SPV-66: If the Bidder is the aggregator selling RECs on the original REC owner’s behalf, is there any IPA documentation that the original REC owner/host/homeowner needs to sign prior to the successful bid award or after the successful bid award to authorize the aggregator to sell the RECs on the system owner’s behalf? or does the aggregator simply attest to having that authorization by signing all of the documentation?

The IPA does not have specific documentation that is required between original REC owners (or system owners) and aggregators for participating in the procurement event, and the IPA does not require Aggregators to provide any documentation beyond what is required through the Part 1 and Part 2 Proposals (an illustrative copy of the Part 1 Proposal and of the Part 2 Proposal may be found at the following link:

Should the Bidder have a winning Bid, then the Seller under the SPV contract must be able to execute the SPV Contract and provide the required documents, completed forms, and disclosures contained therein. A condition found in Section 4.1.6 of the SPV Contract (Prerequisites for Purchase) provides as follows:

Seller has rights to the RECs to be Delivered by Seller to Buyer’s PJM-EIS GATS or M-RETS account and such rights include Seller’s rights to Deliver and convey title of such RECs to Buyer such that, upon Delivery, all rights and ownership of Delivered RECs shall belong to Buyer

Should the Seller fail to obtain such rights, the Buyer would be under no obligation to purchase any RECs under the contract, and the Seller’s performance assurance may be forfeited.

A copy of that SPV Contract and all associated submissions and forms may be found under the “Final Supplemental PV Contract Document” at the following link: