How will MCE procure power to meet Marins electricity demand?
MCE will commence operations under a turnkey contract with an experienced, financially stable energy supplier for a five to seven year period. This approach minimizes risks by placing the operational responsibility and obligation to deliver energy at stable prices on a third party supplier. The power purchase agreement currently being negotiated specifies power content requirements and includes provisions for integrating renewable resources procured independently by the MCE. The bidders to supply this energy responded to an RFP issued by the MEA and were vetted by a range of technical, legal and finance experts. MCE will also identify experienced public and private power developers that are capable of facilitating longer-term renewable power development goals. MCE will be able to take advantage of the lower cost of public financing by investing in renewable power generation with public and private development partners. Tax-exempt financing, lack of shareholder profits and taxes provide
