A general description of documents to be executed is provided below. These descriptions are not complete and should not be relied upon by any bidder.
Contract for Sale of Output from the Rocky Reach Project and Rock Island Project
This contract is also referenced as the “Output Contract.” This agreement governs the sale of the slice product of the Rocky Reach Project and Rock Island Project, from January 1, 2024 through December 31, 2028. The Output Contract includes three appendices: (1) Appendix A includes a description of rights associated with the Output, operational issues and applicable agreements; (2) Appendix B will be the completed Bid Form submitted by the successful bidder showing the Purchase Price to be paid and (3) Appendix C contains Start Cycle Tracking Methodology. The Output Contract describes that the Purchaser is only entitled to receive its percentage share of Output (Energy, Capacity and related rights as described in Appendix A). There is no guaranteed amount of Energy or Capacity.
Master
Confirmation Agreement to WSPP Agreement
This agreement governs all WSPP transactions entered into between the Parties and amends any prior Master Confirmation Agreements. The purposes of this agreement include (1) netting of all obligations between the Slice Contracts and WSPP transactions; (2) cross default between the Slice Contracts and WSPP transactions; (3) applying the collateral as required in the Collateral Annex to payments due under all WSPP agreement/transactions as well as the Slice Contracts; and (4) making other changes as contained in that Master Confirmation Agreement. The terms of this Agreement are not negotiable.
Collateral Annex to the Agreements
The Collateral Annex is based upon the WSPP proposed form. The Collateral Annex is intended to address collateral requirements applicable to the Slice Contracts and WSPP transactions. The terms of this Agreement are not negotiable.
Cover Sheet Elections applicable to the Collateral Annex to the Agreements
The Cover Sheet Elections is based upon the WSPP proposed form and is part of the Collateral Annex described above. The District will only accept a Letter of Credit from an LC Issuer as described in the Collateral Annex. The District is willing to discuss some provisions as appropriate during the pre-qualification process, but the terms are not negotiable after the bids are submitted.
Guaranty
A guaranty may be required depending upon the counterparty’s creditworthiness and collateral requirements. This will be discussed during the prequalification process.