ENERGY, CONSTRUCTION, MAINTENANCE, LICENSE, EQUIPMENTAWARDED

City of Bridgeport Power Purchase and License Agreement 2026-06-08

Bridgeport Enters Solar Power Purchase Agreement with CEFIA Solar Services

Energy Payment Rate based on Seller's Tariff Allocation (71.84% of monetary credits); Purchase Option at fair market value (FMV) at specified intervalsBridgeport School DistrictCEFIA SOLAR SERVICES INCJune 8, 2026

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Description

The City of Bridgeport and Bridgeport Board of Education approved a 20-year Power Purchase and License Agreement with CEFIA Solar Services, Inc. for a 414.1 kW DC solar facility at Luis Munoz Marin Elementary. CEFIA will design, construct, own, and operate the system, with compensation based on tariff allocations and options for the city to purchase the system after seven years.

Contract Details

Contract Amount

Energy Payment Rate based on Seller's Tariff Allocation (71.84% of monetary credits); Purchase Option at fair market value (FMV) at specified intervals

Vendor

CEFIA SOLAR SERVICES INC

Agency

Bridgeport School District, CT

Contract Type

ENERGY, CONSTRUCTION, MAINTENANCE, LICENSE, EQUIPMENT

Document Date

June 8, 2026

Contract Term

Twenty (20) years from Commercial Operation Date or expiration/termination of Tariff Documents, whichever is later; Purchase Option exercisable on 7th anniversary and every 3 years thereafter

Renewal Info

Buyer may purchase the system at FMV starting on the 7th anniversary of operation and every 3 years thereafter; Upon expiration, Buyer may extend, purchase, or require system removal. If Buyer does not elect, term auto-extends for 1 year.