The Sonoma Clean Power Authority (“SCP”), established in 2012, is a governmental public power provider operating a Community Choice Aggregation (“CCA”) serving Sonoma and Mendocino counties. SCP provides electricity to over 230,000 residential and business accounts with about $240 million in annual sales. SCP serves 86% of eligible electric customers in the cities of Cloverdale, Cotati, Fort Bragg, Rohnert Park, Petaluma, Point Arena, Santa Rosa, Sebastopol, Sonoma, Willits, the town of Windsor, and the unincorporated counties of Mendocino and Sonoma. Key objectives of SCP include cost-effective reduction of greenhouse gas emissions, rate stability, promoting development of local renewable energy resources that are reliable and sustainable, and investing in the local economy.
SCP is interested in exploring an energy prepayment transaction. The prepayment structure would target existing renewable power purchase agreements (“PPAs”). To help SCP’s evaluation efforts, we are distributing this request to address 1) firm qualifications and 2) core terms of your firm’s transaction structure. We welcome your response if your firm is capable of providing a structure that addresses the primary desire of SCP to prepay existing PPAs.
