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RCEA authorizes development of joint prepay transaction with Desert Community Energy using CCCFA conduit
Summary
Directors approved moving forward with development and negotiation of a joint prepaid PPA financing arrangement (using the California Community Choice Financing Authority) with Desert Community Energy, authorizing staff to pursue terms with a minimum target of about 8% lifetime savings and to join CCCFA pending favorable final terms.
The Redwood Coast Energy Authority board voted Nov. 24 to authorize staff to develop and negotiate a joint prepaid PPA financing transaction with Desert Community Energy using the California Community Choice Financing Authority (CCCFA) as a conduit issuer.
Tyler Noble of Municipal Capital Markets Group explained the prepay model: existing power purchase agreements (PPAs) are assigned to an energy supplier, a conduit issuer issues tax‑exempt bonds, and the discounted proceeds are passed back to participating CCAs as a lower delivered…
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