TWPATraveling-Wave Parametric Amplifier
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Fitch's 'A+' rating on TID, WECA and TWPA's bonds reflects TID's ability to make timely payments on its full debt burden, which includes bonds issued by WECA and TWPA, which are unconditionally paid by TID as an operating expense.
Pursuant to the Membership Purchase Agreement, the TWPA will acquire ownership of the project from WPP by purchasing 100% of the membership interests in TWP.
TID is currently purchasing power from the project via a short-term purchase power agreement with TWP that will expire when the acquisition by TWPA is complete.
TWPA will pay $385 million for the project, or $2,770 per MW of installed capacity.