Petition of Next Generation Solar Farm, LLC, 012021 VTPSBD, 8523

Docket Nº8523
Party NamePetition of Next Generation Solar Farm, LLC, for a certificate of public good, pursuant to 30 V. S.A. § 248, authorizing the construction of a 2.2 MW photovoltaic electric generation facility off Field Days Road in New Haven, Vermont
Judge PanelAnthony Z. Roisman, Margaret Cheney, J.
Case DateJanuary 20, 2021

Petition of Next Generation Solar Farm, LLC, for a certificate of public good, pursuant to 30 V. S.A. § 248, authorizing the construction of a 2.2 MW photovoltaic electric generation facility off Field Days Road in New Haven, Vermont

No. 8523

State of Vermont, Public Service Board

January 20, 2021

ORDER RE REPLACEMENT LETTER OF CREDIT

On January 27, 2017, the Vermont Public Utility Commission ("Commission")1 issued a final order and certificate of public good ("CPG") to Next Generation Solar Farm, LLC ("CPG Holder"), authorizing the construction and operation of a 2.2 MW solar electric generation facility off Field Days Road in New Haven, Vermont.

On December 24, 2020, Credit Agricole filed a revised letter of credit (attached) with the Commission. Unfortunately, this revised letter of credit deviates from the form required in condition 17 of the CPG and needs to be revised to conform to the requirements of the CPG.

Along with deviating from the form required by the CPG, the revised letter of credit filed by Credit Agricole has the following specific deficits: - It misstates the Docket number as 8532 rather than 8523.

- It uses different language advising how to draw from the letter of credit.

- It misstates the beneficiary as the Vermont Public Service Board rather than the Vermont Public Utility Commission.

- There are no references to the applicability of the ICC Publication No. 590 and the laws of the State of Vermont.

The Commission observes that the letter of credit for this case filed with the Commission on September 29, 2017, also attached, conformed to the CPG requirement and serve as an example to be followed in correcting the Credit Agricole letter of credit. We also observe that the maximum amount of the letter of credit has been increased from $95, 684.00 in 2017 to $314, 035.00 in the Credit Agricole draft letter of credit and request that the CPG Holder separately explain the basis for that three-fold increase.

The CPG Holder is directed to file a new letter of credit reflecting the requirements of the CPG by no later than February 19, 2021.

So Ordered.

Anthony Z. Roisman, Margaret Cheney, J.

Attachments:

(1) Credit Agricole Irrevocable Standby Letter of Credit No. 136732022 dated December 24, 2020

(2)Wells Fargo Amendment to Irrevocable Standby Letter of Credit No. IS000010760U dated September 1, 2017


Notes:

[1] Pursuant to Section 9 of Act 53...

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