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BIOMASS POWER PLANT

BIOMASS POWER PLANT. Jo-Carroll Energy, Inc. (NFP). MISSION STATEMENT. “JO-CARROLL ENERGY EXISTS TO ENHANCE THE QUALITY OF LIFE FOR OUR MEMBERS”. JO-CARROLL ENERGY, INC. (NFP). Electric, natural gas and broadband distribution cooperative

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BIOMASS POWER PLANT

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  1. BIOMASS POWER PLANT Jo-Carroll Energy, Inc. (NFP)

  2. MISSION STATEMENT “JO-CARROLL ENERGY EXISTS TO ENHANCE THE QUALITY OF LIFE FOR OUR MEMBERS”

  3. JO-CARROLL ENERGY, INC. (NFP) • Electric, natural gas and broadband distribution cooperative • Prides itself on maintaining a strong, strategic connection to the future • Insure intimate relationship with its members • Willing to study any and all opportunities that might reasonably enhance the quality of life of its members

  4. JO-CARROLL ENERGY, INC. (NFP) • Founded in 1939 with 60 members • 26,000 electric and natural gas accounts • 72 employees—100 megawatt electric load • Has installed communications backbone to support SCADA (Supervisory Control and Data Acquisition System) and AMI initiatives • Organized Sand Prairie Wireless utilizing communications backbone to bring internet access to all within service territory as well as others—all members of the cooperative

  5. JO-CARROLL ENERGY, INC. (NFP) • Employs an exceptionally well-educated and appropriately experienced staff • Requires forward-looking and somewhat adventurous attitude • Very inclined to accepting and managing risk • Board of Directors that maintains a long term perspective in oversight and direction of the company

  6. BIOMASS POWER PLANT • 80 MEGAWATT plant • Evolved from the need for cost effective power for members for years to come • Huge undertaking for a small cooperative • Project has progressed as planned and is on time per original projections • Not without continued risk

  7. BIOMASS POWER PLANT • Still awaiting Illinois EPA Air Permit • Still in search of financing partner • Huge undertaking for a small cooperative • Project has progressed as planned and is on time per original projections • Not without continued risk • Will assist in keeping costs of power down

  8. BIOMASS POWER PLANT • Studies showed that the best way to mitigate potential long term rate volatility was to construct a biomass generation facility • Also considering an optional natural gas peaking unit of up to 22 megawatts for possible blackstart and peaking needs • Support of staff and Board of Directors for project led to hiring of consultants, etc.

  9. KEY REASONS FOR PLANT • Cost effective * coal fired generation is near impossible * lower capital cost than other options • Environmentally significant and friendly * Clean wood is carbon neutral fuel * Additional emissions are minimal * Strong local support for biomass generation

  10. KEY REASONS FOR PLANT • Economic Development * 250-300 construction jobs created over three year period * 36 permanent workers * managed timber, switch grass, corn stover harvests creates multiple jobs • Regulatory requirements * State and federal requirements for renewable energy generation * Greenhouse gas standards require diversity

  11. Construction and Operations • 60 acre construction site • 2 miles north of Thomson on Highway 84 • Additional option for 100 acres adjoining • Adjoins Danisco plant which will purchase steam from the facility • Upgrade of access road to 80,000 pound road as well as turn lanes on Highway 84 will lead to initial construction jobs

  12. Construction and Operations • Permits, etc. required and completed: * Threatened and Endangered Species Survey * Wetland Delineation * Archeological Study * Hydrology Study * Local Wood Study

  13. Construction and Operations • Still need to be done: * Midwest Independent Transmission Operator (MISO) Project documentation * National Pollution Discharge Elimination System (NPDES) study • Completing work on infrastructure plan and deliverability issues

  14. FINANCIAL ISSUES • Current project construction cost-- $290,150,000 • Construction to begin in 2011 • Startup target for late 2013 or early 2014 • Tax credits/grants are available to partner as Jo-Carroll Energy is a not-for-profit, tax exempt corporation

  15. REMAINING CRITICAL RISKS • Air Permit approval is by no means assured • Jo-Carroll Energy cannot finance project alone • Ongoing confusion with federal and state regulatory agencies • Serious harm done by recent USEPA “tailoring rule” publication • Lack of finality of energy policy, “cap and trade” legislation

  16. ADDITIONAL OPTIONS • Construct 40 Megawatt plant instead • Proceed with natural gas peaker generation unit alone • Other possibilities as the governmental agencies adjust approach or legislative proposals and ideas change • Other economic development projects arise as we always remain flexible

  17. QUESTIONS?

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