Announcements


Indexed REC-30: Can a Bidder change the size of their Project during the Part 2 Window after submitting the Part 1 Proposal?

No, as stated in Section IV.2.2 of the RFP Rules, once the Part 1 Proposal is complete, the size of the Project cannot be changed for purposes of the Part 2 Proposal. For avoidance of doubt, the restriction to size changes is limited from the time the Part 1 Proposal is complete through the fourteen (14) business days after the anticipated date of the Commission decision on the procurement event; and there is no prohibition to Project size changes during the term of the Indexed REC Contract.

While there is no prohibition under the Indexed REC Contract for size changes, we note the following: (i) if the Project is a utility-scale project, the Project size must be greater than 5 MW (AC rating), (ii) if the Project is a utility-scale project, at least 50% of the Project must be located within the physical location identified in the Site Description in the Product Order, (iii) if the Project is a utility-scale project and the Project is proposed to be located in an Energy Transition Community Grant Area (“ETCGA”) under the RFP, the Project must be entirely located within the ETCGA proposed in the RFP as identified in the Site Description in the Product Order; (iv) if the Project is a Brownfield Site Photovoltaic Project, the Project must be entirely located within the physical location identified in the description of the Project Site in the Product Order, (v) the Annual Quantity in each Indexed REC Contract is a binding obligation, and is used to measure performance under the Contract, and an Event of Default shall be deemed to occur if three (3) or more Shortfall Years occurred, and the cumulative sum of the Shortfall Amounts across all Shortfall Years equals or exceeds in Annual Quantity under the Indexed REC Contract, and (vi) the Project Committed Percentage shall be confirmed by Seller when Seller initiates the Standing Order request within PJM EIS GATS or M-RETS pursuant to section 2.3(b)(i) of the Indexed REC Contract, and such Project Committed Percentage may not be amended subsequent to the initial establishment of the Standing Order.