Indexed REC-15: What is required at the time of bid for Bidders that do not wish to commit to an Equity Level (%) greater than the Minimum Equity Standard of 10%?

As provided in paragraph IV.3.1. of the Final Rules for the Indexed REC Procurement Event:

  • An officer of the Seller must acknowledge that if the Date of First Operation for a Project is on or after December 15, 2022, a Minimum Equity Standard of 10% applies to the project workforce for each delivery year in which construction activities are performed through the date of first operation for a utility-scale wind, utility-scale solar, brownfield site photovoltaic, or New Hydropower Project; or through the Hydropower Refurbishment Completion Date if the Project is a Modernized or Retooled Hydropower Project; and that there are reporting requirements described in Section 6.4 of the Indexed REC Contract.

No additional documentation or information is required at the time of bid.