Renewable Energy Certificates
CommonWealth generates renewable energy certificates (RECs) from a 3.3-MW landfill gas-to-electricity project know as the Greater New Bedford LFG Utilization Project (the LFG Project). The LFG Project was developed by CommonWealth and wholly-owned and operated through a single-purpose entity, CommonWealth New Bedford Energy, LLC (“CNBE”). The RECs generated by the LFG Project are qualified under the Renewable Portfolio Standard (“RPS”) programs of various New England states. The RECs are created, registered and transferred on the NEPOOL Generation Information System (the “NEPOOL GIS”).
Qualified REC Classifications
Specific state RPS program classifications under which the CNBE generating facility is qualified to generate and register RECs are as follows:
- New Hampshire Class III (Certification No. NH-III-17-0001)
- Massachusetts Class I (RPS Statement of Qualification No. LG102504)
- Connecticut Class I (Certification No. CT00404-09)
- Maine Class I (Certification No. 2009-389)
Available REC Quantities
The company is currently seeking to enter into agreements for the purchase and sale of the following individual annual quantities of RECs by vintage (i.e., calendar year of generation) on the basis indicated:
- 7,000 firm vintage 2023 + 8,000 2023 on a unit contingent basis
- 12,000 firm vintage 2024 + 8,000 2024 on a unit contingent basis
- 12,000 firm vintage 2025 + 8,000 2025 on a unit contingent basis
- 12,000 firm vintage 2026 + 8,000 2026 on a unit contingent basis
Prices: To be negotiated
Preferred Delivery and Payment Terms
- Delivery by monthly irrevocable forward transfers from Seller account into Buyer account on the NEPOOL GIS.
- Payment within 15 business days after verification of forward transfer and receipt of an invoice.