Proponents are required to submit Proposal Assurance Collateral in the form of cash or of a letter of credit to each of AIC and ComEd with their Proposal under the Coal to Solar and Energy Storage Initiative Procurement (“C2S Procurement”). If meeting this requirement by submitting a letter of credit, a Proponent must use the Standard Proposal Letter of Credit for such Company provided as Appendices 3 and 4 to the Procurement Rules or incorporate only those modifications approved by that Company and posted to the procurement website. The Procurement Administrator posted the preliminary lists of acceptable modifications to the Proposal Letters of Credit to the Final Materials page of the Coal to Solar section of the procurement website on March 14, 2022.
Additionally, the REC Contract includes, as Exhibit E-1, Irrevocable Standby Letter of Credit Forms that may be used to meet the collateral requirements under the terms of the REC Contract. There are two (2) options for the Irrevocable Standby Letter of Credit Form as well as three (3) samples for the Letter of Full Transfer. These documents, along with preliminary lists of acceptable modifications, are also available on the Final Materials page.
A Proponent may, on an optional basis, provide comments or propose modifications to the Proposal Letters of Credit, and the Irrevocable Standby Letter of Credit Forms and Letters of Full Transfer under the REC Contract, by 6 PM on the Comment Deadline of Monday, March 28, 2022. Comments or proposed modifications must be submitted as a redline of the document in Microsoft Word format by email to the Procurement Administrator at Illinois-RFP@nera.com.
Any of such Proponent’s comments or proposed modifications to a document may result in an addition to the list of acceptable modifications to that document approved by the Company for use by all Proponents on an optional basis.
Please direct any questions regarding the C2S Procurement to the “Ask a Question” page of the procurement website.