California Authority to Sell $1 Billion of Green Bonds to Fund 30-Year Supply of Energy

Published: 2025-07-09 15:13:10 ET MS

Published on 07/09/2025 at 15:13

By Paulo Trevisani

The California Community Choice Financing Authority plans to sell $1 billion of green bonds to fund a 30-year supply of clean energy.

The Clean Energy Project Revenue Bonds will finance the Clean Energy Project, which includes a supply of EPS-compliant energy from renewable and carbon-free sources for San Diego Community Power, according to a preliminary official statement posted on MuniOS.

Proceeds of the bonds will be used to prepay the energy supply under an agreement between CCCFA and Energy Prepay III, a limited liability company whose sole member is Morgan Stanley Capital Group.

Delivery of the securities is preliminarily expected to occur the week of July 14. The series 2025D Green Bonds will mature between 2030 and 2034. A term bond will mature in 2055.

The bonds are payable from revenue earned by the Clean Energy Project. As of April, the SDCP served 956,724 active accounts with approximately 7.7 million megawatts-hour in annual retail sales.

The bonds are rated A2 by Moody's.

Morgan Stanley is the underwriter.

Write to Paulo Trevisani at [email protected]

(END) Dow Jones Newswires

07-09-25 1512ET