APU also owns 118 MW of the Magnolia Power Project, a combined cycle natural gas plant owned and operated by SCPPA
Under the terms of the PPA, energy from the Ormesa complex will be sold to SCPPA
at a rate of USD77.
Prior to his tenure with the SCPPA
, Waters worked at the power authority's largest member, the Los Angeles Department of Water and Power, for 32 years - the last four of which he was the general manager and chief engineer, the highest ranking position in the $2.
was formed in 1980 to finance the acquisition of generation and transmission resources for its members, including the acquisition of renewable energy projects on behalf of its members.
STRONG PARTICIPANT CREDIT QUALITY: The rating reflects the credit profiles of the largest participants in the SCPPA
STS project and their respective participation shares in the project.
STRONG MARKET VALUE: Both the Mead-Adelanto and Mead-Phoenix projects provide SCPPA
members with 500-kilovolt (kv) transmission capacity to import power from other SCPPA
projects, primarily the Palo Verde Nuclear Generating Station and the San Juan Unit No.
Canyon project bonds are secured by a power supply agreement with APU, the sole purchaser of the project output.
For additional information, see Fitch's press release, 'Fitch assigns 'AA-' Bank Bond Rating to SCPPA
Power Project Revs (Palo Verde Proj), dated June 13, 2012.
The 2008 subordinate series A and series B bonds are special limited obligations of SCPPA
and payable solely from revenues received from the members participating in the Palo Verde project and the funds established under the master and supplemental trusts.
Kelly Nguyen, SCPPA
Director, Energy Systems said, Renewable energy continues to be a focus for SCPPA
members, and with partners like sPower, we are able to offer our members clean, reliable and affordable power.
APU is a member of SCPPA
and participates in various joint projects with SCPPA
and other members.
Salt Lake City-based sPower now has four projects with long-term PPAs with SCPPA