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Indexed REC-64: What is the Letter of Full Transfer (Schedules 1-3) and is it required to be completed by the deadline to provide post-bid collateral?

Any transfer request for the post-bid letter of credit must be presented utilizing one of the forms of the Letter of Full Transfer (Schedules 1-3) together with the original Letter of Credit and original amendments, if any.  The Letter of Full Transfer does not need to be completed at the time the post-bid letter of … Continue reading What is the Letter of Full Transfer (Schedules 1-3) and is it required to be completed by the deadline to provide post-bid collateral?

Indexed REC-63: What is the initial collateral requirement amount under the Indexed REC Contract with a Company and when is it due?

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 … Continue reading What is the initial collateral requirement amount under the Indexed REC Contract with a Company and when is it due?

Indexed REC-62: Can you provide instructions on the payment of the Supplier Fee?

Payment of the Supplier Fee is to be made to the Illinois Power Agency by the Bidder or Seller for Projects with winning Bids approved by the Illinois Commerce Commission (“Commission”). The Supplier Fee is due within seven (7) business days after Commission approval of the Bids. Information regarding payment of the Supplier Fee (i.e., … Continue reading Can you provide instructions on the payment of the Supplier Fee?

Indexed REC-60: Since Illinois’ prevailing wages are determined by the locality in which the work is performed, how should a qualifying Project in an adjacent state comply with the prevailing wage requirement of the Prevailing Wage Act? For example, an adjacent state may or may not have prevailing wage legislation at a county level.

Regarding compliance with the prevailing wage requirements under Section 1-75(c)(1)(Q)(1) of the IPA Act, the IPA interprets the statutory requirement as carrying a qualitative eligibility requirement related to fair wages paid for labor on all renewable energy projects bidding into IPA procurements. The REC Contract requires that all construction work performed by Seller under the … Continue reading Since Illinois’ prevailing wages are determined by the locality in which the work is performed, how should a qualifying Project in an adjacent state comply with the prevailing wage requirement of the Prevailing Wage Act? For example, an adjacent state may or may not have prevailing wage legislation at a county level.

Indexed REC-58: What is the required bid assurance collateral amount for utility-scale solar projects located in the ComEd territory? Are we required to submit bid assurance collateral to all three companies?

The amount of bid assurance collateral required for a Project is determined separately for each Company as detailed below.  For the Bidder to be able to submit Bids on its Projects, the Bidder must have submitted bid assurance collateral to all three (3) Companies in an amount that is sufficient given the aggregate size of … Continue reading What is the required bid assurance collateral amount for utility-scale solar projects located in the ComEd territory? Are we required to submit bid assurance collateral to all three companies?

Indexed REC-57: If a Bidder posts bid assurance collateral for a project, but ultimately does not submit a bid for the project, is the full amount of the bid assurance collateral returned?

If a Bidder posts bid assurance collateral and does not submit a Bid, the full amount of the bid assurance collateral will be returned with the timeframes provided in the Indexed REC RFP. As stated in Section VI.2.19 of the RFP Rules, “A Pre-Bid Letter of Credit will expire on the date stated as part … Continue reading If a Bidder posts bid assurance collateral for a project, but ultimately does not submit a bid for the project, is the full amount of the bid assurance collateral returned?

Indexed REC-56: What information in the Indexed REC RFP is subject to public disclosure, and when is such information made public?

Under the Illinois Public Utilities Act (220 ILCS 5/16-111.5), “For the procurement of standard wholesale products, the names of the successful bidders and the load weighted average of the winning bid prices for each contract type and for each contract term shall be made available to the public at the time of Commission approval of … Continue reading What information in the Indexed REC RFP is subject to public disclosure, and when is such information made public?