Common use of Purchase and Sale of Tier-1 Renewable Energy Certificates Clause in Contracts

Purchase and Sale of Tier-1 Renewable Energy Certificates. Section 2.01. On the terms and subject to the conditions and provisions of this Agreement, Seller agrees to sell, assign, convey, deliver and Transfer to NYSERDA, and NYSERDA agrees to purchase from the Seller, all right, title and interest in the Tier-1 Renewable Energy Certificates associated with the Quantity Obligation generated by the [Bid Facility/Upgrade] during each month of the Contract Delivery Term. Section 2.02. Such right, title and interest shall include perpetual and exclusive rights to the Tier-1 Renewable Energy Certificates and the underlying attributes, including but not limited to the exclusive rights to claim or represent, consistent with New York State Environmental Disclosure rules: (a) that the energy associated with Tier-1 Renewable Energy Certificates was generated by the Bid Facility; and (b) that New York State and or the RES Program is responsible for the environmental benefits including reductions in emissions and/or other pollution or any other environmental benefit resulting from the generation of the energy associated with the Tier-1 Renewable Energy Certificates. For the avoidance of doubt, the Parties agree that Seller shall retain all rights and interests in and to all energy, capacity, ancillary services and other products of the Bid Facility (including the Energy Storage component) and that NYSERDA has no right or interest in or to any such products. Section 2.03. Seller shall Transfer the Tier-1 Renewable Energy Certificates to the NYSERDA NYGATS Account via a Forward Certificate Transfer on a monthly basis in a percentage equal to the Bid Quantity Percentage. At the time of Transfer by Seller to NYSERDA, the Tier-1 Renewable Energy Certificates shall be free and clear of all liens, judgments, encumbrances and restrictions. Section 2.04. [Seller agrees that it may not and shall not apply for or otherwise seek to achieve compliance under Section 242-8.7 (CO2 budget units that co-fire eligible biomass) of the CO2 Budget Trading Program (6 NYCRR Part 242), or any other state program operating as a part of the Regional Greenhouse Gas Initiative, on the basis of any MWh or emission of CO2 or reduction in emissions of CO2 or other benefit associated with the Tier-1 Renewable Energy Certificates or for any activity constituting performance under this Agreement.] Section 2.05. In the event that Seller becomes entitled to or must apply for or take some other action under any emission-trading, emissions recordation or other regime other than the RES in order to secure a claim, title, credit, ownership, or rights of any type, nature or sort (“Title”) to any attributes associated with the Tier-1 Renewable Energy Certificates, or any certification, registration, verification or other memorialization of the creation of such attributes by the Bid Facility to which Seller may be entitled , Seller shall (i) notify NYSERDA of such opportunity, and, if requested to do so by NYSERDA, Seller shall (ii) take all actions necessary to apply for and secure such Title, to the maximum extent to which Seller is entitled, (iii) provide NYSERDA with evidence of taking such action; and (iv) convey such Title to NYSERDA whenever so secured. Section 2.06. NYSERDA’s obligations under this Agreement are expressly conditioned on the eligibility of Seller’s Bid Facility, at the time of execution of this Agreement and throughout the duration of the Contract Delivery Term, under the RES eligibility rules and requirements as stated at Appendix A to the August Order [and, where appropriate, upon compliance by Seller with the requirements of Exhibit D]. NYSERDA and/or its designee shall have reasonable access to the Bid Facility for the purpose of verifying the continuing eligibility of the Bid Facility and its operation. Bid Facilities selected under this RFP will not be subject to subsequent changes in RES eligibility rules; however, in the event that the Bid Facility fails to maintain eligibility consistent with the RES requirements as adopted by the August Order, such ineligibility will extend to the attributes emanating from the Bid Facility. See also Section 17.04

Purchase and Sale of Tier-1 Renewable Energy Certificates. Section 2.01. On the terms and subject to the conditions and provisions of this Agreement, Seller agrees to sell, assign, convey, deliver and Transfer to NYSERDA, and NYSERDA agrees to purchase from the Seller, all right, title and interest in the Tier-1 Renewable Energy Certificates associated with the Quantity Obligation generated by the [Bid Facility/Upgrade] during each month of the Contract Delivery Term. Section 2.02. Such right, title and interest shall include perpetual and exclusive rights to the Tier-1 Renewable Energy Certificates and the underlying attributes, including but not limited to the exclusive rights to claim or represent, consistent with New York State Environmental Disclosure rules: (a) that the energy associated with Tier-1 Renewable Energy Certificates was generated by the Bid Facility; and (b) that New York State and or the RES Program is responsible for the environmental benefits including reductions in emissions and/or other pollution or any other environmental benefit resulting from the generation of the energy associated with the Tier-1 Renewable Energy Certificates. For the avoidance of doubt, the Parties agree that Seller shall retain all rights and interests in and to all energy, capacity, ancillary services and other products of the Bid Facility (including the Energy Storage component) and that NYSERDA has no right or interest in or to any such products. Section 2.03. Seller shall Transfer the Tier-1 Renewable Energy Certificates to the NYSERDA NYGATS Account via a Forward Certificate Transfer on a monthly basis in a percentage equal to the Bid Quantity Percentage. At the time of Transfer by Seller to NYSERDA, the Tier-1 Renewable Energy Certificates shall be free and clear of all liens, judgments, encumbrances and restrictions. Section 2.04. [Seller agrees that it may not and shall not apply for or otherwise seek to achieve compliance under Section 242-8.7 (CO2 budget units that co-fire eligible biomass) of the CO2 Budget Trading Program (6 NYCRR Part 242), or any other state program operating as a part of the Regional Greenhouse Gas Initiative, on the basis of any MWh or emission of CO2 or reduction in emissions of CO2 or other benefit associated with the Tier-1 Renewable Energy Certificates or for any activity constituting performance under this Agreement.] Section 2.05. In the event that Seller becomes entitled to or must apply for or take some other action under any emission-trading, emissions recordation or other regime other than the RES in order to secure a claim, title, credit, ownership, or rights of any type, nature or sort (“Title”) to any attributes associated with the Tier-1 Renewable Energy Certificates, or any certification, registration, verification or other memorialization of the creation of such attributes by the Bid Facility to which Seller may be entitled , Seller shall (i) notify NYSERDA of such opportunity, and, if requested to do so by NYSERDA, Seller shall (ii) take all actions necessary to apply for and secure such Title, to the maximum extent to which Seller is entitled, (iii) provide NYSERDA with evidence of taking such action; and (iv) convey such Title to NYSERDA whenever so secured. Section 2.06. NYSERDA’s obligations under this Agreement are expressly conditioned on the eligibility of Seller’s Bid Facility, at the time of execution of this Agreement and throughout the duration of the Contract Delivery Term, under the RES eligibility rules and requirements as stated at Appendix A to the August Order [and, where appropriate, upon compliance by Seller with the requirements of Exhibit D]. NYSERDA and/or its designee shall have reasonable access to the Bid Facility for the purpose of verifying the continuing eligibility of the Bid Facility and its operation. Bid Facilities selected under this RFP will not be subject to subsequent changes in RES eligibility rules; however, in the event that the Bid Facility fails to maintain eligibility consistent with the RES requirements as adopted by the August Order, such ineligibility will extend to the attributes emanating from the Bid Facility. See also Section 17.04sort

