Operations Board of Directors
August 24, 2023
Operations Board of Directors
CLOSED SESSION
Approve and Authorize the CEO to Execute an Amended and Restated Power Purchase Agreement with 64NB 8me LLC, and any necessary ancillary documents, to increase the size and discharge of the energy storage system in an Amount Not to Exceed $465,000,000
4 About Aratina Solar + Storage Project
Original PPA
Amended and Restated PPA
Counterparty
64NB 8me LLC
64NB 8me LLC
Parent Company
8minute Solar Energy
Avantus
(formerly 8minute Solar Energy)
Product
Solar PV PCC1 renewable energy and dispatch rights of Energy Storage system.
Solar PV PCC1 renewable energy and dispatch rights of Energy Storage system.
Delivery Term
20 years
June 30, 2023, through June 29, 2043
20 years
June 1, 2025, through May 31, 2045
Contract Capacities
120 MW Solar PV
30 MW Energy Storage (Lithium-Ion), 3‐hour Discharge Duration 120 MW Solar PV
75 MW Energy Storage (Lithium-Ion), 4‐hour Discharge Duration Location
Kern County
Kern County
Not to Exceed Amount ($,000)
$261,000,000
$465,000,000
Approval of the Amended & Restated PPA will preserve and enhance the project’s value to 3CE, allowing us to meet our aggressive goal of 100% RPS by 2030, ensuring regulatory compliance, and increasing our energy hedging abilities.