The Collateral Requirement under each Indexed REC Contract is separate from the bid assurance collateral that is due with the Part 2 Proposal. For Bidders with Bids approved by the Commission, bid assurance collateral remains in place until full execution of the Indexed REC Contract and posting of any required Performance Assurance and until payment of the Supplier Fees is received.

For an entity that is not eligible for unsecured credit under the Indexed REC Contract, Collateral Requirement means (a) with respect to a Utility-Scale Wind Project, an amount equal to four dollars ($4) times the Annual Quantity under the Indexed REC Contract; provided that if the Collateral Requirement is calculated to be less than $20,000, then the Collateral Requirement shall be $20,000; and means, (b) with respect to a Utility-Scale Solar Project or a Brownfield Site Photovoltaic Project, an amount equal to ten dollars ($10) times the Annual Quantity under the Indexed REC Contract; provided that if the Collateral Requirement is calculated to be less than $50,000, then the Collateral Requirement shall be $50,000.

A Seller with a Project with an approved Bid must meet the creditworthiness requirements under the Indexed REC Contract within five (5) business days of the Illinois Commerce Commission decision on the results of the procurement event. A bidder that is not eligible for unsecured credit under the Indexed REC Contract must post cash or a performance assurance letter of credit by the aforementioned deadline.