09/22/2015 Resolutions 2015-257 RESOLUTION 2015-257
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 the City of
Neligh for minority position in the Project; and
WHEREAS,the 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 5.58%of the
output of this project from Grand Island to Neligh; and
WHEREAS,the sale price to Neligh for the Renewable Energy Credits is that being
paid by the City of Grand Island to Invenergy over the twenty year teem 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
Neligh,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.
;'emy;' Jen' -p, ayor
Attest:
a , , Ku), II,...
RaNae Edwards, City Clerk
Approved as to Form R !
September 21,2015 a City ATney