09/22/2015 Resolutions 2015-256 RESOLUTION 2015-256
WHEREAS, on June 9, 2015 Council approved execution of a Power Purchase
Agreement(PPA) with Invenergy Inc., for the Prairie Breeze III Wind Energy Project; and
WHEREAS,this PPA with Invenergy is for the entire capacity of the Project with the
intent for subsequent participation agreements between the City of Grand Island and Nebraska City
Utilities for minority position in the Project; and
WHEREAS, energy generated from renewable sources such as wind are eligible to
receive Renewable Energy Credits which document the energy created and then can be sold or traded
to other parties and used for environmental compliance; and
WHEREAS,the Utilities Department's legal counsel for the Prairie Breeze III Project
drafted a Renewable Energy Credit Purchase Agreement for the sale of approximately 19.55%of the
output of this project from Grand Island to Nebraska City; and
WHEREAS,the sale price to Nebraska City for the Renewable Energy Credits is that
being paid by the City of Grand Island to Invenergy over the twenty year term of the PPA,plus the
pro-rata share of any costs that may be incurred by the City as a result of marketing the energy to the
electric regional system.
NOW, THEREFORE,BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND,NEBRASKA,that the Renewable Energy Credit Agreement with
Nebraska City,Nebraska,is approved,and the Mayor is hereby authorized to sign the Agreement on
behalf of the City of Grand Island.
Adopted by the City Council of the City of Grand Island,Nebraska, September 22, 2015.
t erry . Je C , yor
Attest:
pof---1
• , ,,,, p.
RaNae Edwards, City Clerk
r
Approved as to Form a iggI r
September 21,2015 a ity Attorney