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Indexed REC-67: Is it required for a representative of the Bidder to sign the P2 Certifications Insert (#P2-4) if the Bidder and the Seller are different entities?

Yes, if the Bidder and Seller are different entities (even if the Bidder was identified by naming all affiliated Sellers and separating the names with commas) both the Officer of the Seller and a representative of the Bidder must make the representations in the P2 Certifications Insert. As stated in Section V.3.4 of the RFP … Continue reading Is it required for a representative of the Bidder to sign the P2 Certifications Insert (#P2-4) if the Bidder and the Seller are different entities?

Indexed REC-59: Can the Companies draw upon the pre-bid collateral if the Bid for a Project is selected by the evaluation procedure, and then approved by the Commission, but the Seller does not execute the Indexed REC Contracts with the Companies?

As part of the Part 2 Proposal, the Seller must certify that the Bid constitutes a binding and irrevocable offer to supply the annual quantity of RECs from the Project selected in the evaluation and the Seller agrees that, if the Project is selected in the RFP and the Seller’s Bid on that Project is … Continue reading Can the Companies draw upon the pre-bid collateral if the Bid for a Project is selected by the evaluation procedure, and then approved by the Commission, but the Seller does not execute the Indexed REC Contracts with the Companies?

Indexed REC-53: Can a Bidder submit a Part 1 Proposal for a Project and ultimately not move forward with submitting a Part 2 Proposal? Are we required to notify the Illinois Power Agency if we decide not to submit a Part 2 Proposal for a Project?

A Bidder may submit a Part 1 Proposal for a Project, and later decide to not submit a Part 2 Proposal for that Project. The Bid Participation Fee of $500 will not be refunded. If a Bidder submits Proposals for multiple Projects, but ultimately decides not to present a Part 2 Proposal for all of … Continue reading Can a Bidder submit a Part 1 Proposal for a Project and ultimately not move forward with submitting a Part 2 Proposal? Are we required to notify the Illinois Power Agency if we decide not to submit a Part 2 Proposal for a Project?

Indexed REC-46: What is the required amount of bid assurance collateral? Is there a cap on the amount required to each utility?

The amount of bid assurance collateral required for a Project is determined separately for each Company as detailed below. As described in Paragraphs V.2.3 and V.2.5, a Bidder that submits Proposals for multiple Projects may post bid assurance collateral by effecting a single wire transfer to each Company or a single Pre-Bid Letter of Credit … Continue reading What is the required amount of bid assurance collateral? Is there a cap on the amount required to each utility?

Indexed REC-15: What is required at the time of bid for Bidders that do not wish to commit to an Equity Level (%) greater than the Minimum Equity Standard of 10%?

As provided in paragraph IV.3.1. of the Final Rules for the Indexed REC Procurement Event: An officer of the Seller must acknowledge that if the Date of First Operation for a Project is on or after December 15, 2022, a Minimum Equity Standard of 10% applies to the project workforce for each delivery year in which construction … Continue reading What is required at the time of bid for Bidders that do not wish to commit to an Equity Level (%) greater than the Minimum Equity Standard of 10%?

Indexed REC-56: Can the RFP Awarded Annual Quantity be changed or updated under the Indexed REC Contract?

The evaluation of the Bids, which is fully described in Paragraph I.2.11 of the Indexed REC RFP Rules, implies that the number of RECs from the highest-priced Project selected may be less than the full quantity (a “partial award”). For this reason, a Bidder must specify, in addition to the annual full quantity that the … Continue reading Can the RFP Awarded Annual Quantity be changed or updated under the Indexed REC Contract?

Indexed REC-31: Can we provide draft versions of the Pre-Bid Letter of Credit for a Company for review prior to our bank issuing the final executed version?

Neither the Procurement Administrator nor the Companies review draft versions of Pre-Bid Letters of Credit. However, upon request the Procurement Administrator can confirm the amount of bid assurance collateral required to be posted with each company given the Project size. If the submitted Pre-Bid Letter of Credit for any of the Companies, in its current … Continue reading Can we provide draft versions of the Pre-Bid Letter of Credit for a Company for review prior to our bank issuing the final executed version?