Bay Area Residents to Save $65 Million With MCE’s Clean Energy Projects
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Bay Area Residents to Save $65 Million With MCE’s Clean Energy Projects
Community Choice Finance Authority Issues Over $1 Billion in Green Bonds to Finance Renewable Energy
SAN RAFAEL and CONCORD, Calif. — In its third transaction, MCE, in partnership with the California Community Choice Financing Authority (CCCFA), issued over $1 billion in green bonds on June 18, 2025.
The bonds will finance 775,000 megawatt-hours of renewable energy annually, enough to power 105,000 homes each year for the next 10 years.
“With this effective financing tool, we’ll provide about $65 million in gross savings to MCE customers over the next ten years. By paying for energy upfront, we reduce costs for our customers by about 11%. It means more renewable electricity at stable and competitive rates, reduced pollution, and healthier communities.
– Maira Strauss, MCE’s Vice President of Finance
These tax-exempt green bonds will:
- Prepay four of MCE’s long-term renewable energy power purchase agreements
- Save 11% on prepaid energy for the first 10 years, with future savings subject to market conditions
- Provide nearly $7 million in upfront savings in the 2025/2026 fiscal year and approximately $6.4 million annually for the next nine years
- Support competitive rates for MCE customers and reinvestment in local clean energy projects
Since 2021, MCE has completed three prepay transactions to purchase renewable energy at lower costs, all of which have realized at least 10% in cost savings for its customers.
As a not-for-profit, MCE partners with CCCFA to issue tax-exempt bonds to prepay for energy from diverse renewable sources, including solar, wind, and geothermal. The creative funding approach for clean energy projects uses financing tools previously used primarily for polluting fossil fuel projects.
With this latest transaction, MCE and CCCFA continue to lead the way with innovative financing to fast-track California’s clean energy transition.
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About MCE: MCE is a not-for-profit public agency and the preferred electricity provider for more than 585,000 customer accounts and 1.5 million residents and businesses across Contra Costa, Marin, Napa, and Solano counties. Setting the standard for clean energy in California since 2010, MCE leads with 60-100% renewable, fossil-free power at stable rates, serving a 1400 MW peak load, significantly reducing greenhouse emissions, and reinvesting millions in local programs. For more information about MCE, visit mceCleanEnergy.org, or follow us on your preferred social platform @mceCleanEnergy.
About California Community Choice Financing Authority (CCCFA): CCCFA was established in 2021 with the goal to reduce the cost of power purchases for member community choice aggregators (CCAs) through pre-payment structures. The founding members of CCCFA include Central Coast Community Energy, Clean Power Alliance, Ava Community Energy (formerly East Bay Community Energy), Marin Clean Energy, and Silicon Valley Clean Energy. CCCFA is a Joint Powers Authority which can help member CCAs save up to 10% or more on power purchase agreements, helping reduce costs for ratepayers and increase available funding for local programs. CCCFA has issued over $18 billion in tax-exempt prepayment revenue bonds for its member CCAs saving over $100 million/year in the cost of renewable energy. Learn more at www.cccfa.org/.
