IFP-56: Is a Bidder allowed to provide less than the required bid assurance collateral for a Project if the Bidder does not intend on bidding all the RECs that the Project can produce?

No.  There are two requirements that are based on strictly on the size of the Project, namely the area for which site control must be demonstrated and the amount of bid assurance collateral (unless otherwise instructed by the Procurement Administrator).  The Bidder is then able to bid any number of RECs up to a maximum established for the Project on the basis of a 26.5% capacity factor and the size of the Project.  A Bidder can always bid fewer RECs than the Project can produce and the Bidder can also change the number of RECs that it intends to bid from the Project during the course of the Proposal submission process.  If the collateral requirement were instead based on an indicative number of RECs, the Bidder would have less flexibility as the Bidder would be constrained by the amount of posted collateral and could be unable to bid, if desired, on a number of RECs larger than its indicative level.