Silicon Valley Clean Energy Prepay Bonds Valued at $1.1 Billion

Public Power Current

California community choice aggregator Silicon Valley Clean Energy closed its third prepayment transaction for clean energy project bonds, “which offers substantial savings to the agency, a benefit passed on to customers through rate stability and maintaining a rate discount,” it said on Feb. 20.

The savings are approximately $7.7 million annually, a 13.1 percent discount on the cost of power representing about 77 megawatts of around-the-clock supply.

“The Clean Energy Project Bonds, valued at $1.1 billion, support the commitment of SVCE to be financially responsible and sound, which allows the agency to support customers and the community with their ongoing efforts to lower emissions for a safer, cleaner future,” the CCA said.

Read more here: Silicon Valley Clean Energy Prepay Bonds Valued at $1.1 Billion | American Public Power Association