First solar inc kingbird solar project power purchase agreement
Sponsored Links
This presentation is the property of its rightful owner.
1 / 16

First Solar, Inc. Kingbird Solar Project Power Purchase Agreement PowerPoint PPT Presentation

  • Uploaded on
  • Presentation posted in: General

First Solar, Inc. Kingbird Solar Project Power Purchase Agreement. City Council – Agenda Item 13 September 9, 2013. Project & Contract Overview. 20 MW (AC) single-axis tracking solar PV To be located on 324 acres in Rosamond, CA

Download Presentation

First Solar, Inc. Kingbird Solar Project Power Purchase Agreement

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript

First Solar, Inc.Kingbird Solar ProjectPower Purchase Agreement

City Council – Agenda Item 13

September 9, 2013

Project & Contract Overview

  • 20 MW (AC) single-axis tracking solar PV

  • To be located on 324 acres in Rosamond, CA

    • Site includes Kingbird B (another 20 MW project – output purchased by SCPPA)

  • Guaranteed commercial operation by January 2016 (Fiscal Year 2016)

    • Add approx. 5.5% RPS

  • PWP to pay for all energy “as available”

    • ~60,000 MWh/year (1st year)

    • Expected output degradation ~0.5% per year

  • Price = $68.50/MWh through term of contract

  • Includes Resource Adequacy capacity

  • Option to Purchase

  • 20 year term with option to extend by 5 years

Project Benefits

RPS Category 1 resource relatively close to Pasadena

Feasible to operate and maintain if purchased

Project Benefits

  • Portfolio Fit

    • Project size is a good match for PWP requirements

      • 20 MW x 33% Capacity Factor

    • PV production is variable, but generally aligns well with PWP demand

Project Benefits

  • Viability

    • Several initial milestones already achieved

      • Site control, interconnection studies, CEC pre-certification, CEQA;

    • Experienced project developer (First Solar, Inc.) with several utility scale projects already operating/under construction

    • Solar PV is a proven technology

Project Benefits

  • Value

    • Renewable energy, environmental attributes and system resource adequacy.

    • Facility purchase option at the 10th, 14th, or 18th contract year, or in the event of a default under the power purchase agreement.

    • Price is competitive with other offers for similar renewable products.


  • Some risks Include:

    • Project development/construction failure or delay

    • Counterparty credit/default

    • Resource underperformance

    • Comparative price risk

      • Future or alternative resources may have lower prices

  • Contractual provisions attempt to mitigate many risks, e.g.:

    • Performance security

    • Liquidated damages

    • Guaranteed energy production

  • Although there is risk that future resources may have lower prices, this contract is also a hedge against future price increases and volatility

Price Comparison

Renewable Energy Contracts Price Comparison

[1] Contract prices exclude costs of transmission, losses, and integration fees[price with * does not include RA capacity; all others do]

Renewable Portfolio

Current Renewable Energy Portfolio Summary (GWh)

[1] A gigawatt-hour (“GWh”) is equal o 1,000 megawatt-hours (“MWh”)

Impact for a Typical Customer Using 500 KWh/Month


(without Kingbird)

FUTURE(2016 onward with Kingbird)*

Total $87.20

Total $87.72

*Assumes other charges in the electric bill remain the same as current bill

Note: Current total bill includes all existing renewable contracts

Fiscal Impact - Cumulative

Before Kingbird:

After Kingbird:

Cumulative net impact of all renewable contracts in the energy portfolio:

Approximately $8.5 million per year

Approximately 0.73 cents per kWh starting in January 2016

  • Cumulative net impact of all existing renewable contracts in the energy portfolio:

    • Approximately $7.3 million per year

    • Approximately 0.62 cents per kWh

  • Cumulative net impact will increase by approximately:

  • $1.2 million per year

  • 0.11 cents per kWh

  • $0.52/month for a 500 kWh average customer

Thank You ~ Questions?

Back Up Slides

Appendix – RPS Portfolio After Kingbird

Selection Process

Project was offered July 24, 2013 into, and selected as part of, the open SCPPA Request for Proposal process.

Determined by PWP to be one of the “best fit/least cost” resources from among almost 300 offers.

Also determined to be exempt from Pasadena’s competitive bidding rules as a contract for professional or unique services, and as a contract potentially relating to the acquisition of real property(includes a purchase option).

First Solar Experience


First Solar Experience (cont.)


  • Login