California nonprofits issue $2 billion in bonds to buy 30 years of renewable energy upfront

Utility Dive

Three community choice aggregators (CCA) in California issued $2 billion in bonds to pay upfront for about 450 MW of renewable energy over 30 years.

By routing bonds to purchase clean energy through the California Community Choice Financing Authority (CCCFA), the three public energy suppliers expect to save 8-12% on the cost of energy. The financial structure of the transaction will allow the CCAs to take advantage of both bulk energy discounts and the difference between taxable and tax-exempt rates, according to Garth Salisbury, director of finance and treasurer for MCE, a CCA that provides power to 37 San Francisco Bay Area communities.

Read more here: California nonprofits issue $2 billion in bonds to buy 30 years of renewable energy upfront | Utility Dive