Mt. Poso Cogeneration Company (2011)

Bakersfield, CA

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

COMMUNITY IMPACT

Mt. Poso Cogeneration Company (MPCC) owns a biomass-fired power plant located near Bakersfield, California that began operations as a coal-fired facility in 1989. The plant is located in a high-distress census tract with an unemployment rate over 15 percent.

By 2009, changes in California air quality regulations signaled an end to the plant’s coal operations. MPCC knew that closing the plant would have serious, negative impacts on the Bakersfield community and decided to keep the plant
open by converting the facility into a sustainable biomass energy production plant.

MPCC had difficulty securing conventional financing for the $43 million plant conversion due to the market risks associated with biomass fuel. DV Community Investment, LLC (DVCI) supplied one component of financing by providing $9 million in NMTC financing, which, when combined with other conventional capital sources, made the project economically feasible.

In February 2012, Mt. Poso’s power plant completed its conversion to biomass and successfully began delivering its full capacity of clean, renewable energy to the California grid. Conversion of the plant preserved 30 jobs, created 8 new jobs at the facility, 90 construction jobs, and an estimated 100 long-term jobs at local firms supplying biomass fuel and providing maintenance and other services to the plant.

All of the jobs at the plant are “green energy” jobs and offer above-average wages with medical benefits, a savings and investment plan, and advanced career and educational training. More than 80 percent of Mt. Poso’s employees are residents of low-income communities. The company has forged alliance with a community college and local job training organizations to undertake further outreach into the low-income community. The project serves as a catalyst for job growth in the surrounding area

Congressional District

Project Map

Other California Projects

2011
SJEIC provides laboratory, office, proto-type manufacturing and demonstration space for emerging clean technology companies. The 50,000 sq. ft. facility is located near downtown San…
2017
Construction of a 44,310 SF Health Center in a underserved county. The Clinicas de Salud El Centro Health Facility is a 44,310 square foot…
2005
East Los Angeles Rising Youth Club, formerly a Boys and Girls Club East Los Angeles – CHARITABLE ORG…
2005
Non-profit university primarily serving low-income, minority and women students….
2005
Financing for The San Ysidro Health Center, a leading provider of quality healthcare for low-income … California, an innovative new markets tax credit (NMTC)-based…
2013
Financing to help Queenscare Health Centers, a nonprofit federally qualified health center, build a new community health center in East Los Angeles. The new…