Silicon Valley Clean Energy Authority
Board of Directors Meeting
Wednesday, August 13, 2025
6:00 pm
Sunnyvale Civic Center
456 W. Olive Ave
Sunnyvale, CA
Gilroy City Hall
Administration Conference Room
7351 Rosanna Street
Gilroy, CA
Villanueva 547
M5507 Lujan de Cuyo
Mendoza, Argentina
MEETING MINUTES
Call to Order:
Chair Tyson called the meeting to order at 6:01 p.m.
Roll Call
Present:
George Tyson (Chair), Los Altos Hills
Larry Klein (Vice Chair), Sunnyvale
Elliot Scozzola, Campbell
J.R. Fruen, Cupertino
Tom Cline, Gilroy (participated remotely; joined the meeting at 6:05 p.m.) Sally Meadows, Los Altos
Rob Rennie, Los Gatos
Bryan Mekechuk, Monte Sereno (participated remotely)
Yvonne Martinez Beltran, Morgan Hill
Pat Showalter, Mountain View
Otto Lee, Santa Clara County (arrived at 7:05 p.m.)
Tina Walia, Saratoga
Absent:
Garry Barbadillo, Milpitas
A quorum was present.
Public Comment on Matters Not Listed on the Agenda
No speakers.
Docusign Envelope ID: 8EE33706-6682-41DC-AF0B-38A3EDD50D03
Public Comment on Matters Not Listed on the Agenda
No Speakers.
Closed Session
The Board of Directors convened to Closed Session at 6:05 p.m. Alternate Director Cline joined Closed Session remotely at 6:05 p.m.; Director Scozzola arrived and joined the Closed Session at 6:10 p.m.
Conference with Legal Counsel
Anticipated Litigation Initiation of litigation pursuant to paragraph (4) of subdivision (d) of Gov. Code Section 54956.9: (one potential case)
The Board of Directors reconvened from Closed Session at 7:00 p.m.
Report from Closed Session
Andrea Pizano, Board Clerk, reported the Board directed staff to initiate litigation with a unanimous vote in Closed Session from the following members:
Director Elliot Scozzola
Director J.R. Fruen
Alternate Director Tom Cline
Director Sally Meadows
Chair George Tyson
Director Rob Rennie
Director Bryan Mekechuk
Director Yvonne Martinez Beltran
Director Pat Showalter
Director Tina Walia
Vice Chair Larry Klein
Consent Calendar
There were no questions or comments from the Board; there were no requests from the public to speak on any matter on the Consent Calendar.
1a) Approve Minutes of the June 11, 2025, Board of Directors Meeting 1b) Receive July 2025 Treasurer Report
1c) Authorize the Chief Executive Officer to Execute Agreement with EcoMetricx for Three Years with a Not to Exceed Amount of $800,000 for Cloud Infrastructure Implementation 1d) Approve SVCE 2024 Annual Power Source Disclosure Report Attestation 1e) Approve an Allocation of Program Fund Dollars of $4.4 million to Expand the Home Rebates Program
1f) Adopt SVCE’s Revised Load Management Standards Compliance Plan 1g) Receive June 2025 Decarbonization Strategy and Programs Quarterly Report 1h) Adopt Resolution Amending the Location for Regular Silicon Valley Clean Energy Board of Directors Regular Meetings
1i) Authorize the Chief Executive Officer to Execute a Three-Year Agreement with Maher Accountancy for a Not to Exceed Amount of $1,125,100.00 for Accounting and Audit Support Services
1j) Adopt Resolution Authorizing the Chief Executive Officer to Finalize Negotiations and Execute Master Agreement with J. Aron & Company LLC to Enable the Execution of Energy Transactions
Docusign Envelope ID: 8EE33706-6682-41DC-AF0B-38A3EDD50D03
1k) Authorize the Chief Executive Officer to Execute an Amended and Restated Scheduling Coordinator Agreement and an Amended and Restated Agreement to Provide Scheduling Agent and Energy Management Services to Incorporate Resource Optimization Functions into the Service with a Combined Not to Exceed Limit of $1,700,000 through December 31, 2026, and an Annual Renewal Not to Exceed of $1,400,000 for Tenaska Power Services 1l) Authorize the Chief Executive Officer to Execute Agreement for Elevator Modernization and Maintenance Services for Silicon Valley Clean Energy Headquarters in an Amount Not to Exceed $400,000
1m) Receive Finance and Administration Committee Report 1n) Receive Additional Committees Report
1o) Receive California Community Power Report
MOTION: Director Mekechuk moved and Director Fruen seconded the motion to approve the Consent Calendar, Items 1a through 1o.
The motion carried by verbal roll call vote with Directors Barbadillo and Lee absent.
Special Hearing
2) Public Hearing in Compliance with Government Code § 3502.3 Regarding Vacancy Rates, Recruitment, and Retention Efforts (Discussion)
Director Lee arrived during Item 2.
