Additional Provisions Related to Community Renewable Energy Generation Projects. If the Designated System is a Community Renewable Energy Generation Project, the following shall apply:
Additional Provisions Related to Community Renewable Energy Generation Projects. If the Designated System is a Community Renewable Energy Generation Project, the following shall apply: the Contract Price shall be set consistent with Section 1.24 and shall be fixed throughout the Delivery Term without further adjustments. with respect to a Delivery Year, the quantity of RECs eligible for payment shall be based on the greater of (i) the percent of Actual Nameplate Capacity that has been Subscribed as observed on the first Business Day of June and (ii) the percent of Actual Nameplate Capacity that has been Subscribed as observed on the first Business Day of December of such Delivery Year subject to the payment provisions of Section 5.2. For purposes of the foregoing calculation with respect to the Delivery Year in which the Designated System is Energized (which shall apply also to RECs that have been Delivered prior to Energization pursuant to Section 2.3(f)(i)), the quantity of RECs eligible for payment shall be based on the greater of: (i) the percent of Actual Nameplate Capacity that has been Subscribed as observed at Energization, as indicated in Schedule B to the Product Order; or (ii) the percent of Actual Nameplate Capacity that has been Subscribed as observed on the first Business Day of December of such Delivery Year, if available, subject to the payment provisions of Section 5.2. The Subscription calculated in the foregoing shall be deemed as the Subscription to be applied for the Delivery Year. Notwithstanding the foregoing, if the Community Solar Subscription Mix is less than fifty percent (50%) as observed on the first Business Day of June and the first Business Day of December of a Delivery Year, then the Subscription shall be deemed to be zero percent (0%) for such Delivery Year and the quantity of RECs used for purposes of calculating REC payments in such Delivery Year shall be zero (0); further, if the percent of Actual Nameplate Capacity that has been Subscribed is at least ninety percent (90%) as observed on the first Business Day of June or the first Business Day of December of a Delivery Year, then the Subscription shall be deemed to be one-hundred percent (100%) for such Delivery Year. all Ineligible RECs that are Delivered under the Standing Order shall be returned from Buyer to Seller in accordance with Section 4.2(e); such Ineligible RECs are the exclusive property of Seller, to be utilized in Seller’s sole discretion. For avoidance of doubt, if the Community Solar Subscription Mix is less than fifty percent (50%)...
Additional Provisions Related to Community Renewable Energy Generation Projects. (a) If the Designated System is a Community Renewable Energy Generation Project, the following shall apply: Commented [SMR1]: JSP Comment: The Joint Solar Parties strongly support this change. The Approved Vendor is still incentivized to subscribe the system to the maximum extent (and obtain small subscribers, a statutory goal) but is subject to far less risk than having payments hinge on a single day. In fact, the Joint Solar Parties believe this change does such a good job of reducing Approved Vendor risk without harming consumers that the Joint Solar Parties recommend that the IPA offer parallel language as an optional standard amendment to existing REC Contracts. Section 9.5(c) of Attachment J (which in relevant part is not modified by the Cover Sheet) allows for amendments in writing if signed by both parties. While IPA could draft such an amendment and the utility counterparties could voluntarily agree to sign it (when requested by the Approved Vendor), the Joint Solar Parties would work with the IPA (and, potentially, the utilities) to request a Commission order to direct the utilities to sign such a standard amendment if presented should the utilities believe further Commission authorization is needed.
Additional Provisions Related to Community Renewable Energy Generation Projects. 4 For avoidance of doubt, the relevant REC price shall be the REC price associated with the same Class of Resource and category under the ABP as determined by the IPA and as may be adjusted pursuant to the IPA Act. If the Designated System is a Community Renewable Energy Generation Project, the following shall apply:
