportunities to advance its carbon-free energy goals established in the Austin Energy Resource, Generation and Climate Protection Plan to 2035. The plan establishes a goal of achieving 70% renewable energy as a percentage of load by 2030 and reaching 100% carbon-free energy as a percentage of load by 2035. These utility-scale wind power purchase agreements will deliver approximately 299 MW of capacity from two wind power facilities beginning in mid-2026. Approximately 149 MW will come from a wind facility in Mills County, and approximately 150MW will come from a wind facility in Dickens County. These agreements are projected to provide wholesale price risk mitigation and are anticipated to have a beneficial impact on the Power Supply Adjustment given ERCOT’s current load growth projections, regulatory uncertainty, and ongoing market price volatility. Item 7