Addendum No. 1 – Posted October 24, 2025
Announcement: Best and Final Offer (BAFO) & New Project Amendment Opportunity
I&M is initiating a BAFO process for original participants in the 2024 RFP. Since the 2024 RFP was issued, new legislation and tariffs have been implemented that have had direct impacts on the timing and/or economics of some projects that responded to the 2024 RFP. In addition, there have also been changes in the market that have impacted the availability and ownership of certain resources that responded to the 2024 RFP. This BAFO ensures that I&M is considering proposals that most accurately reflect current market realities, provides for a measure of fairness across bidders in light of recent market changes, and ensures that I&M has the opportunity to consider the most competitive and viable solutions.
In recognition that many projects are revising schedules to align with recent market changes, I&M is also extending the target COD for the 2024 RFPs an additional year and allowing projects that can reach COD in time for the 2030/2031 PY. Because of this change, I&M will open the BAFO process to new projects to ensure fairness to those bidders that may have been able to bid into the original RFP under the new target COD. This opportunity is intended to accommodate new projects that align within the original scope of the RFP and objectives.
Key Dates:
- Existing Proposal BAFO Submission Deadline: November 14, 2025 by 5PM EPT
This earlier deadline is to allow additional time for ITC qualification. - New Bid Proposal Deadline: December 8, 2025 by 5PM EPT
We encourage participants to review their submissions and consider updates that reflect current offers, pricing, and strategic alignment. New project proposals should ensure their projects are consistent with the original RFP parameters including threshold criteria.
Please review Addendum No. 1 for full information regarding the BAFO process and new project submission under the 2024 RFPs.
For questions or clarifications, please contact imallsourcerfp@crai.com.
Revised RFP:
Please note that the RFP has been revised to accept PJM Transition Cycle 2 projects that can meet the 2029/2030 PJM Planning Year. See the RFP Documents section for the updated and revised RFP.
Introduction and Background
I&M has issued the 2024 Requests for Proposals (“2024 RFPs”) which seeks to secure up to 4,000 MW of generation resources by the 2029/30 capacity planning year to support I&M’s capacity and energy needs in response to projected load growth.
Under the RFP, I&M seeks a diverse portfolio of resources to support the timing and energy and capacity characteristics associated with near term load expectations. To fulfill this need, I&M will be issuing separate RFPs to provide for a targeted approach to generation portfolio diversity. I&M anticipates selection from each of the RFPs. The RFPs are as follows:
- RFP 1 – Intermittent Resources (i.e., wind, solar, hybrid)
- RFP 2 – Non-intermittent Resources (thermal)
- RFP 3 – Storage Resources (BESS)
- RFP 4 – Supplemental Capacity (capacity products and emerging technologies)
To bring these resources online in a timely manner, I&M has retained Charles River Associates (“CRA”) to serve as an independent monitor to assist in the 2024 RFP process. This role will include stakeholder coordination, eligibility and threshold review of the proposals, and proposal evaluation support. The 2024 RFP website is located at www.IMAllSourceRFP.com. This website is managed by CRA on behalf of I&M.
RFP Schedule
| Task | Completion Date |
| Issue Draft RFP | Sept 20, 2024 |
| Issue RFP | Sep 27, 2024 |
| Technical Conference | Oct 4, 2024 |
| Proposals Due | Nov 8, 2024 |
| Selection Process | Q4 2024 – Q2 2025 |
| IRP Preferred Plan Identified | Feb, 2025 |
| Shortlist | Feb, 2025 |
| Regulatory Filings | Q2 2025 – Q3 2025 |
A technical conference will be held on Friday, October 4, at 1PM Eastern to review the scope of the RFP currently under development. At this stakeholder meeting, the following agenda items will be covered:
- The resource types sought.
- Minimum eligibility and threshold requirements.
- The RFP evaluation process.
- Factors that will be considered in the evaluation process.
- Timeline of the RFP and subsequent regulatory approvals.
- Open Q&A.
Please register for the stakeholder meeting at the following link: https://events.teams.microsoft.com/event/984f09f6-8874-4335-9096-120c9f8ad40d@4a156c19-bc94-41ac-aacf-954686490869
CRA has maintained a dedicated e-mail address to receive questions and comments from stakeholders at IMAllSourceRFP@CRAI.com. Stakeholders should direct any questions or concerns directly to CRA via this e-mail address.
If you have any questions regarding the above, feel free to reach out to CRA at IMAllSourceRFP@crai.com.
Update: Both the 2022 and the 2023 All-Source RFP processes have concluded. Information on the 2023 RFP is available at the following link: 2023 Indiana Michigan Power Company (I&M) All-Source RFP. Information on the 2022 All-Source RFP process has been archived separately at the following link: 2022 Indiana Michigan Power Company (I&M) All-Source RFP .