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Committee approves TVA tranche amendment keeping Metro at 40 MW of solar at $3.08 per REC
Summary
The Transportation and Infrastructure Committee approved Resolution RS2025-1379, a third amendment to Metro's TVA Green Invest agreement, keeping previously agreed pricing of $3.08 per renewable energy credit and reducing Metro's subscription to 40 megawatts after schedule and permitting delays.
The Metropolitan Council Transportation and Infrastructure Committee approved Resolution RS2025-1379, authorizing an amendment to Metro's agreement with the Tennessee Valley Authority (TVA) for the purchase of utility-scale solar renewable energy.
The amendment is the third change to an agreement first negotiated in 2020. Kendra Akwes, senior director of sustainability and resilience in the mayor's office, told the committee the amendment does not change the pricing approved in 2023 but pushes the interconnection and operation dates for the project. "This tranche amendment, is the third amendment that we've actually made on this particular agreement," Akwes said, and she said the city reduced its subscription because market prices rose: "We decreased our subscription to 40 megawatts."
Akwes said TVA's environmental-review process required a full environmental impact statement that forced schedule delays and contributed to higher renewable energy credit pricing. She told the committee the price Metro previously agreed to remains $3.08 per renewable energy credit for the 40-megawatt subscription. "So what you would be approving today is that same agreement that was approved in 2023, same pricing, $3.08 per renewable energy credit for 40 megawatts," she said.
Committee members approved the resolution by voice vote; the committee recommended approval 9 in favor, 0 opposed and 0 not voting. The committee record shows a motion was made and seconded and no further amendment or direction was recorded.
The item had been removed from the consent agenda for discussion; committee members asked questions about the pricing history and schedule changes before voting. The committee discussion and Akwes's explanation indicated the city previously subscribed to 100 megawatts and later reduced that subscription when renewable energy credit prices roughly doubled.
No further directives to staff or additional approvals were recorded in the committee; the resolution was recommended for approval without amendment.
