Evolution Markets Inc. announces today it will conduct an auction of Renewable Energy Certificates (RECs) on behalf of the Massachusetts Clean Energy Center (MassCEC). The auction is slated for May 02, 2012 and includes RECs from three separate projects. For this auction, MassCEC plans to offer 22,575 Vintage 2011 Massachusetts Class I Renewable Certificates generated in the third and fourth quarters of 2011.
“New England REC pricing has returned to robust price levels over the last few months, and the Massachusetts Clean Energy Center auction is well timed to offer much needed supply to the market,” said Andrew Kolchins, Managing Director, Renewable Energy Markets. “We expect healthy demand for the Massachusetts RECs the Center will put on offer in May.”
The auction will feature RECs generated by three different renewable energy projects: the Ameresco Chicopee landfill gas-to-energy facilities 1, 2, and 3, the Greater New Bedford Landfill Gas Utilization Project, and the Massachusetts Renewable Energy Trust GAHI Photovoltaic Installation Aggregation. Renewable energy certificates from each project have been approved by the Massachusetts Department of Energy Resources (DOER) as eligible sources under the Massachusetts Renewable Portfolio Standard (MA RPS). These RECs will be sold in three lots of 10,000 RECs, 7,575 RECs, and 5,000 RECs.
“Our investments in Massachusetts-based renewable energy generation continue to pay off with yet another auction of RECs from the Chicopee, New Bedford, and GAHI projects,” said MassCEC Chief Executive Officer Patrick Cloney. “We look forward to leveraging the Evolution Markets auction platform to continue to generate revenue that can be reinvested in a diverse portfolio of New England renewable energy facilities.”
The auction will use Evolution Markets’ proprietary online auction platform, EvoAuctionSM. Participants in the auction may submit bids using an on-screen bidding platform administered by Evolution Markets, in addition to submitting bids via telephone. The secure platform allows market participants to register for the auction in advance, post and view real-time bids during the open bidding process, and submit a final sealed bid during the last phase of the auction.
Interested market participants may register with Evolution Markets by emailing Andrew Kolchins at: email@example.com. Qualified bidders will be provided a login ID and password, and they will be able to post bids beginning at 10:30 am EST on the day of the auction. All bids will remain anonymous to the market. Qualified bidders will be able to view all bids posted until the end of the open bidding period at 11:30 am EST on the auction day. Bidders that submitted bids during the open phase will then have until 12:00 pm EST to submit their final sealed bid either online or by telephone. Final sealed bids will not be available for viewing. Participants wishing to submit bids via telephone will have their bids entered into the online system by Evolution Markets.
For more information on the auction, please view our news release, or contact Andrew Kolchins at: +1 914.323.0257