Bay Area Residents to Save $65 Million with MCE’s Clean Energy Projects

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,” said Maíra Strauss, MCE’s Vice President of Finance. “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.”

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.

MCE | https://mcecleanenergy.org/

California Community Choice Financing Authority | www.cccfa.org