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IID to move forward with PPA negotiations

(IID Board agrees to move forward with negotiations)…The Board agreed staff should pursue the PPA with Cal Energy.

The Power Purchase Agreement would allow the Imperial Irrigation District to purchase 50 megawatts from Cal Energies Salton Sea geothermal portfolio at $87.00 per megawatt hour, with no escalation, for ten years. The annual cost to the District would be $29.8 million, or approximately $230.6 million over the ten-year term of the proposed agreement. The IID Board voted unanimously Tuesday to move forward with the negotiations.