SPV-156: Is the performance assurance collateral forfeited if the project associated with a winning Bid is cancelled?

Yes, under the SPV Contract the obligations lie with the Seller. The Contract spells out the obligation to build and deliver RECs. If, for whatever reason, the system cannot build, the Seller is still obligated to deliver RECs. The Seller has the option to assign to alternate systems—but there is no refund of performance assurance collateral. If the Seller does not deliver, this is considered an Event of Default under the contract. For a full description of Events of Default, please see Article 13 of the SPV Contract.