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Indexed REC-58: Where can I find more information about participating in an upcoming Indexed REC RFP? Is the Indexed REC Contract for both energy and RECs?

The IPA filed its 2024 Long-Term Renewable Resources Procurement Plan (“2024 Long-Term Plan”) with the Illinois Commerce Commission (“ICC”) on October 20, 2023 related to procurement activities, including future Indexed REC RFPs, for 2024 and 2025. The 2024 Long-Term Plan remains subject to approval by the ICC. Please see Section 5.6 of the 2024 Long-Term … Continue reading Where can I find more information about participating in an upcoming Indexed REC RFP? Is the Indexed REC Contract for both energy and RECs?

Indexed REC-57: What is the approximate duration of the Indexed REC procurement event?

Historically, an Indexed REC procurement event has taken place over an approximately 4-month timeframe, commencing with a comment process on a draft version of the Indexed REC Contract and preliminary proposal requirements and concluding with contract execution. The qualification process consists of two parts, the Part 1 and Part 2 Proposal, and has typically spanned … Continue reading What is the approximate duration of the Indexed REC procurement event?

Indexed REC-56: Can the RFP Awarded Annual Quantity be changed or updated under the Indexed REC Contract?

The evaluation of the Bids, which is fully described in Paragraph I.2.11 of the Indexed REC RFP Rules, implies that the number of RECs from the highest-priced Project selected may be less than the full quantity (a “partial award”). For this reason, a Bidder must specify, in addition to the annual full quantity that the … Continue reading Can the RFP Awarded Annual Quantity be changed or updated under the Indexed REC Contract?

Indexed REC-54: If my project was a wining project in the Summer 2023 or Fall 2022 Indexed REC RFP do I need to submit a Mid-Year Confirmation to the IPA?

As described in Section 6.4 of the Indexed REC Contract, no later than December 1, 2023, the Seller is required to provide an MES Mid-Year Confirmation to the IPA.  An MES Mid-Year Confirmation should be submitted by all Sellers with a contract for Indexed RECs to demonstrate progress toward meeting the MES for the Program … Continue reading If my project was a wining project in the Summer 2023 or Fall 2022 Indexed REC RFP do I need to submit a Mid-Year Confirmation to the IPA?

Indexed REC-52: When will the next Indexed REC RFP be held and what are the expected REC quantities to be procured?

The 2022 Long-Term Plan covers the IPA’s renewable energy resources procurement activities for 2022 and 2023. The IPA filed its 2024 Long-Term Renewable Resources Procurement Plan (“2024 Long-Term Plan”) with the Illinois Commerce Commission (“ICC”) on October 20, 2023 related to procurement activities, including future Indexed REC RFPs, for 2024 and 2025. The 2024 Long-Term … Continue reading When will the next Indexed REC RFP be held and what are the expected REC quantities to be procured?

Indexed REC-51: How does the Collateral Threshold in Table A of Section 7.1 impact the Performance Assurance Amount for a utility-scale solar project under the Indexed REC Contract?

If you bid and win in the RFP, the RECs from your winning Project will be allocated by the Procurement Administrator to the Companies in pre-specified proportions (27.793% to AIC, 71.925% to ComEd, and 0.282% to MEC). As such, it is contemplated that you will sign three contracts, one with each of AIC, ComEd and … Continue reading How does the Collateral Threshold in Table A of Section 7.1 impact the Performance Assurance Amount for a utility-scale solar project under the Indexed REC Contract?

Indexed REC-50: What are the consequences under the Indexed REC Contract for failure to meet the percentage requirement of the Minimum Equity Standard?

A Minimum Equity Standard of 10% will apply under the Indexed REC Contract to a Project selected through this RFP if the Date of First Operation is on or after December 15, 2022. The remedies related to a failure to meet the percentage requirement of the Minimum Equity Standard (i.e., 10%) is described in Section … Continue reading What are the consequences under the Indexed REC Contract for failure to meet the percentage requirement of the Minimum Equity Standard?

Indexed REC-49: If we add battery storage to our Project, how would this be included in the Bid?

First, the Procurement Administrator cannot advise bidders on their bid submissions. The Strike Price that you indicate in your Bid will be used to calculate the payments under the Indexed REC Contract and there is no separate payment adjustment related to additional battery storage under the Indexed REC Contract. Second, with respect to a Project … Continue reading If we add battery storage to our Project, how would this be included in the Bid?