Evergy Seeks to Add Generation Resources

Rhea-AI Summary

Evergy has issued a Request for Proposals (RFP) for up to 1,240 MW of generation resources to meet customer needs by 2026. This RFP, the first since the Inflation Reduction Act, emphasizes projects over 50 MW within Kansas and Missouri. Proposals are due by February 28, 2023. The company aims to add over 3,500 MW of renewable energy and retire more than 1,900 MW of coal generation in the next decade, targeting 70% carbon reduction by 2030 and net-zero emissions by 2045. The RFP reflects Evergy's commitment to sustainable energy solutions and customer savings through federal incentives.

Positive

• Issuing RFP for up to 1,240 MW of generation resources aligns with growth strategy.
• Plans to add over 3,500 MW renewable energy enhance sustainability focus.
• Target of 70% carbon reduction by 2030 and net-zero by 2045 supports long-term viability.

Negative

• None.

Midwest projects of 50 MW or larger requested

KANSAS CITY, Mo.--(BUSINESS WIRE)-- Today, Evergy issued a Request for Proposals (RFP) for generation resources to serve its customers.

The all-source RFP solicits bids for Evergy’s purchase or contracting of up to 1,240 megawatts (MW) of energy resources that will be in service by 2026. The RFP is Evergy’s first since the passage of the Inflation Reduction Act. Any savings achieved as part of the federal incentives would benefit customers.

Resources must be at least 50 MW and interconnect to the Southwest Power Pool (SPP). Siting preference will be given to projects located in Kansas and Missouri, particularly located within Evergy’s service area. Proposals are due by Feb. 28, 2023. Response and contact information are available online. Proposals selected from the RFPs are subject to appropriate regulatory approvals.

Over the next 10 years, Evergy plans to add more than 3,500 MW of renewable energy and retire more than 1,900 MW of coal-based fossil generation. Projects selected through this RFP would fulfill plans to add up to 1,240 MW of renewable generation by 2026. Evergy has set a goal of 70 percent carbon reduction by 2030 (relative to 2005 levels) and a target to reach net-zero carbon emissions by 2045. The company expects a combination of supportive energy policies and evolving technology to enable the net-zero goal.

About Evergy, Inc.

Evergy, Inc. (NASDAQ: EVRG), serves 1.6 million customers in Kansas and Missouri. Evergy’s mission is to empower a better future. Our focus remains on producing, transmitting and delivering reliable, affordable, and sustainable energy for the benefit of our stakeholders. Today, about half of Evergy’s power comes from carbon-free sources, creating more reliable energy with less impact to the environment. We value innovation and adaptability to give our customers better ways to manage their energy use, to create a safe, diverse and inclusive workplace for our employees, and to add value for our investors. Headquartered in Kansas City, our employees are active members of the communities we serve.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005859/en/

Media Contact:

Gina Penzig

Sr. Manager Corporate Communications

Phone: 785.508.2410

gina.penzig@evergy.com

Media Line: 888-613-0003

Investor Contact:

Pete Flynn

Director, Investor Relations

Peter.Flynn@Evergy.com

O: 816-652-1060

evergy.com

Source: Evergy, Inc.

FAQ

What is Evergy's recent Request for Proposals (RFP) about?

Evergy's RFP seeks bids for up to 1,240 MW of generation resources, focusing on projects of 50 MW or larger.

When is the deadline for Evergy's RFP submissions?

Proposals for Evergy's RFP are due by February 28, 2023.

What are Evergy's goals regarding carbon emissions?

Evergy aims for a 70% reduction in carbon emissions by 2030 and plans to achieve net-zero emissions by 2045.

How does the Inflation Reduction Act impact Evergy's RFP?

The RFP is Evergy's first since the Inflation Reduction Act, which may facilitate customer savings through federal incentives.

What regions are preferred for the projects in Evergy's RFP?

Projects located in Kansas and Missouri, particularly within Evergy’s service area, are given preference.