The amount of bid assurance collateral required for a Project is determined separately for each Company and is the same whether the Bidder submits cash or a letter of credit to each of AIC, ComEd, and MEC.

• The amount of bid assurance collateral required for AIC is $5,500/MW and need not exceed $5,500,000 across all Utility-Scale Solar Projects presented by a Bidder or $275,000 across all brownfield site photovoltaic Projects presented by a Bidder.
• The amount of bid assurance collateral required for ComEd is $13,000/MW and need not exceed $13,000,000 across all Utility-Scale Solar Projects presented by a Bidder or $650,000 across all brownfield site photovoltaic Projects presented by a Bidder.
• The amount of bid assurance collateral required for MEC is $1,000/MW and need not exceed $1,000,000 across all Utility-Scale Solar Projects presented by a Bidder or $50,000 across all brownfield site photovoltaic Projects presented by a Bidder.

Additional information on bid assurance collateral, including the required amounts, is provided in Section V.2. Bid Assurance Collateral in the RFP Rules.

The collateral requirement under the REC Contract is $10 times the Annual Quantity and is subject to a minimum of $50,000. Please note that under the REC Contract, a Project must deliver at least one REC to each Company on or before May 31, 2021 unless such deadline is extended to May 31, 2022 by the Seller opting to meet an increased collateral requirement. Additional information is available in the REC Contract.