Purchase and Sale of Tier-1 Renewable Energy Certificates. Section 2.01. On the terms and subject to the conditions and provisions of this Agreement, Seller agrees to sell, assign, convey, deliver and Transfer to NYSERDA, and NYSERDA agrees to purchase from the Seller, all right, title and interest in the Tier-1 Renewable Energy Certificates RECs associated with the Quantity Obligation generated by the [Bid Facility/Upgrade] Facility and delivered to the Delivery Point during each month of the Contract Delivery Term. Section 2.02. Such right, title and interest shall include perpetual and exclusive rights to the Tier-1 Renewable Energy Certificates RECs and the underlying attributes, including but not limited to the exclusive rights to claim or represent, consistent with New York State Environmental Disclosure rules: (a) that the energy associated with Tier-1 Renewable Energy Certificates RECs was generated by the Bid Facility; and (b) that New York State and or and/or the RES Program is responsible for the environmental benefits including reductions in emissions and/or other pollution or any other environmental benefit resulting from the generation of the energy associated with the Tier-1 Renewable Energy CertificatesRECs. For the avoidance of doubt, the Parties agree that only products Seller shall retain is selling and NYSERDA is buying under this Agreement are Tier-1 RECs and all rights rights, title, and interests in interest associated with them. Seller is not selling to NYSERDA and to all NYSERDA is not purchasing any electric energy, capacity, or ancillary services and other products of associated with the Bid Facility (including the Energy Storage component) and that NYSERDA has no right or interest in or to any such productsFacility. Section 2.03. Seller shall register the Bid Facility in NYGATS. Transfer shall be a necessary part of Seller Performance. Seller shall Transfer the Tier-1 Renewable Energy Certificates RECs to the NYSERDA NYGATS Account via a NYGATS Forward Certificate Transfer on a monthly basis in a percentage equal to the Bid Quantity Percentage. At the time of Transfer by Seller to NYSERDA, the Tier-1 Renewable Energy Certificates RECs shall be free and clear of all liens, judgments, encumbrances and restrictions. Section 2.04. [Seller agrees that it may not and shall not apply for or otherwise seek discontinue its election to achieve compliance under Section 242-8.7 (CO2 budget units that co-fire eligible biomass) of the CO2 Budget Trading Program (6 NYCRR Part 242), or any other state program operating as utilize a part of the Regional Greenhouse Gas Initiative, on the basis of any MWh or emission of CO2 or reduction in emissions of CO2 or other benefit associated with the Tier-1 Renewable Energy Certificates or for any activity constituting performance under this AgreementNYGATS Forward Certificate Transfer without prior written permission from NYSERDA.] Section 2.05. In the event that Seller becomes entitled to or must apply for or take some other action under any emission-trading, emissions recordation or other regime other than the RES in order to secure a claim, title, credit, ownership, or rights of any type, nature or sort (“Title”) to any attributes associated with the Tier-1 Renewable Energy Certificates, or any certification, registration, verification or other memorialization of the creation of such attributes by the Bid Facility to which Seller may be entitled , Seller shall (i) notify NYSERDA of such opportunity, and, if requested to do so by NYSERDA, Seller shall (ii) take all actions necessary to apply for and secure such Title, to the maximum extent to which Seller is entitled, (iii) provide NYSERDA with evidence of taking such action; and (iv) convey such Title to NYSERDA whenever so secured. Section 2.06. NYSERDA’s obligations under this Agreement are expressly conditioned on the eligibility of Seller’s Bid Facility, at the time of execution of this Agreement and throughout the duration of the Contract Delivery Term, under the RES eligibility rules and requirements as stated at Appendix A to the August Order [and, where appropriate, upon compliance by Seller with the requirements of Exhibit D]. NYSERDA and/or its designee shall have reasonable access to the Bid Facility for the purpose of verifying the continuing eligibility of the Bid Facility and its operation. Bid Facilities selected under this RFP will not be subject to subsequent changes in RES eligibility rules; however, in the event that the Bid Facility fails to maintain eligibility consistent with the RES requirements as adopted by the August Order, such ineligibility will extend to the attributes emanating from the Bid Facility. See also Section 17.04