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Inv e nergy

Inv e nergy. The Power of Innovation. Discussion Outline. Introduction to Invenergy Wind generation development 101 The impact of HB 1871 – The Illinois state RPS. Invenergy Wind Overview. Operational Projects. Contracted Projects. Invenergy Offices. Invenergy Midwest Portfolio.

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Inv e nergy

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  1. Invenergy The Power of Innovation

  2. Discussion Outline • Introduction to Invenergy • Wind generation development 101 • The impact of HB 1871 – The Illinois state RPS

  3. Invenergy Wind Overview Operational Projects Contracted Projects Invenergy Offices

  4. Invenergy Midwest Portfolio Forward Location: WI Size: 200 MW COD: 2007 Interconnection: ATC Grand Ridge Location: IL Size: 350 MW COD: Mid 2008 Interconnection: PJM Nelson CC Location: IL Size: 600MW COD: Mid 2009 Interconnection: PJM Bishop Hill Locations: IL Size: 400 MW COD: Late 2008 Interconnection: PJM/MISO White Oak Location: IL Size: 150 MW COD: Late 2007 Interconnections: MISO Victory Location: IA Size: 99 MW COD: December 2006 Interconnection: MidAm Wind Project Gas-Fired Project Wind Project Gas-Fired Project

  5. Wind Wind turbines Land Interconnection agreement A market for the energy A market for the renewable energy credits Wind Development 101

  6. Wind Intensity in the U.S.

  7. Wind Turbines • How big are they? • Tower - 80 meters (about 25 stories) at the hub • Blades – 38 meters (about 100 feet) long • How are they put together • Concrete footing poured • Three tower pieces assembled in place • Three blades attached to the hub and lifted into place • How fast do they turn? • 16 RPM (one rotation every four seconds)

  8. Wind farms and agriculture are very compatible Wind farms require from 50 – 100 acres per turbine, with a typical wind farm comprising of 100 turbines When completed, each turbine only removes 0.25 acres from production Hosting a wind farm greatly benefits the community Tax base increased by ~ $2.5 MM per turbine Affected landowners receive compensation through easement and waiver agreements Land Use

  9. Interconnection Agreement • The interconnection agreement allows for the generator to interconnect to the electric transmission system • This process is one of the most time consuming steps of the development process: • In recent experience, neither PJM nor MISO has been able to adhere to these timelines

  10. Marketing the Energy and RECs • How wind energy and RECs are sold varies by market • In less actively traded markets, energy and RECs are sold under long term contracts to load serving utilities • Contracts typically 20 – 25 years long • Pricing fixed for the term • Common in CO and WI • In more actively traded markets, energy and RECs are often sold separately • Energy sold into power pool • Energy price risk managed through commodity risk managers, typically for 10 years • RECs sold to load serving entities • Common in TX and PJM

  11. Impact of HB 1871 • On May 3rd, the IL House passed a bill providing for a renewable portfolio standard (RPS) for IL • Sets a requirement that 25% of IL’s energy requirements are met by renewables by 2025, with implementation beginning in 2007 • Requires in state generation through 2011 • Protects ratepayers through caps on rate impacts • Clear ratemaking requirements will be critical to its implementation • Provides for 20 year power purchase agreements • Provides for the Commission to review and approve solicitation processes

  12. U.S. Renewable Portfolio Standards MN: 25% by 2025; (Xcel: 30% by 2020) VT: RE meets load growth by 2012 ME: 30% by 2000; 10% by 2017 goal - new RE *WA: 15% by 2020 WI: requirement varies by utility; 10% by 2015 goal MT: 15% by 2015 MA: 4% by 2009 + 1% annual increase RI: 15% by 2020 CT: 10% by 2010 IA: 105 MW CA: 20% by 2010 • NY: 24% by 2013 • CO: 20% by 2020 (IOUs) *10% by 2020 (co-ops & large munis) • NJ: 22.5% by 2021 IL: 8% by 2013 • NV: 20% by 2015 • PA: 18%¹ by 2020 *MD: 7.5% by 2019 *NM: 20% by 2020 (IOUs) 10% by 2020 (co-ops) • AZ: 15% by 2025 *DE: 10% by 2019 • DC: 11% by 2022 Solar water heating TX: 5,880 MW by 2015 HI: 20% by 2020 State RPS State Goal • Minimum solar or customer-sited requirement * Increased credit for solar or customer-sited • ¹PA: 8% Tier I / 10% Tier II (includes non-renewables); SWH is a Tier II resource

  13. Comparison on State RPSs

  14. Meeting the IL RPS through Wind

  15. Proposed IL Wind Projects Source - AWEA

  16. Summary • Wind energy can contribute significantly to serving Illinois’ energy supply needs going forward • HR 1871 sets a high, but attainable, goal for renewables in IL, and wind will play a leading role in meeting it • In order to meet that goal, developers, ISO’s, landowners, utilities, and those that oversee them will have to work together

  17. Questions?

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