Iberdrola Renewables signed a 10-year contract to supply Roseville Electric, the municipal electric utility of Roseville, California, with a package of renewable energy products. Roseville is seeking to increase the amount of energy it receives from renewable energy resources to 33 percent 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.
Iberdrola Renewables LLC has its headquarters in Portland, Ore., and has more than $10 billion of operating assets totaling more than 5,800 MW of wind and solar generation.