MBCP and SVCE Sign New 20-Year Contract for Renewable Energy

28 May 2020

Community Choice Energy (CCE) providers Monterey Bay Community Power (MBCP) and Silicon Valley Clean Energy (SVCE) announced the execution of a 20-year solar photovoltaic (PV) and battery storage contract with NextEra Energy Yellow Pine Energy Center I, LLC ("Yellow Pine"). The Yellow Pine contract will help the CCEs meet local clean energy goals, California energy goals and long-term procurement requirements.

"We are delighted to partner with NextEra Energy, increasing our solar generation and battery storage portfolio" said Tom Habashi, Chief Executive Officer, MBCP. "This long-term 20-year contract shows our dedication in partnership with SVCE to the advancement of renewable energy and battery storage in order to significantly reduce greenhouse gas emissions on behalf of the communities we serve."

The solar + storage project located in Clark County, Nevada will deliver California Renewable Portfolio Standard-eligible resources to both CCEs beginning December 2022 through November 2042. MBCP will be contracting for 75 MW of solar generating capacity and 39 MW of energy storage, serving 5% of its annual retail load. SVCE will contract for 50 MW of solar generating capacity and 26 MW of energy storage, serving 4% of its annual retail load.

"Adding this long-term solar and storage asset to SVCE's portfolio, in partnership with MBCP, keeps us on the fast lane to bending the carbon curve downward, and at the same time enhances reliability and affordability for all our customers," said SVCE Chief Executive Officer Girish Balachandran.  

The Yellow Pine contracts are a result of the joint Request for Offer (RFO) issued by MBCP and SVCE in April 2019. In addition to Yellow Pine, two geothermal contracts, one with Coso Geothermal Power Holdings and one with Ormat Technologies Inc., and a solar + storage contract with Rabbitbrush LLC. have been approved by both CCEs.  

Monterey Bay Community Power | http://www.mbcp.org  

Silicon Valley Clean Energy | https://http://www.svcleanenergy.org/