12-12-2016 BPU RPT 10 - Laserfiche WebLink

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W A I R h N h B L Y I. l F F WON RIVERSIDE PUBLIC UTILITIES PUBLIC UTILITIES Board Memorandum BOARD OF PUBLIC UTILITIES DATE: DECEMBER 12, 2016 ITEM NO: 10 SUBJECT: AMENDED AND RESTATED POWER PURCHASE AGREEMENT BETWEEN SOLAR STAR CALIFORNIA XXXIX, LLC AND THE CITY OF RIVERSIDE — SAN BERNARDINO WELLS SOLAR PHOTOVOLTAIC PROJECT FOR 25 YEARS AT AN ESTIMATED NET SAVINGS OF $17.9 MILLION OVER THE TERM OF THE AGREEMENT ISSUE: Recommend that the City Council approve the Amended and Restated Power Purchase Agreement between Solar Star California XXXIX, LLC and the City of Riverside for a cumulative 4.50 megawatt renewable solar photovoltaic energy generation to be located on City -owned Scheuer, Garner, and Cooley Wells properties in the County of San Bernardino. RECOMMENDATIONS: That the Board of Public Utilities recommend that the City Council: Approve the 25 -year Amended and Restated Power Purchase Agreement between Solar Star California XXXIX, LLC and the City of Riverside to design, construct, operate and maintain a cumulative 4.50 megawatt solar photovoltaic energy generation to be located on the Well Sites; 2. Authorize the City Manager, or his designee, to execute the Amended and Restated Power Purchase Agreement, as well as any future amendments or extensions to the Amended and Restated Power Purchase Agreement under the terms and conditions substantially similar or superior to this Amended and Restated Power Purchase Agreement; 3. Authorize the City Manager, or his designee, to execute any documents necessary to administer the Amended and Restated Power Purchase Agreement that are consistent with the established policies by the City Council; and 4. Authorize the City Manager, or his designee, to terminate the Amended and Restated Power Purchase Agreement for circumstances provided in the Amended and Restated Power Purchase Agreement. BACKGROUND: On April 2 and 21, 2015, the Board of Public Utilities and City Council, respectively, approved a Power Purchase Agreement (2015 PPA) with Solar Star California XXXIX, LLC (Solar Star) to develop solar photovoltaic (PV) facilities at four City -owned sites: Scheuer, Garner, Gage and Tippecanoe (Four Well Sites) as depicted in Figure 1. The resulting 2015 PPA reflected the balance of benefits, burdens, and risks to develop the Four Well Sites based on factors known at the time. The basic terms of the 2015 PPA are summarized in Table 1 below.