SPV-70: With reference “Backup Insert #P1-3” of the Part 1 Form, if the Seller and the System Owner are different entities or individuals, the insert requires us to indicate whether we are providing: a signed contract, Letter of Intent or a certification by Seller for the system. If we are providing a Letter of Intent, is there explicit language you are looking for in the Letter of Intent?

Each bidder may develop a Letter of Intent (“LOI”) that meets their business needs while providing evidence of the viability of the proposed system to participate in the procurement event. While there is not explicit language required for the LOI, key components could include (but not be limited to):

  1. Affirmation of the relationship between system owner and aggregator/bidder
  2. Affirmation that the system owner will either unconditionally transfer title of RECs to aggregator/bidder or provide the right to legally transfer the RECs to the IPA.
  3. Affirmation that the aggregator/bidder is acting as the sole representative of the system owner (in other words the system is not being used in bids by multiple bidders).
  4. Affirmation that the system owner authorizes the aggregator/bidder to submit the LOI as part of the proposal

The Procurement Administrator will assess each bidder’s Part 1 Proposal materials in the RFP process, including any letter of intent that is provided with the Part 1 Proposal.