Iberdrola Renewables Announces Renewable Energy Sale to Roseville Electric
Will help public utility meet California clean energy standards with innovative energy package
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September 15, 2014
PORTLAND, Ore. — Iberdrola Renewables today announced a 10-year contract to supply Roseville Electric, the municipal electric utility of Roseville, California, with a package of renewable energy products. Roseville is seeking to increase the amount of energy it receives from renewable resources to 33% by 2020.
The deal will deliver firm quantities of renewable energy over time to help Roseville fulfill California’s renewable portfolio standard (RPS) obligation through 2024. Roseville is procuring all three qualifying renewable energy products in a single contract with Iberdrola Renewables to gain cost efficiencies and ease of compliance with the RPS law. The contract gives Roseville the flexibility to adjust the volumes as needed to economically manage its renewable energy supply. Iberdrola Renewables will manage all delivery requirements and source the energy and renewable energy credits from its renewable asset portfolio, which includes facilities certified by the California Energy Commission to meet the state’s RPS.
The City of Roseville’s City Council authorized the execution of the transaction at its meeting on September 3.
“We pride ourselves in providing reliable energy and outstanding service to our customers while ensuring we meet the state’s renewable energy goals,” said Roseville Electric assistant utility director Mike Bloom. “Roseville Electric Utility’s purchase of energy from Iberdrola Renewables is a significant step in helping us achieve the state’s renewable mandates.”
“With affordable wind energy assets in our portfolio, plus experience managing the California delivery requirements, we can reliably deliver clean power to our customers,” said Barrett Stambler, vice president of Iberdrola Renewables. “This deal strongly supports Roseville’s renewable energy goals, and takes advantage of our sophisticated scheduling and energy delivery capabilities.”
Iberdrola Renewables, LLC is the U.S. renewable energy division of parent company IBERDROLA, S.A., an energy pioneer with the largest renewable asset base of any company in the world. Iberdrola Renewables, LLC is headquartered in Portland, Ore., and has more than $10 billion of operating assets totaling more than 5,800 MW of wind and solar generation. www.iberdrolarenewables.us
Art Sasse, Iberdrola Renewables, 503-796-7740, 503-475-0330