Please note that if you have a Project with a winning Bid approved by the Illinois Commerce Commission (“Commission”), the annual quantity in the RFP that is approved will be allocated to each of the three Companies.
For each Company, the Collateral Requirement for a utility-scale wind project is equal to $4 times the annual quantity of RECs under the Indexed REC Contract with such Company, and the Collateral Requirement for a utility-scale solar project or a brownfield site photovoltaic project is equal to $10 times the annual quantity of RECs under the Indexed REC Contract with such Company.
A Seller with a Project with an approved Bid must meet the creditworthiness requirements under each Indexed REC Contract within five (5) business days of the Illinois Commerce Commission approval on the results of the procurement event. A bidder that is not eligible for unsecured credit under the Indexed REC Contract must post cash or a post-bid letter of credit by the deadline. If a bidder is relying on the creditworthiness of a guarantor that is eligible for unsecured credit, then a guaranty must be provided to Buyer by such deadline.