Municipal Prepay Financing Includes Partnership with San Diego‑Based Realty Income to Support Long‑Term Clean Energy and Customer Affordability
聖地牙哥 – San Diego Community Power has completed its third clean energy prepayment bond transaction, continuing a strategy focused on long‑term energy planning and affordability for customers across the San Diego region.
“At a time when families and businesses are paying close attention to every bill, Community Power is focused on using every responsible tool available to manage costs and protect affordability,” said Terra Lawson‑Remer, chair of the San Diego Community Power Board and chair of the San Diego County Board of Supervisors.
The transaction uses a well‑established municipal prepay structure that allows public agencies to prepay for future electricity deliveries using tax‑exempt financing. This approach supports long‑term clean energy procurement while maintaining fiscal responsibility. As part of the transaction, an affiliate of Goldman Sachs provided financing, a portion of which was lent to Realty Income through a long‑term, fixed‑rate loan.
“We are pleased to partner with San Diego Community Power for our debut transaction to support its prepayment of commodity costs,” said Jonathan Pong, Chief Financial Officer and Treasurer of Realty Income. “This transaction allows us to support our local community by providing dependable monthly income to San Diego Community Power to achieve a fixed discount for a portion of its future energy needs. Moreover, this unique source of capital represents further diversification of our sources of long-term capital, providing us with a cost of fixed-rate debt priced below that of similar tenor public unsecured debt.”
The transaction builds on Community Power’s broader use of prepayment structures to manage costs. In 2025, Community Power completed a green‑bond prepayment expected to generate about $54.1 million in customer savings over nine years, or roughly $6.1 million per year. In late 2024, Community Power also completed a $1 billion, 30‑year Clean Energy Project Revenue bond using the same prepay framework to support long‑term clean energy procurement.
“Transactions like this demonstrate how community choice aggregators like San Diego Community Power can use sophisticated, responsible financial tools to advance our climate goals without sacrificing affordability,” said Karin Burns, CEO of San Diego Community Power. “It supports our long‑term clean and renewable energy strategy while keeping fiscal responsibility front and center for the communities we serve.”
The transaction follows Community Power’s recent achievement of an investment‑grade “A” credit rating, reflecting strong financial management and a stable outlook. The rating strengthens Community Power’s ability to access lower‑cost financing over time and reinforces its commitment to long‑term affordability and responsible fiscal stewardship on behalf of customers.
關於 Community Power
Community Power is a not‑for‑profit community choice energy provider serving cities and unincorporated areas across San Diego County. Community Power purchases electricity on behalf of its customers, prioritizing affordability, clean energy, and local community investment.
About Reality Income
Realty Income (NYSE: O), an S&P 500 company, is real estate partner to the world’s leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of December 31, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as “The Monthly Dividend Company®” and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 669 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years.
