Announcements


Indexed REC-60: Is the Minimum Equity Standard (“MES”) of 10% subject to increase under the Term of the Indexed REC Contract? And does the MES of 10% apply to all delivery years under the Indexed REC Contract?

A Minimum Equity Standard (“MES”) of 10% will apply under the Indexed REC Contract to a Project selected through this RFP if the Date of First Operation is on or after December 15, 2022, or for a Modernized or Retooled Hydropower Project, if the Hydropower Refurbishment Completion Date, as defined in the Indexed REC Contract, is on or after December 15, 2022. At least 10% of the Project Workforce in each applicable delivery year shall be Equity Eligible Persons or Equity Eligible Contractors, as these terms are defined in the Indexed REC Contract. The MES applies for each delivery year in which Construction Activities are carried out through the Date of First Operation, or if the Project is a Modernized or Retooled Hydropower Project, through the Hydropower Refurbishment Completion Date.

For Contracts executed under this Summer 2024 Indexed REC RFP, the minimum percentage indicated in the Product Order for the Minimum Equity Standard shall not change during the Term of the Indexed REC Contract.

Please review paragraph IV.3.1 of the RFP Rules and Section 6.4 of the Indexed REC Contract for additional information.