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Indexed REC-14: How is the Preliminary RFP Project Percentage used to calculate the bid assurance collateral required in the Part 2 Proposal?

In the Part 2 Proposal, the Bidder must provide a Preliminary RFP Project Percentage, rounded to two decimals, for purposes of calculating bid assurance collateral due with the Part 2 Proposal. The amount of bid assurance collateral required for a Project is a function of the size of the Project and the Preliminary RFP Project Percentage provided in the Part 2 Proposal, and is determined separately for each Company. The amount of bid assurance collateral required for the Project is as follows:

  • The amount of bid assurance collateral required for AIC is $1,600/MW for a Wind Project and $5,500/MW for a Solar Project and Brownfield Project multiplied by the Preliminary RFP Project Percentage (%) provided in the Part 2 Proposal, rounded up to the nearest $100. The amount of bid assurance collateral tendered to AIC not need exceed $1,900,000 across all utility-scale wind projects presented by a Bidder, or $2,700,000 across all utility-scale solar projects presented by a Bidder, or $175,000 across all brownfield site photovoltaic projects presented by a Bidder.
  • The amount of bid assurance collateral required for ComEd is $4,000/MW for a Wind Project and $13,000/MW for a Solar Project and Brownfield Project multiplied by the Preliminary RFP Project Percentage (%) provided in the Part 2 Proposal, rounded up to the nearest $100. The amount of bid assurance collateral tendered to ComEd not need exceed $4,750,000 across all utility-scale wind projects presented by a Bidder, or $6,800,000 across all utility-scale solar projects presented by a Bidder, or $450,000 across all brownfield site photovoltaic projects presented by a Bidder.
  • The amount of bid assurance collateral required for MEC is $400/MW for a Wind Project and $1,000/MW for a Solar Project and Brownfield Project multiplied by the Preliminary RFP Project Percentage (%) provided in the Part 2 Proposal, rounded up to the nearest $100. The amount of bid assurance collateral tendered to MEC not need exceed 350,000 across all utility-scale wind projects presented by a Bidder, or $500,000 across all utility scale solar projects presented by a Bidder, or $25,000 across all brownfield site photovoltaic projects presented by a Bidder.

For example, if the Project is a 20MW utility-scale solar project and the Preliminary RFP Project Percentage is 50%, the bidder would be required to submit 20 x $5,500 x 50%, rounded up to the nearest $100 = $55,000 to AIC, 20 x $13,000 x 50%, rounded up to the nearest $100 = $130,000 to ComEd, and 20 x $1,000 x 50%, rounded up to the nearest $100 = $10,000 to MEC. The Bidder would send each of these amounts to the corresponding Company separately, in the form of cash or letter of credit, following all instructions provided by the Procurement Administrator.

For the Bidder to be able to submit Bids on its Projects, the Bidder must have submitted bid assurance collateral to all three (3) Companies in an amount that is sufficient given the aggregate size of the Bidder’s Projects and the Preliminary RFP Project Percentage for each of the Bidder’s Projects. If the Bidder fails to provide bid assurance collateral to one or more of the Companies, or if the Bidder provides bid assurance collateral to all Companies but the amount of the bid assurance collateral for one or more of the Companies is insufficient given the Project size and the Preliminary RFP Project Percentage across all of the Bidder’s Projects, the Part 2 Proposals for all of the Bidder’s Projects will be considered deficient.

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 to each Company for all Projects. In this case, to determine the amount of bid assurance collateral across all Projects, for each Company, the amount of bid assurance collateral for each Project should be calculated as described above and then the amounts, each already rounded up to the nearest $100, should be summed across all Projects.