No. The Indexed REC Contract provides (a) time to develop and construct the Project following the Effective Date of the contract and (b) time to Deliver the RECs once the Project is energized. The period of time for the Delivery of RECs is the “Delivery Term” under the Indexed REC Contract and starts on the date the first REC is issued for the Project by PJM-EIS GATS or M-RETS, as applicable; and ends three months after the Acceptable Vintage Period. The Acceptable Vintage period is for a period of 241 months under the Indexed REC Contract.
Please review the Indexed REC Contract for additional information.