The size of the Project in MW (AC rating), provided within Part 1 Proposal, is used to calculate the bid assurance collateral and the Maximum Bid Size.
For this Fall 2022 Indexed REC RFP, the amount of bid assurance collateral required for a Project is a function of both the size of the Project in MW and the Preliminary RFP Project Percentage provided in the Part 2 Form, and is determined separately for each Company. For further details on the amount of bid assurance collateral required for a Project, please see FAQ-Indexed REC-14.
The Maximum Bid Size is a product of (i) the project size in MW (AC rating), (ii) a capacity factor of 45% for a utility-scale wind project or a capacity factor of 30% for utility-scale solar and brownfield site photovoltaic projects, (iii) the Final RFP Project Percentage provided in the Bid Form, and (iv) 8,760 hours, as stated in the Section V.5 of the RFP Rules. The Maximum Bid Size will be calculated automatically within the Bid Form. A Bidder’s full quantity for a Project, as indicated in their Bid Form specified as an integer number of RECs, must not exceed the Maximum Bid Size of the Project.