- TVA is a clean-energy leader and is committed to partnering with others to go further and faster to achieve its carbon-reduction initiatives.
- TVA is pursuing a clean energy future that stimulates economic growth and positions the region as a national leader in decarbonization technologies – battery storage, electric vehicles and new nuclear.
- TVA is creating a carbon-free future with a holistic approach, ensuring no one is left behind in the clean energy economy.
KNOXVILLE, Tenn. ― The Tennessee Valley Authority on Tuesday issued a request for up to 5,000 megawatts of carbon-free energy that must be operational before 2029, which is one of the largest clean energy procurement requests in the nation.
“We are taking this bold, decisive action because TVA is uniquely positioned to lead in reducing carbon emissions for the region and the nation,” said Jeff Lyash, TVA president and chief executive officer. “This announcement is a clear signal to our industry, our partners, and our nation that we need to move further and faster, together, to make a cleaner future a reality.”
TVA is executing a defined strategy to reduce carbon from 2005 levels by 70% by 2030, 80% by 2035, and aspire to be net-zero by 2050. To support its carbon-reduction efforts, the agency is aggressively exploring and accelerating carbon-free technologies and moving to bring an additional 10,000 megawatts of solar energy capacity online by 2035.
“At TVA, we are outcome focused,” said Lyash. “We are committed to developing potential pathways to a clean energy future.”
RFP proposals must be submitted by October 19, 2022. Developers can review TVA’s request for proposal and submit bids at tva.com/Information/Doing-Business-with-TVA. TVA will announce selected projects in Spring 2023.
Clean energy is fueling growth across TVA’s seven-state service territory. Since 2018, TVA’s award-winning Green Invest program has generated over $3 billion in investment across its seven-state region. TVA believes its renewable energy programs are one element that helped drive the agency’s record-setting economic development performance in the first six months of fiscal year 2022 – attracting or retaining more than 40,900 jobs and more than $7.3 billion in capital investment.
Lyash said last year about 270 companies selected the Tennessee Valley to do business because of TVA’s low-cost, reliable and clean energy. The trend continues. In April, Envision AESC, a world-leading electric vehicle battery technology company, announced a 2,000 job, $2 billion investment to build a new battery factory in Bowling Green, KY, because of TVA’s renewable energy programs.
“Our region is the nation’s premier destination for business, and a big reason for that is because of TVA’s renewable energy efforts,” said Lyash. “Soon 2,000 families will have good jobs and the Envision’s facility will be powered by 100% renewable energy.”
Lyash sees decarbonization as a strategic advantage and is taking a holistic approach. Last year the agency:
- Announced $2 billion in new transmission infrastructure investments (through 2025) to build the energy system of the future and improve grid capabilities.
- Launched additional exploration of technologies such as next-generation carbon capture, hydroelectric pumped storage and hydrogen.
- Partnered with Ontario Power Group, Oak Ridge National Laboratory, and Kairos Power to make the region a national epicenter for advanced nuclear technology research and development.
“There is no single answer to achieving our nation’s decarbonization and energy security goals,” said Lyash. “TVA is accelerating change across the industry to expand carbon-free technologies to decarbonize the grid while integrating emerging technologies through innovative solutions to meet customer-driven demand and build a future that leaves no one behind in the new clean energy economy.”
TVA places a high priority on transparency. Learn more about TVA’s decarbonization journey, diversity and inclusion efforts, strategic planning, financial health, new nuclear program and more at tva.com/about-tva/reports.
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving nearly 10 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.
What others say about TVA’s RFP:
“The Tennessee Valley Authority is taking meaningful actions to deploy carbon-free energy and advance our shared goal to decarbonize the nation’s electricity grid. We applaud TVA for recognizing the significant role nuclear energy will have alongside wind, solar and other low-carbon technologies to meet customer demand and grow economic development across the region. Nuclear carbon free energy is essential for TVA to reach its decarbonization goals, while also putting the United States on a pathway toward a just and affordable clean energy transition.” – Maria Korsnick, President and Chief Executive Officer, Nuclear Energy Institute
“Deploying increasing amounts of new clean energy generation over the next decade is a critical component of the transition to a clean energy future. We applaud TVA for its continued leadership in transforming the nation’s energy mix and for its forward-looking efforts to meet the evolving needs and expectations of the many communities that it serves.” – Tom Kuhn, President, Edison Electric Institute
“Scientific innovation at ORNL is creating clean energy solutions that will help decarbonize our economy and TVA is an invaluable partner for deploying these technologies for the benefit of our region and the nation.” – Thomas Zacharia, Oak Ridge National Laboratory Director
“Balancing carbon reduction with reliability and affordability is a necessary and challenging process, and TVPPA supports TVA’s plans to do that through the expansion of its generation portfolio. TVA has historically had one of the most reliable generation systems in the nation. They have also stood out as a leader in carbon reduction. This portfolio expansion and the way new generation, transmission and distribution resources are added to the grid must be done in a thoughtful and methodical manner in order to uphold TVA’s history of reliability while delivering the benefits of decarbonization.” – Doug Peters, President and Chief Executive Officer, Tennessee Valley Public Power Association
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Source: Tennessee Valley Authority