REC Supplier Security definition
REC Supplier Security has the meaning set forth in Section 5.1.
REC Supplier Security means the acceptable credit support to be provided by REC Supplier pursuant to Article 5. Renewable Energy Credit or REC means all rights, title and interest in and to the Environmental Attributes associated with the electricity generated from a Renewable Energy Resource facility. RECs delivered under this Agreement must originate from a Renewable Energy Resource generating facility certified by the PUCO and be registered with GATS. One REC represents the Environmental Attributes made available by the generation of one megawatt- hour “MWh” (equivalent to 1000 kilowatt-hours) of electricity from one or more Renewable Energy Resources, except for biomass, in which case the RECs shall be calculated according to the rules and regulations developed and in effect by the PUCO. For purposes of this Agreement, RECs shall include “Solar Renewable Energy Credits” or “SRECs” unless otherwise specified. RECs that were produced by a certified, eligible Renewable Energy Resource after January 1, 2014 and extending through December 31, 2016 and are approved by the PUCO are acceptable for Delivery to Buyer provided such RECs comply with the requirements of this Agreement.
REC Supplier Security means the acceptable credit support to be provided by REC Supplier pursuant to Article 5. Renewable Energy Credit or REC means all rights, title and interest in and to the Environmental Attributes associated with the electricity generated from a Renewable Energy Resource facility (inclusive of solar and non-solar resources). RECs delivered under this Agreement must originate from a Renewable Energy Resource generating facility certified by the PUCO and be registered with GATS. One REC represents the Environmental Attributes made available by the generation of one megawatt-hour “MWh” (equivalent to 1000 kilowatt-hours) of electricity from one or more Renewable Energy Resources, except for biomass, in which case the RECs shall be calculated according to the rules and regulations developed and in effect by the PUCO. For purposes of this Agreement, RECs shall include “Solar Renewable Energy Credits” or “SRECs” unless otherwise specified. RECs that were produced by a certified, eligible Renewable Energy Resource after January 1, 2019 and extending through December 31, 2021 and are approved by the PUCO are acceptable for Delivery to Buyer provided such RECs comply with the requirements of this Agreement.
Examples of REC Supplier Security in a sentence
REC Supplier shall have the obligation, in such case, to meet Buyer’s performance assurances or alternatively post and maintain REC Supplier Security in an amount of 5% of the total notional dollar value of this Agreement.
REC Supplier shall have the right to replace such REC Supplier Security with a different REC Supplier Security in the required amount subject to the REC Supplier providing prior notification to Buyer describing such replacement and confirming that the replacement conforms to the requirements of this Agreement.