...Title
San Diego Community Power Resource Adequacy Trade.
...Recommendations
Adopt a resolution authorizing the Director of the Energy Department or their designee to negotiate and execute two agreements, one to purchase and one to sell resource adequacy, with any non-material modifications developed, as appropriate, in consultation with the City Attorney, and subject to the annual appropriation of funds:
(a) Under the first agreement, the City of San José shall purchase resource adequacy from San Diego Community Power from a new solar plus battery storage facility for 10 years, beginning no later than January 1, 2029, with an annual not to exceed amount of $4,320,000, and an aggregate not to exceed amount of $43,200,000; and
(b) Under the second agreement, the City of San José shall sell resource adequacy to San Diego Community Power from a natural gas-fired combined cycle generating facility for 10 years, beginning no later than January 1, 2029, with an annual not to exceed amount of $4,770,000, and an aggregate not to exceed amount of $47,700,000.
CEQA: Not a Project, File No. PP17-003. Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. (Energy)