Piedmont Public Power Agency
Piedmont Mini-Bonds, Series 2027B
Municipal mini-bonds against an operating station in its thirty-ninth year. No ceiling, no investor cap.
The plant has operated since 1988 and the agency is refinancing its participation share while extending the license. Payment comes from nine member cities under cost-of-service take-or-pay contracts, not from the plant's market performance. Twenty year term at 4.25%, in $500 denominations, freely tradable, and exempt from Securities Act registration entirely.
$24,800,000 committed of $40,000,000
$24,800,000 released · 62% subscribed
- Minimum
- $500
- Target coupon
- 4.25%
- Term
- 20 yr
- Investors
- 7,244
$500 per unit
Annual, fixed
Closes April 30, 2027 · 229 days remaining
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TRL assessment
9
Technology readiness level, 1 to 9
Confidence band 8.7 – 9.0
In commercial operation since 1988 with a renewed license and thirty-eight years of metered output. TRL is not a meaningful question for this asset. What matters to a bondholder is that payment comes from nine member cities under take-or-pay contracts rather than from the plant's market performance, and that a plant in its fourth decade carries component aging risk the TRL scale does not capture.
At TRL 9, the ladder permits Revenue share or Fixed-rate note or Municipal mini-bond and releases up to 100% of committed capital. This offering is structured as a municipal mini-bond, which is consistent with that band.
Signed and published
- Reviewer
- Dr. Helena Vargas-Mbeki
- Credential
- PE, Nuclear; former NRC senior reactor analyst
- Signed
- June 1, 2026
- Published
- June 2, 2026
- Methodology
- v1.4
- Model
- ci-trl-2026.06
- Generated
- May 27, 2026
Evidence
Every score cites the documents it was derived from, with the weight each carried. An assessment without evidence is an opinion.
| Source | Document | Date | Weight |
|---|---|---|---|
| Metered output | Thirty-eight year operating and generation record Agency operating records; regional settlement data Trailing ten-year capacity factor above 90%. | Apr 30, 2026 | 42% |
| Operating license | Renewed operating license NRC license renewal, extended term Renewed with an approved aging management program. | Jul 18, 2024 | 30% |
| Supplier contract | Member take-or-pay participation agreements Nine municipal utilities, cost-of-service basis Obligations survive outage and are not contingent on delivered energy. | Jun 11, 2025 | 28% |
Score history
A score changes on the day a reviewer signs a new assessment, which is why this is a step line rather than a curve.