City Council Meeting Date: July 18, 2017
To: Honorable Mayor and City Council
From: Brenda Angelstad, Finance Director
Justin Wagner, Utilities Manager
Ben Martig, City Administrator
Title
Consideration of Community Solar Subscription Agreement.
Body
Action Requested:
Staff will be recommending a motion to authorize a community solar garden subscription agreement with one or more of the developers noted below, subject to legal review and final City Council approval of contract.
Note: Formal recommendation will be provided to the City Council via a supplemental memo on Monday, July 17.
Summary Report:
Staff has continued to explore options for potential investment of city power usage in a community solar subscription. Three potential developers, MN Community Solar, ReneSola, Innovative Power Systems, were asked to draft proposals based on consistent assumptions of 1.5MW power usage and a 2.75% annual Xcel rate increases. The proposals are attached.
MN Community Solar has a subscription deadline of July 18th in order to meet their financing and construction timelines. Staff is requesting Council consideration of their proposal at a minimum based on MN Community Solar’s deadline.
Alternative Options:
Not applicable. Staff is currently developing recommendations and alternative options to be provided via a supplemental memo on Monday, July 17.
Financial Impacts:
Staff continues to review and supplemental materials may be distributed prior to meeting. See attached background information for proposal details and financial summary in the presentation.
Tentative Timelines:
August 8th - Council consideration of final contract or contracts for approval.