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Trade Secret
<br />Power Purchase Agreement
<br />39.960 kW DC SilfabSLG370M,
<br />40.00 kJV AC SolarEdge SE20k 480V 3Ph Inverter(s),
<br />SolarEdge P800 Power Optimizers & Unirac, Panelclaw
<br />(or equivalent) Ballasted Racking @ approximately 10°
<br />Xcel SolarRewards
<br />This POWER PURCHASE AGREEMENT (this
<br />"Agreement'), dated July 12, 2018, is between Green2 Solar
<br />Leasing, LLC a Minnesota Limited Liability Company, whose
<br />principal place of business is located at 5810 Nicollet Avenue,
<br />Minneapolis, MN 55419 ('Tenant'), and City of Roseville, a
<br />Minnesota City, whose principal place of business is located at
<br />2660 Civic Center Drive, Roseville, MN 55113 ("Customer").
<br />Tenant and Customer are sometimes also referred to in this
<br />Agreement jointly as "Parties", or individually as a "Party".
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<br />A. Tenant leases, operates and maintains Customer's
<br />photovoltaic solar electric system (the "Energy System")
<br />(further defined as the Project, and located at the
<br />installation location described above (the "Site') described
<br />above, all of which are defined in that certain Purchase
<br />Agreement (the 'Purchase Agreement') between
<br />Customer and Ideal Energies, LLC ( the "Seller") of even
<br />date herewith) pursuant to a Facility Lease Agreement (the
<br />"Facility Lease") between the Parties of even date
<br />herewith, and
<br />B. Tenant desires to sell renewable electric power inclusive of
<br />all rights to its available environmental attributes to
<br />Customer, and Customer desires to purchase from Tenant
<br />all such electricity which is produced by the Energy System,
<br />and
<br />C. Tenant or its affiliate has, or will, apply for the "Rebate'
<br />(defined in the Purchase Agreement) on behalf of
<br />Customer. After award of the Rebate and before the Final
<br />Project Completion date for the Energy System (defined in
<br />the Purchase Agreement), Customer will enter into an
<br />agreement(s) ("Utility Agreement') with the local utility
<br />("Utility") pursuant to which Customer will convey to the
<br />Utility, as may be required by the Utility Agreement, all
<br />Renewable Energy Credits ("RECs") for electricity
<br />produced by the Energy System for the term specified in the
<br />Utility Agreement, and
<br />D. The Customer may be eligible to participate in the Utility's
<br />Net Metering Program. Under this program, the energy
<br />generated from the Energy System is available for use and
<br />to reduce the total amount of energy that needs to be
<br />purchased from the Utility. Under this program, for months
<br />where the Energy System produces more kWh than the Site
<br />consumes, the Utility will compensate Customer at the
<br />applicable rate, and
<br />E. Pursuant to the Facility Lease, the Tenant may be eligible
<br />to receive a Federal Tax Credit from the U.S. Treasury
<br />equal to 30% of eligible Installation Cost of any Energy
<br />System ('Tax Credit') that is put into service during 2018
<br />or 2019.
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<br />NOW, THEREFORE, in consideration of the foregoing
<br />Recitals, the mutual promises of the Parties hereto and for other
<br />good and valuable consideration, the receipt and sufficiency of
<br />which hereby are acknowledged, the Parties agree as follows:
<br />Customer /
<br />Owner
<br />City of Roseville
<br />Installation
<br />** See Attached Installation Address
<br />Location / Site
<br />Schedule
<br />Xcel Premise #
<br />** See Attached Installation Address
<br />Schedule
<br />1. Contingency. The Parties performance under this
<br />Agreement is contingent on Final Project Completion
<br />(defined in the Purchase Agreement) occurring for the
<br />Project in accordance with the terms of the Purchase
<br />Agreement.
<br />2. Power Purchase. Tenant shall deliver all power generated
<br />from the Energy System to Customer at the point of
<br />interconnection shown on Schedule A of the Facility Lease.
<br />a. Customer will pay Tenant for all the power generated
<br />from the Energy System and delivered to the
<br />interconnection point by making the payments
<br />specified in Schedule A (the "Power Payments").
<br />b. In the event the DC Wattage of the Project installed
<br />differs from the size specified in the Purchase
<br />Agreement, a revised Schedule A will be provided that
<br />reflects the final Project installed
<br />c. The Power Payments for the Energy System are due
<br />monthly beginning on the first day of the first month
<br />following its Final Project Completion date and
<br />continuing each month until expiration of the Term
<br />(defined below) of this Agreement for the Energy
<br />System. Power Payments do not include any sales tax.
<br />Sales tax will be added to the Power Payments based
<br />on Customer's applicable sales tax rate. Customer
<br />authorizes Tenant to debit Customer's bank account to
<br />collect Power Payments when due under this
<br />Agreement until all Power Payments are received in
<br />full. Where Tenant does not collect payments via
<br />debiting Customer's account, Customer will mail
<br />payments to the Tenant to the address below.
<br />Green2 Solar Leasing, LLC
<br />5810 Nicollet Avenue
<br />Minneapolis, MN 55419
<br />3. Ownership of Renewable Energy Credits. Customer will,
<br />if required by the Utility Agreement, convey to the Utility all
<br />RECs generated by the Energy System for the term
<br />specified in the Utility Agreement. Subject to any required
<br />assignment to the Utility, Customer owns all RECs. For
<br />purposes of this Agreement, RECs include all attributes of
<br />an environmental or other nature that are created or
<br />otherwise arise from the Energy System, including without
<br />limitation tags, certificates or similar projects or rights
<br />associated with solar energy as a "green" or "renewable"
<br />electric generation resource. RECs shall also include any
<br />other environmental attribute intended to be transferred to
<br />the Utility under the Utility Agreement.
<br />4. Term. The term (the 'Term") of this Agreement for the
<br />Energy System shall begin on the date that Final Project
<br />Completion occurs for such Energy System and shall
<br />terminate on the date that is twenty (20) years after such
<br />Final Project Completion Date.
<br />5. Late Charge / Costs of Collection. In the event Customer
<br />fails to make any Power Payment when due, Customer
<br />agrees that the greater of $50, or interest due based on an
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