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Caltrain Electrification Procurement & Analysis of Carbon Emission Reduction Benefits

Statewide, California, United States

Client: Caltrain/Peninsula Corridor Joint Powers Board

Parsons Brinckerhoff Role: Strategic Consulting, Infrastructure Finance and Procurement, Low Carbon Advisory

Caltrain Electrification Procurement & Analysis of Carbon Emission Reduction Benefits
The Caltrain Electrification Program aims to convert the existing diesel engine-driven commuter rail service to electrically-powered service along the 50-mile (81-kilometer) corridor from San Francisco to San Jose. Parsons Brinckerhoff assisted the Peninsula Corridor Joint Powers Board (PCJPB) in the evaluation of procurement and financing options under public-private partnership (PPP/P3) as a mechanism for delivering the Program.

Parsons Brinckerhoff provided P3 program advisory services, including review of P3 legislative framework, procurement strategy, risk analysis, and financial modeling to assess financial feasibility and risks of the preferred P3 scenarios. Our dynamic financial model compared the project under public-sector procurement, financing, and operations with a “shadow bid” that could be expected from the private sector for a 30-year design-build-finance-operate-maintain structure.

As part of our review of funding strategies, we also evaluated the opportunity for Caltrain to benefit from emerging carbon emission reductions trading schemes and generate additional revenue by selling greenhouse gas credits. To facilitate the implementation of the Program, Parsons Brinckerhoff also assessed the PCJPB’s organizational capacity to engage in a P3 and related organizational structures and issues to be considered.
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When needs exceed funding resources, clients often turn to Parsons Brinckerhoff for help making the difficult strategy and policy decisions to close funding gaps and ensure the successful implementation of their projects. Combining time-honored capabilities in project planning, finance, economics, and operations with a sophisticated knowledge of implementation strategies, our advisors work with public agencies, companies, and communities to evaluate a full range of solutions.

Parsons Brinckerhoff blends the skills of professionals who have long histories as public-sector executives, investment bankers, attorneys, and consultants with technical experts in design and construction, operations and maintenance, asset management, and technology to add depth and insight to infrastructure development, finance and procurement. Our approach emphasizes precision, transparency, and flexibility, providing our clients with tools, strategies and solutions that encourage collaboration, fully assesses risks and opportunities and produce accurate results for sound decision-making. An overview of related service offerings include:

Finance Economics Procurement

·Financial Plans and Models

·Demand Forecasts and Revenue Models

·Pricing Analysis and Strategies

·Real Estate & Fiscal Analysis

·Government Funding Program Advisory

·Cost Benefit Analysis

·Market Demand Analysis

·Regional Impact Scenario Modeling

·Economic Impact Studies

·Construction Cost Escalation Forecasting

·Project Feasibility, Screening, and Assessment

·Business Case Development

·Contract Structuring and Implementation

·Public-Private Partnership (P3) Advisory

For a wide-range of development projects across the world – San Francisco’s Presidio Parkway P3, High Speed Rail on a global basis, Duddon Tidal Power – Parsons Brinckerhoff combines transportation planning and financial expertise to support billions in infrastructure investment.