Indexed REC-45: If we have a winning Bid for a Project and sign the Indexed REC Contract, can we substitute the Project at a later date if it turns out the interconnection cost is higher than expected? There is a mechanism under the Adjustable Block Program that provides an option to substitute a Project if interconnection costs exceed a certain threshold. If a comparable mechanism is not available, can we withdraw a project after signing the Indexed REC Contract?

There is no comparable mechanism under the Indexed REC Contract to the option you describe as available under the contract for the Adjustable Block Program. Under the Indexed REC Contract, failure of Seller to Deliver at least one (1) REC from the Project by the Initial REC Delivery Deadline or extended Initial REC Delivery Deadline is an event of default. For such an event of default, the Seller will be required to pay the Buyer an amount equal to the Collateral Requirement (or Increased Collateral Requirement, if applicable).