Olivia City Council Agenda 2026-06-15
Olivia Approves 15-Year Renewable Energy Credit Sale
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Description
The City of Olivia approved a Renewable Energy Credits Sales Agreement with the Minnesota Municipal Power Agency to sell all RECs allocated to the city for $3.00 per REC from 2025 through 2040. The contract includes options for extension and aligns with Minnesota clean energy requirements.
Contract Details
Contract Amount
$3.00 per REC delivered
Vendor
MINNESOTA MUNICIPAL POWER AGENCY
Agency
City of Olivia, MN
Contract Type
OTHER
Document Date
June 15, 2026
Contract Term
January 1, 2025 – December 31, 2040 (option for two additional 5-year extensions)
Renewal Date
2040-12-31
Renewal Info
Seller (City of Olivia) may request two 5-year extensions with 12 months' written notice prior to contract end. Each extension requires MMPA's written approval and agreement on purchase price and terms.
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