Solar Energy Power Purchase Agreement (PPA) - CC-RNM-2025

The Hoboken Public School District is seeking a vendor to own, develop, and operate a remote net‑metered solar photovoltaic system (≤ 5 MW DC) that will supply electricity to seven district facilities via a 15‑year Power Purchase Agreement. The vendor must locate a suitable site within the PSE&G service territory, secure all permits and interconnection approvals, and deliver a guaranteed minimum output while providing a fixed $/kWh price (example $0.0879/kWh) with limited annual escalations. The District will not own any hardware; instead it will purchase the generated electricity and reimburse the District $30,000 for solicitation costs. Key responsibilities include site acquisition, system design, construction, operation, and ongoing support, with performance guarantees and liquidated‑damage provisions for delayed commercial operation. • Deliver remote net‑metered solar electricity to seven school sites (~3.13 million kWh annually). • Provide a ≤ 5 MW DC solar PV system located anywhere within PSE&G’s New Jersey service area. • Assume all costs for permitting, land acquisition/lease, interconnection, construction, and operation for a 15‑year term, with price escalations capped at 2 % per year after the first year. • Meet COD within 36 months of contract execution and maintain ≥ 90 % of projected annual output each year, with liquidated‑damage penalties for delays.