Item 5 Passedunofficial
Authorize negotiation and execution of up to two power purchase agreements with Invenergy Renewables LLC, a subsidiary of Invenergy Renewables Holdings LLC, purchasing the energy produced by up to two utility-scale wind facilities, which have a combined total capacity to produce approximately 299 megawatts of electricity, in an estimated amount of $34,000,000 per year, for a term of 10 years, for a total estimated amount up to $340,000,000. Funding: $34,000,000 is available in the Operating Budget of Austin Energy. Funding for the remaining contract term is contingent upon available funding in future budgets.
In plain language — from the agenda backup
This would give Austin Energy the green light to negotiate and sign up to two power purchase agreements with Invenergy Renewables for the electricity from a pair of utility-scale wind farms, totaling roughly 299 megawatts of capacity. It's a long-term commitment aimed at locking in renewable wind power for the city's grid. The deal runs 10 years at an estimated $34 million per year, for a total of up to $340 million, with this year's funding already available in Austin Energy's operating budget and the rest depending on future budgets.
"Without objection, the consent agenda is adopted" — meeting transcript (unofficial)
What got said
- Cyrus Reed supported the Invenergy wind purchase as moving toward 65% renewable by 2027