04-26-2021 BPU RPT 07 - Laserfiche WebLink

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W A T E R E N E R G Y L I F E RIVERSIDE PUBLIC UTILITIES Board Memorandum P U B L I C U T I L I T I E S BOARD OF PUBLIC UTILITIES DATE: APRIL 26, 2021 SUBJECT: CALIFORNIA AIR RESOURCES BOARD / RIVERSIDE PUBLIC UTILITIES GREEN POWER PURCHASE AGREEMENT ISSUE: Consider a recommendation to the City Council for the approval of the California Air Resources Board / Riverside Public Utilities Green Power Purchase Agreement to allow Riverside Public Utilities to serve the net energy needs of the California Air Resources Board's new Southern California Headquarters facility with 100% renewable energy for a term of 20 years, at a fixed cost of $0.0179/kilowatt (kWh) above the facility's otherwise applicable tariff. RECOMMENDATIONS: That the Board of Public Utilities recommend that the City Council: Approve the Green Power Purchase Agreement with the California Air Resources Board to serve the net energy needs of their new Southern California Headquarters facility with 100% renewable energy for a term of 20 years, at a fixed cost of $0.0179/kWh above the facility's otherwise applicable tariff; and 2. Authorize the City Manager, or designee, to execute the Green Power Purchase Agreement and all documents necessary to administer the Agreement, including the ability to make non -substantive changes, or if needed, to terminate the Green Power Purchase Agreement in accordance with Agreement terms and conditions. BACKGROUND: In March 2016, the California Air Resources Board (CARB) announced that they intended to build their new state-of-the-art $419 million, 380,000 -square -foot headquarters and research facility within the City of Riverside, near the University of California, Riverside campus. As stated in their news release, CARB chose this 19 acre site near the Riverside campus because this site "would provide the best opportunity for growth in the coming decades, and for collaboration with [the] world-class air quality research already underway at UC Riverside." The development of this facility is expected to provide significant economic benefits to the City, while bringing as many as 460 high -paying jobs into the area.