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Iberdrola Renewables Announces Renewable Energy Sale to Roseville Electric

published: 2014-09-16 15:25

Iberdrola Renewables agreed to supply Roseville Electric, the municipal electric utility of Roseville, California, under a 10-year contract with a package of renewable energy products. Roseville is seeking to increase the amount of energy it receives from renewable resources to 33% by 2020.

The deal will deliver firm quantities of renewable energy over time to help Roseville fulfill California’s renewable portfolio standard (RPS) obligation through 2024. Roseville is procuring all three qualifying renewable energy products in a single contract with Iberdrola Renewables to gain cost efficiencies and ease of compliance with the RPS law. The contract gives Roseville the flexibility to adjust the volumes as needed to economically manage its renewable energy supply. Iberdrola Renewables will manage all delivery requirements and source the energy and renewable energy credits from its renewable asset portfolio, which includes facilities certified by the California Energy Commission to meet the state’s RPS.

The City of Roseville’s City Council authorized the execution of the transaction at its meeting on September 3.

“With affordable wind energy assets in our portfolio, plus experience managing the California delivery requirements, we can reliably deliver clean power to our customers,” said Barrett Stambler, vice president of Iberdrola Renewables. “This deal strongly supports Roseville’s renewable energy goals, and takes advantage of our sophisticated scheduling and energy delivery capabilities.”

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