Desert Community Energy (DCE) and Redwood Coast Energy Authority (RCEA) jointly seek proposals from qualified financial institutions to serve as Prepay Counterparty for an energy prepayment transaction. DCE is a California Joint Powers Authority formed to offer community choice aggregation in Riverside County, currently serving the City of Palm Springs with operating revenues of $70.8 million in FY2024/25. RCEA is a Joint Powers Authority serving over 60,000 customer accounts with approximately 600 GWh annual load in Humboldt County with FY2024/25 operating revenues of $77.5 million. Both agencies aim to close their first prepayment transaction by the end of the second quarter of 2026.
The selected Consultant will provide comprehensive prepayment structuring, underwriting, and execution services from March 9, 2026, through successful transaction closing. The transaction is anticipated to be between $400 million and $600 million in size. Proposers must hold valid business licenses in California, demonstrate technical expertise in prepayment transactions with public agencies, and possess experience with California-based municipalities and renewable energy finance. The selected firm will be required to execute a Non-Disclosure Agreement covering confidential DCE and RCEA operations and customer information.
Proposals must be submitted electronically to procurement@redwoodenergy.org by 4:00 p.m. Pacific Time on February 23, 2026, limited to 20 pages maximum with 12-point minimum font. Key dates include RFP release on February 9, 2026, Addendum 1 release on February 17, 2026, written question deadline of February 17, 2026, responses to questions by February 19, 2026, evaluation period beginning week of February 23, 2026, potential interviews week of March 2, 2026, and execution of engagement letter by March 9, 2026.
Proposals will be evaluated based on firm independence and licensing, absence of conflicts of interest, proposal clarity and completeness, quality and content, relevant experience and past performance, qualifications of proposed team members, fee proposal and cost-effectiveness, and quality of references. Three references from comparable services within the past three years are required. DCE and RCEA reserve the right to conduct interviews, reject any or all proposals, modify the selection process, and accept partial proposals. The selection panel will recommend the most qualified proposer to the boards of directors for final approval.