Gia Ilole, Director of Human Resources, reviewed new requirements from the addition of Government Code Section 3502.3, effective January 1, 2025, for public agencies to hold a public hearing to present information on staff vacancy status, recruitment and retention efforts, and any changes to policies, procedures or recruitment activities.
Director of Human Resources Ilole reviewed SVCE’s vacancies and recruitment information, provided an update on staff retention, and noted there were no changes in Board-approved policies and/or internal practices that would lead to obstacles in the hiring process.
Chair Tyson opened Public Comment.
No speakers.
Chair Tyson closed Public Comment.
Regular Calendar
3) CEO Report (Discussion)
Chief Executive Officer (CEO) Monica Padilla addressed the following in her report:
1) Staff promotion announcement for Nikolas Zanotto, who was promoted from Senior Manager of Technology and Administrative Services to Director of Operations; 2) Introduction of two summer interns, Alon Robbins, Customer Success, and Elizabeth Floyd, Power Resources and Operations, who both provided brief welcome comments; and 3) A legislative update from Bena Chang, Director of Government and Legislative Affairs.
Chair Tyson opened Public Comment.
No speakers.
Chair Tyson closed Public Comment.
Docusign Envelope ID: 8EE33706-6682-41DC-AF0B-38A3EDD50D03
4) Adopt Resolution Authorizing the Chief Executive Officer to Execute the Power Supply Contract with the California Community Choice Financing Authority and Related Supporting Agreements (Action)
Amrit Singh, Chief Financial Officer (CFO), presented a request for the Board of Directors to adopt a resolution authorizing the CEO to execute the Power Supply Contract with the California Community Choice Financing Authority and execute or approve the related supporting agreements to enable SVCE to enter an approximately 30-year energy prepayment transaction with authority to make any minor clarifying modifications to the contracts and agreements as necessary that do not change the intent or economics of the transaction. Staff also requested the Board authorize the CEO to enter into agreements with credit rating agencies, generally, to provide a credit rating for the bonds.
CFO Singh noted the Board’s authorization would be subject to the following parameters.
1. The Bonds, issued by CCCFA, will not be guaranteed obligations of SVCE but will be limited obligations of CCCFA payable solely from the revenues and other amounts pledged under the Indenture as the Trust Estate, including amounts owed by SVCE under the Power Supply Contract.
2. The aggregate principal amount of the Bonds shall not exceed $1,250,000,000.
3. The energy savings to SVCE under the Power Supply Contract for the initial Bond Reset Period, including the Annual Refund (as defined in the Power Supply Contract), shall be at least 8 percent.
4. The energy Service Revenue fee in the transaction shall not exceed $1.10 per MWh.
5. The commodity swap counterparty fee in the transaction shall not exceed $0.50 per MWh.
6. If any floating rate bonds are issued, Morgan Stanley shall charge no more than six basis points on the interest rate swap spread to mid-market; and
7. The 8 percent saving is relative to a fixed price for energy deliveries under the power supply contract that will be established at the time of the pricing of the bonds using available energy market prices and other information that will be reviewed and approved by SVCE’s financial advisor, PFM Financial Advisors LLC.
CFO Singh responded to a question regarding tax-exempt and taxable bonds, and the impact of the recently passed tax bill by the new administration.
Chair Tyson opened Public Comment.
No speakers.
Chair Tyson closed Public Comment.
MOTION: Director Walia moved and Director Scozzola seconded the motion to adopt Resolution-2025-16 authorizing the Chief Executive Officer to execute the Power Supply Contract with the California Community Choice Financing Authority, and to execute or approve the related supporting agreements, and to authorize the CEO to enter into agreements with credit rating agencies.
The motion carried by verbal roll call vote with Director Barbadillo absent. 5) Authorize the Chief Executive Officer to Execute a 10-Year Power Purchase Agreement with IP Darden III, LLC for Up to 93.01 MW of Solar Photovoltaic Energy and a 91.48 MW Co-located, Four-Hour Battery Energy Storage System (Action) Britta Bradshaw, Power Resources Manager, presented a request for the Board of Directors to authorize the CEO to execute a Power Purchase Agreement (PPA) with IP Darden, LLC for the procurement of co-located solar energy and battery energy storage (BESS) in substantial form and any non-substantive sequential amendments and ancillary agreements.
Docusign Envelope ID: 8EE33706-6682-41DC-AF0B-38A3EDD50D03
Power Resources Manager Bradshaw provided an update on executed SVCE long-term PPAs, various procurement efforts towards meeting SVCE’s procurement goals, information on the IP Darden III project, update on SVCE’s annual Renewable Portfolio Standard (RPS) and compliance with the long-term RPS procurement mandate, reviewed potential risks of project engagement, and reviewed the benefits of the project.
Chair Tyson acknowledged a public comment letter was received for the item.
Chair Tyson opened Public Comment.
No speakers.
Chair Tyson closed Public Comment.
