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Issuer Type: Transit
Dedicated Revenue Bonds, Series 2020A
On behalf of Washington Metropolitan Area Transit Authority (WMATA), I would like to welcome you to our investor relations website. We appreciate your interest and investment in bonds issued by WMATA, as it allows us to make critical investments in public infrastructure throughout the DC Metro area. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.
I hope you find this website useful as you seek to better understand the credit fundamentals of WMATA. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.
Dennis Anosike, Chief Financial Officer
Metro has reached a deal worth up to $50 million over 25 years with SunPower Corp. and Goldman Sachs Renewable Power LLC (GSRP). The plan is to install solar paneled carports or canopies over surface lots and above parking garages at four rail stations. The four sites will have a combined 12.8 megawatts of electrical capacity, making this the largest community solar project in the National Capital Area and one of the largest in the nation. Under the agreement, SunPower will install photovoltaic solar panels at Anacostia, Cheverly, Naylor Road, and Southern Avenue stations at no cost to Metro. GSRP will own the solar power system and provide annual payments to Metro through 2047. This will ensure a long-term revenue stream that will support our operations. This project advances the region’s sustainability goals while generating revenue to help keep Metro safe and affordable in an increasingly tight-budget environment.
Solar panels capable of powering 1,500 homes will soon be installed at four Metro-owned facilities. In a request for proposals (RFP) issued today, Metro is offering a 15-year solar ground lease to develop and operate solar photovoltaic (PV) power systems on surface and rooftop parking lots at Anacostia, Cheverly, Naylor Road and Southern Avenue stations.
“Offering these Metro-owned sites for use as solar power stations will advance Metro’s commitment to sustainability while generating new revenue to support transit services and keep fares affordable,” said Metro General Manager and Chief Executive Officer Paul J. Wiedefeld.
The solar panels will be owned, operated, installed and maintained by a solar energy provider at no cost to Metro or taxpayers.
Metro’s surface and rooftop parking garages provide optimal exposure for solar power, offering a rare opportunity in the Washington Region to generate up to 15,000,000 kWh of renewable energy annually, enough to power 1,500 single family homes for one year.
Installing new solar canopies will benefit Metro’s parking customers by providing shade and snow protection for the top level of parking garages, along with lighting improvements.
Solar panels are expected to be installed and supplying renewable energy by late 2020 or early 2021.
Metro today announced the launch of a two-year study of the Blue, Orange and Silver lines with the goal of identifying long-term options to improve reliability, meet future ridership demand, and better serve customers.
Today, the Blue, Orange and Silver (BOS) lines all share a single set of tracks between the Rosslyn tunnel and the Anacostia River, creating a bottleneck that limits the number of trains that can cross between Virginia, Maryland, and the District of Columbia. The limited capacity means that Metro cannot easily add more trains and has limited ability to work around service disruptions. With the current configuration, a disruption on one line can have a ripple effect on all three lines.
The BOS Study will identify potential infrastructure improvements and service alternatives to resolve these issues.
“Our rebuilding efforts and ongoing preventive maintenance have improved Metro’s reliability to the highest levels in eight years, but it’s time to start thinking about the Blue, Orange and Silver lines’ infrastructure constraints so that Metro is well positioned to serve future generations,” said Metro General Manager Paul J. Wiedefeld.
The first phase of the study will assess key issues and trends and document why improvements to the Blue, Orange, and Silver lines are necessary. Subsequent phases will include the development and evaluation of alternatives, as well as a thorough analysis of costs and benefits, with recommendation of a preferred alternative expected to occur by the fall of 2020.
Ultimately, the study will identify and analyze a range of potential alternatives before recommending a “locally preferred alternative” to move forward with federal environmental review, full design, and competition for federal funding. Over the next two years, Metro plans extensive outreach to engage the community, stakeholders, and transit experts to gather feedback and make recommendations.
To learn more about the project and opportunities to get involved, and to track the status of the project, visit the project website at www.wmata.com/BOSstudy.