2018_09-25_PWETCpacket - Laserfiche WebLink

Home

Trade Secret Power Purchase Agreement 208.250 kW DC Monocrystalline350W, 166.50 kW AC SolarEdge SE33k 480V 3Ph Inverter(s), SolarEdge P730 Power Optimizers & Unirac, PanelClaw (or equivalent) Ballasted Racking @ approximately 100 Xcel Photovoltaic Credit Rider Tariff This POWER PURCHASE AGREEMENT (this "Agreement"), dated July 13, 2018, is between Green2 Solar Leasing, LLC a Minnesota Limited Liability Company, whose principal place of business is located at 5810 Nicollet Avenue, Minneapolis, MN 55419 ("Tenant"), and City of Roseville, a Minnesota City, whose principal place of business is located at 2660 Civic Center Drive, Roseville, MN 55113 ("Customer"). Tenant and Customer are sometimes also referred to in this Agreement jointly as "Parties", or individually as a "Party". :1xyv0%� A. Tenant leases, operates and maintains Customer's photovoltaic solar electric system (the "Energy System") (as located at the Installation Location (the "Installation Location") described above as defined in that certain Purchase Agreement (the "Purchase Agreement") between Customer and Ideal Energies, LLC (the "Seller') of even date herewith) pursuantto a Facility Lease Agreement (the "Facility Lease") between the Parties of even date herewith, and B. Tenant desires to sell renewable electric power inclusive of all rights to its available environmental attributes to Customer, and Customer desires to purchase from Tenant all such electric power which is produced by the Energy System, and C. Seller has or will apply for the Standby Service Tariff (the "Standby Service Tariff') as defined in the Purchase Agreement on behalf of Customer for the Project. After the Tariff is secured for the Project by Customer's executing agreements provided by the Utility required to receive the Tariff (the "Utility Agreements") pursuant to which the Customer owns all Renewable Energy Credits the (the "RECs") for electricity produced by the Energy System, and D. Customer should be eligible to participate in the Utility's Net Metering Program. Under this program, the energy generated from the Energy System is available for use and reduces the total amount of energy that needs to be purchased from the Utility. Under this program, for months where the Energy System produces more kWh than the site consumes, the Utility will compensate Customer at the applicable rate specified in the Utility Agreements, and E. Pursuant to the Facility Lease, the Tenant should be eligible to receive a Federal Tax Credit from the U.S. Treasury equal to 30% of the Energy System's eligible Installation Cost (the "Tax Credit") for Energy Systems that are put into service during 2018 or 2019. AGREEMENT NOW, THEREFORE, in consideration of the foregoing Recitals, the mutual promises of the Parties hereto and for other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the Parties agree as follows: 1. Contingency. The Parties performance under this Agreement is contingent on the Final Project Completion (as defined in the Purchase Agreement) occurring in accordance with the terms of the Purchase Agreement. Customer / Owner City of Roseville Installation 2661 Civic Center Drive, Roseville, MN Location 55113 XcelPremise# 303534506 2. Power Purchase. Tenant shall deliver all power generated from the Energy System to Customer at the point of interconnection shown on Schedule A of the Facility Lease. a. Payments Due Monthly. Customer will pay Tenant monthly, for the Term of this Agreement, for all the power generated from the Energy System during the prior month that is delivered to the interconnection point in accordance with Schedule A. Power payments are due on the last day of the month for the power generated during the prior month. Power Payments Prior to Put Date. The monthly payment due for the energy produced from the Energy System from the System beginning with Final Project Completion through and including the 20th year of the Term will be equal to the applicable $/kWh rate specified in Schedule A multiplied by the number of kWh of energy generated during the applicable month. The revenue grade meter provided by Seller will be utilized to measure said energy production and used in determining the energy produced from the Energy System and amounts due hereunder. c. Power Payments After the Put Date. The monthly payment due for the energy produced from the Energy System beginning with Final Project Completion after the 20th year of the Term will be equal to the applicable fixed annual rate provided in Schedule A divided into twelve (12) equal monthly payments. d. AccesstoData. Customer will provide Tenant with online access to its monthly utility bills and available data downloads from the utility that are permitted to be provided to Third Parties. e. Sales Tax / Payment Remittance. Power payments do not include any sales tax. Sales tax will be added to the Power Payments based on Customer's applicable sales tax rate. Customer authorizes Tenant to debit Customer's bank account to collect Power Payments when due under this Agreement until all Power Payments are received in full. Where Tenant does not collect payments via debiting Customer's account, Customer will mail payments to the Tenant to the address below. Green2 Solar Leasing, LLC 5810 Nicollet Avenue Minneapolis MN 55419 3. Utility Bill Credits. The Utility Bill Credits (the "Utility Bill Credits") as defined in the Purchase Agreement, are owned by, and for the exclusive use of the Customer. In the event the actual Utility Bill Credits received by the Customer are greater or less than the expected, there will be no adjustment to the terms of this Agreement, and each Party waives its right to recover any surplus or deficiency from the other Party. 4. Ownership of Renewable Energy Credits. Customer will, if required by the Utility Agreements, as may be amended, convey to the Utility all RECs generated by the Energy System for the term specified in the Utility Agreements. Subject to any