...Title
Action Related to Long Term Renewable Energy and Resource Adequacy Contracts.
...Recommendations
(a) Adopt a resolution authorizing the Director of the Community Energy Department or the Director’s designee to negotiate and execute:
(1) An amendment to the power purchase agreement by and between the City of San José and RE Scarlet LLC, a subsidiary of EDP Renewables North America LLC, to buy renewable energy, resource adequacy, renewable energy credits, and attributes associated with a solar photovoltaic and battery storage facility for a term of 20 years beginning 2023 through 2043, in an amount not to exceed $8,781,000 annually and $175,620,000 in the aggregate, to be paid solely from the San José Clean Energy Operating Fund and subject to the annual appropriation of funds; and
(2) An agreement with EDPR Scarlet 2 BESS LLC, a subsidiary of EDP Renewables North America LLC, to buy resource adequacy associated with a solar photovoltaic and battery storage facility for a term of 10 years beginning 2024 through 2034, in an amount not to exceed $6,075,000 annually and $60,750,000 in the aggregate, to be paid solely from the San José Clean Energy Operating Fund and subject to the annual appropriation of funds.
(b) Adopt a resolution authorizing the Director of the Community Energy Department or the Director’s designee to negotiate and execute an agreement with BCE Seal Beach, LLC, a subsidiary of Bright Canyon Energy Corporation, to buy renewable energy, resource adequacy, renewable energy credits, and attributes associated with a solar photovoltaic and battery storage facility for a term of 10 years beginning 2024 through 2034, in an amount not to exceed $3,300,000 annually and $33,000,000 in the aggregate, to be paid solely from the San José Clean Energy Operating Fund and 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. (Community...
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