Morning Brief: Philly signs an 80 MW PPA, Sunnova closes securitization of rooftop systems


Philadelphia and Engie sign PPA for Adams County project: The City of Philadelphia and Engie have agreed to terms on a power purchase agreement (PPA) for the city to purchase energy generated by the 80 MW Adams County solar farm. The project will break ground in the first half of 2020 and be operational in 2021. The solar farm will provide 22% of the electricity needed by city-owned buildings in Philadelphia. The city recently established a goal of powering all government buildings with 100% renewable energy by 2030. And for Philly-area readers looking for some construction work:

What: opportunity information session for qualified contractors and suppliers
When: February 13, 2020 at 8:30 a.m. – 10:30 a.m. EST
Where: First District Plaza, 3801 Market Street, renaissance room 3rd Floor, Philadelphia, PA 19104
Who: Seeking qualified construction and engineering sub-contractors

Source: Engie

Sunnova closes securitization of rooftop systems: Sunnova has closed the securitization of leases and power purchase agreements on its fleet of  residential solar and energy storage systems across 20 states, Guam, Puerto Rico, and Northern Mariana Islands. According to the company the two-tranche securitization includes $337.1 million in A- structured finance rated notes priced at a yield of 3.369% and $75.4 million in BB- structured finance rated notes priced at a yield of 5.579%. The securitization accounts for more than 23,000 solar rooftop systems. Source: Sunnova

Fayetteville municipal buildings two-thirds powered by solar: With a total of 10 MW in capacity over 2 projects, the utility-scale solar installations made by the city have led Fayetteville, Arkansas to becoming 66% powered by renewable energy across municipal buildings. While that may seem underwhelming at first, those buildings include two wastewater treatment plants. The start is impressive, but Fayetteville still has to meet its goal of powering all city facilities with renewable energy by 2030. Source: EcoWatch

Climate change is a defining issue for Nevada Democrats: The League of Conservation Voters and the Nevada Conservation League released the results of a poll of Nevada likely Democratic caucus-goers that finds climate change remains a top two issue for Nevada voters. the poll shows that:

  • Nearly nine in ten (86%) likely Democratic caucus-goers think climate and the environment is a very important or the most important issue of 2020.
  • When deciding who to support, climate change remains a top two concern for voters, second only to health care.
  • For likely Latinx caucus-goers, climate change is an even more important issue than health care or immigration.
  • Nearly four in ten (38%) believe candidates are not talking enough about climate change, while 41% said candidates were talking about the issue the right amount.

Full poll results are available here. Source: League of Conservation Voters and the Nevada Conservation League

Smithville, Texas approves 1 MW project: “Next month, Austin-based energy development company Go Big Solar will build a 1-megawatt solar farm on 24 acres beside the Smithville Municipal Airport that is expected to produce 6% of the city’s energy use, or the energy needed to power about 200 homes. The deal is expected to save the city at least $350,000 over a 25-year period, officials said.” Source: Austin-American Statesman

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