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SVCE touts Moody’s credit upgrade and announces new headquarters purchase and RFP for project manager
Summary
SVCE’s CEO reported a Moody’s credit rating upgrade to A3, said the agency closed on a new headquarters purchase and issued an RFP for a project manager, and introduced a new IT support specialist hired this month.
In her CEO report to the Silicon Valley Clean Energy board, the agency’s chief executive highlighted an upgrade of SVCE’s credit rating and the recent purchase of a headquarters building, and introduced a newly hired information‑technology support specialist.
The CEO said Moody’s upgraded SVCE’s issuer rating from Baa1 to A3, a move staff described as improving SVCE’s ability to negotiate power‑purchase and other financing transactions. "This recognition is very well deserved," the CEO said in remarks introducing the news.
The agency also closed on a new headquarters building and has issued a request for proposals to hire a project manager to oversee the design and build of the space, staff said. The board was told staff will bring proposals for community input and board review as the design process advances.
SVCE introduced Philip Wing, an information‑technology support specialist who joined SVCE after six years at Prometheus Real Estate Group. Wing said he has more than nine years of IT experience and will support staff operations; the CEO said staff also briefly served as the safety officer during a lights outage at the meeting and praised Wing’s response.
The CEO also noted recognition of Director Yvonne Martinez Beltran as a district “Woman of the Year” and announced brief staff presentations on state and federal legislative activity scheduled later in the meeting.
No board action was required on the announcements; the updates were presented for information.
