The FIT 4.0 procurement has concluded as the Independent Electricity System Operator (IESO) prepares to offer 936 new Feed-in Tariff (FIT) renewable energy contracts. These contracts represent 241.430 megawatts (MW) of power. The procurement target for FIT 4 was 241.438 MW.
The breakdown of contract offers is as follows:
The projects announced today include projects with Aboriginal, community and municipal or public sector participation as follows:
More than 92% of successful applications received municipal council support resolutions. The minimum number of priority points obtained by projects receiving contract offers was 2.
Priority points for price reduction were introduced in FIT 4, giving applicants the opportunity to receive priority points for their project if they elected to reduce their base price corresponding to one of three price reduction tiers. The three optional tiers were as follows:
Of the successful applications, 52% chose to apply for price reduction priority points. These price reduction selections will be considered during the upcoming annual FIT and microFIT price review.
Pursuant to directions issued by the Minister of Energy on August 29, 2014 and June 24, 2015, the OPA (now IESO) was directed to award a minimum of 200 MW of FIT contracts, which included the 150 MW initial FIT 2015 procurement target and the 50 MW rollover from the 2014 FIT procurement target, as well as any remaining unallocated capacity from the 2014 microFIT procurement target.