Staff responded to questions and comments regarding SVCE’s portfolio diversification, project development security, SVCE’s investments in power procurement, and project site land size and prior usage.
MOTION: Director Martinez Beltran moved and Vice Chair Klein seconded the motion authorizing the Chief Executive Officer to execute an agreement with IP Darden III, LLC for the procurement of co-located solar energy and battery energy storage (BESS) in substantial form and any non-substantive sequential amendments and ancillary agreements as follows:
a) Up to 93.01 MW, or approximately 250,000 – 270,000 MWh per year; b) 91.48 MW or 365.92 MWh 4-hour battery energy storage; c) 10-Year term PPA with expected commercial operation dates (COD) and term from June 1, 2028, through May 31, 2038; and
d) Total amount not-to-exceed $330,000,000.
The motion carried by verbal roll call vote with Director Barbadillo absent.
Following the vote, Director Mekechuk departed from the meeting before Item 6. 6) Provide Feedback on the Fiscal Year 2025-26 Proposed Operating Budget, and the Proposal to Maintain the Current Financial Reserves Targets and Policy (Discussion) CFO Singh presented a request for the Board of Directors to provide feedback on the proposed Fiscal Year 2025-26 operating budget with a recommendation to maintain the current financial reserves targets and policy. CFO Singh’s presentation included information on the following:
1. Overview of budget timeline and key highlights, consisting of a negative contribution to reserves for FY 26, no major recommended changes to the budget, a recommendation to revisit the customer discount in December, and a relatively minor increase in operating expenses;
2. Proposed budget forecast and comparison to FY 25 mid-year adjusted budget;
3. Reserves projection;
4. Reserve management;
5. Review of reserve targets and policy; and
6. Review of other operating expenses and transfers.
Staff responded to comments and questions regarding notifications for the customer bill credit that was approved from the FY 2024-25 budget; SVCE reserves comparison with other CCAs; customer California Alternate Rates for Energy (CARE) and Family Electric Rate Assistance (FERA) program discount rates; Pacific Gas and Electric (PG&E) rate-setting and timing for the upcoming year; SVCE’s reserves and if there was consideration to reduce the discount for customers to one percent less than PG&E’s rates earlier than January 2026; sharing longer-term concerns to customers on reduced rates for the organization; anticipated transmission and distribution (T&D) rates; possibility of when the power charge Docusign Envelope ID: 8EE33706-6682-41DC-AF0B-38A3EDD50D03
indifference adjustment (PCIA) charge may end; if oil prices may be affecting the cost of energy; timing on certainty of PG&E’s rates; and driving customers to electrify.
Chair Tyson opened Public Comment.
No speakers.
Chair Tyson closed Public Comment.
7) Introduction to Fiscal Year 2025-26 Strategic Focus Areas and Strategic Plan (Discussion) CEO Padilla presented an overview of SVCE’s proposed fiscal year (FY) 2025-26 Strategic Focus Areas and Strategic Plan which included:
• A review of the FY 2025-26 Strategic Plan and Budget process and timeline • An overview of the Strategic Plan and Strategic Focus Areas • Existing Strategic Focus Areas
• Initial Feedback on Strategic Focus Areas and Recommendation for next steps CEO Padilla provided initial thoughts on progress for each of the Strategic Focus Areas, and proposed minor changes to the Strategic Focus Areas and Strategic Plan. Based on feedback received from the Executive Committee, staff proposed to move review of the Strategic Planning process to biennial starting in fiscal year 2025-26.
CEO Padilla responded to questions and comments regarding the progress ratings identified for the Strategic Focus Areas and how success is measured and tracked; customer accounts; stability of SVCE; support for biennial review; projection versus current assessment of the Strategic Focus Areas; and refining the definition of success, progress, and failure for future assessment.
Chair Tyson opened Public Comment.
No speakers.
Chair Tyson closed Public Comment.
8) Local Agency Action Planning Update (Informational)
Zoe Elizabeth, Director of Decarbonization Policy and Community Strategies, provided a status update on agency electrification readiness planning which included information on the passage of AB130, and a status snapshot of where member agencies are in the reach code adoption process.
Staff responded to comments and questions regarding the City of Sunnyvale’s first reach code reading and suggestion to put together a Frequently Asked Questions reference document for member agency staff/council members, and AB130 requirements for ground floor elevations to be included in future codes.
Chair Tyson opened Public Comment.
No speakers.
Chair Tyson closed Public Comment.
Board Member Announcements and Future Agenda Items
Director Lee announced he toured the Diablo Canyon Power Plant and suggested the SVCE Board schedule a tour; CEO Padilla noted staff would explore coordinating a tour.
Adjourn
Chair Tyson adjourned the meeting at 9:09 p.m.
ATTEST:
________________________
Andrea Pizano, Board Secretary
Docusign Envelope ID: 8EE33706-6682-41DC-AF0B-38A3EDD50D03