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BET signals support for 20‑year PPA with GreenSkies for Cohen Center solar, 11–1 vote after extended debate
Summary
After extended committee review and debate over indemnification, maintenance and buyout terms, the BET voted 11–1 to support use of a 20‑year power purchase agreement with GreenSkies to supply the Cohen Center with solar power at a proposed rate of 6.7¢/kWh.
The Board of Estimate and Taxation voted 11–1 to express support for a 20‑year power purchase agreement (PPA) with GreenSkies to install solar panels on the Cohen Eastern Greenwich Civic Center and sell the town electricity at a rate reported in the meeting as 6.7¢ per kilowatt‑hour.
Supporters said the PPA offers a materially lower price than current market options and that the contract includes embedded operations and maintenance provisions. Matt DeChamps, who circulated a financial summary for the board, warned that the “largest risk as I see it is the movement, to the negative for the town” — meaning the town could miss the favorable price if execution is delayed. DeChamps also noted the expected energy figures: “the Cohen energy load is estimated of 375,000 kilowatt‑hours per year, and the solar system will generate 278,000 kilowatt‑hours per year, which is 75% of the load,” figures he presented to illustrate the projected contribution of the array.
Why it mattered: BET members and consultants reviewed the deal over multiple sessions. Proponents argued the PPA locks in a low electric price and shifts equipment ownership, tax credits and some performance risk to the developer. Opponents and some committee members asked for more legal and financial detail before the BET took an explicit stance: concerns included a long indemnification term, the cost and structure of 20 years of insurance in lieu of a conventional indemnity, the mechanics and potential cost of early termination or buyout clauses, and the need to ensure strong maintenance and monitoring arrangements.
Law, insurance and procurement questions
Members urged the law department to review indemnity language and to explain the insurance approach that the town would accept in place of other indemnity structures. Ms. Tarkington repeatedly requested greater detail on insurance costs, long‑term termination values and whether the maintenance contract met the town’s expectations. Several board members said the law committee and BET law staff had already reviewed the documents; others asked for additional follow‑up on the entities that would own or back the PPA over time.
Vote and next steps
Ms. Moriarty moved that the BET support the use of a PPA for solar panels at the Cohen Center; Mr. Olczyk seconded the motion. The BET approved the motion, 11–1. The matter is also on the Representative Town Meeting (RTM) call because the RTM must consider the indemnification/insurance approach. BET members said they expect the law department to continue follow‑up on indemnity, termination mechanics and the maintenance arrangement and to report back as needed.
What the vote does and does not do
The BET vote indicated board support for using a PPA in this project and for the current negotiated commercial terms, but it did not itself execute the contract or finalize the town’s legal indemnity position. BET members said the town administrator and law department will proceed with contract execution steps and with the RTM review of indemnification language.
