The Utility-Scale Wind REC Contract states the following: “RECs shall not be eligible for payment by Buyer if Delivered by Seller prior to the Commission Bid Approval Date or if such REC(s) are related to generation of electricity that occurred more than two (2) months prior to the first day of the Delivery Term (such RECs, “Ineligible RECs”). Seller shall have no obligation to Buyer with respect to any Ineligible RECs.” The Commission Bid Approval Date is October 30, 2019.

Also, please note that the Delivery Term starts on “the later of the Commission Bid Approval Date or the date that the first REC is issued by PJM EIS GATS or M-RETS for the Project regardless of when the initial date of REC Deliveries by Seller to Buyer occurs”.