...Title
Long Term Power Purchase Agreement with Shell Energy North America.
...Recommendations
Adopt a resolution authorizing the Director of the Energy Department or her designee to negotiate and execute a long-term power purchase agreement with Shell Energy North America (US), L.P., to buy renewable energy, renewable energy credits, Resource Adequacy, and attributes associated with a geothermal facility for a term of 15 years beginning 2026 through 2041, in an estimated annual amount of $8,300,000 and a not-to-exceed amount of $124,500,000 in aggregate, to be paid solely from the San José Clean Energy Operating Fund, subject to the annual appropriation of funds.
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. (Energy)