Renewable Energy Certificates
The Greater New Bedford LFG Utilization Project, a 3.2 MW electric power generating facility developed by CommonWealth and wholly-owned and operated through its single-purpose project subsidiary, CommonWealth New Bedford Energy, LLC (“CNBE”), is qualified under the Renewable Portfolio Standard (“RPS”) programs of various New England States to create, register and transfer Renewable Energy Certificates (“RECs”) on the NEPOOL Generation Information System (the “NEPOOL GIS”). The CNBE facility is identified on the NEPOOL GIS as Generating Unit MSS11052 .
Acting on behalf of its CNBE subsidiary, CommonWealth periodically seeks to enter into bi-lateral agreements for the purchase and sale of RECs (also known as “NEPOOL GIS Certificates” and “Renewable Energy Credits”) with electric power distribution utilities, independent power marketers and other load-serving entities with annual compliance obligations under RPS programs in Massachusetts, New Hampshire, Connecticut and Maine.
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:
- 5,000 firm vintage 2020 + 5,000 2020 on a unit contingent basis
- 12,000 firm vintage 2021 + 8,000 2021 on a unit contingent basis
- 12,000 firm vintage 2022 + 8,000 2022 on a unit contingent basis
- 12,000 firm vintage 2023 + 8,000 2023 on a unit contingent basis
- To be negotiated
Preferred Delivery and Payment Terms:
- Monthly irrevocable forward transfers from Seller account into Buyer account on the NEPOOL GIS throughout the term of the applicable purchase and sale agreement
- Buyer payments due 15 business days after verification of the forward transfer and invoicing.
For additional information please contact: