Increased rating recognizes agency’s financial strength and clean power portfolio
Sunnyvale, CA — Moody’s Ratings (Moody’s) has upgraded Silicon Valley Clean Energy (SVCE) to an A3 investment-grade credit rating. The upgrade reflects the agency’s improved financial liquidity profile, strong and resilient service territory, and the strength of the California Community Choice Aggregation model.
“This upgraded rating is an important indicator that the SVCE financials are strong and stable,” said George Tyson, SVCE Board Chair and Town of Los Altos Hills Councilmember. “We remain committed to reinvesting in our communities and providing our customers with clean power at competitive rates. This rating helps us to continue doing this work successfully for the benefit of the people and businesses we serve.”
Moody’s provides an independent assessment of SVCE’s financial strength over the long term and acknowledges its economic stability and diverse renewable energy portfolio. The rating upgrade highlights SVCE’s long-term contracts for clean power projects and community support of the agency’s clean energy value proposition.
SVCE also has an ‘A’ issuer credit rating from S&P Global Ratings.
Moody’s full press release can be found here.
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About Silicon Valley Clean Energy
Silicon Valley Clean Energy is a not-for-profit, community-owned agency providing electricity from renewable and clean sources to more than 275,000 residential and commercial customers in 13 Santa Clara County jurisdictions. As a public agency, net revenues are returned to the community to keep rates competitive and promote clean energy programs. Silicon Valley Clean Energy is advancing innovative solutions to fight climate change by decarbonizing the grid, transportation, and buildings. Learn more at SVCleanEnergy.org.
Media Contact
Pamela Leonard, Deputy Director of Marketing & Communications | (408) 549-2671 |
Pamela.leonard@svcleanenergy.org
