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San Diego Community Power reports $1.005 billion clean‑energy prepayment sale and projected program savings
Summary
Staff reported results of the second clean‑energy prepayment transaction: $1,005,000,000 in bonds sold, an A2 credit rating from Moody’s for the funding recipient, a top green‑bond score from Kestrel, and projected annual savings that ramp from about $6.1 million up to roughly $16 million by 2030.
San Diego Community Power staff on Aug. 14 presented results from the agency’s second clean‑energy prepayment financing. Jeff Spangler, senior strategic finance manager, said the issuance funded the purchase of long‑term solar energy and is expected to deliver multi‑year savings to customers.
Spangler reported the transaction closed at just over $1,005,000,000 in bond proceeds. The bonds received an A2 rating from Moody’s for the funding recipient and a 5‑out‑of‑5 score on Kestrel’s green‑bond assessment, a designation staff said broadens investor interest in the sale. Spangler…
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