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INFRASTRUCTURE AND RENEWABLES: TRENDS AND OPPORTUNITIES IN FLORIDA

INFRASTRUCTURE AND RENEWABLES: TRENDS AND OPPORTUNITIES IN FLORIDA. Gary Schumann. State of Florida. 18.5 million population 3 rd largest US state 80 million visitors/year 19 th largest economy in world Trade, aviation, defense, life sciences, IT, financial services.

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INFRASTRUCTURE AND RENEWABLES: TRENDS AND OPPORTUNITIES IN FLORIDA

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  1. INFRASTRUCTURE AND RENEWABLES: TRENDS AND OPPORTUNITIES IN FLORIDA Gary Schumann

  2. State of Florida • 18.5 million population • 3rd largest US state • 80 million visitors/year • 19th largest economy in world • Trade, aviation, defense, life sciences, IT, financial services

  3. Non-US Firms are Welcomed and Successful in Florida • Over 2500 non-US firms • 350 Spanish companies in Florida = more than anywhere in US • Do business across US and Latin America from Florida • AREAS (Florida Turnpike) Bancaja • ACS Dragados (I-595) Bellota Herramientas • OHL and Caja Madrid (US 1 widening) FCC • Global Via Dragados • Iberdrola Eptisa • SistemasIndra Grupo Guascor • Grupo Abengoa Unión Fenosa • Telefónica Terra Networks

  4. Infrastructure: Examples of Successful Non-US Firms • Acciona • Tampa - desalinization plant • ACS-Dragados • Ft. Lauderdale – Highway I-595 expansion • Miami – airport expansion • CEMUSA • Miami – outdoor advertising • FCC • Miami - Highway I-95 managed lanes • Miami – Highway I-95 – widen lanes $122 m • Odebrecht • Miami - airport terminal • Miami - Metro Mover at airport with OHL • Miami - Performing Arts • Miami - Florida International University • OHL / Caja Madrid • Miami – highway Interchange, $560 m • Miami – Light-rail train extension to airport - $360 m • Miami – People mover at airport, with Odebrecht • Florida Keys - Widening of Highway US1 • Veolia • Ft. Lauderdale – TriRail operations • Tampa – Water sanitation • Vinci • Tampa – airport terminal

  5. Infrastructures Market and Upgrade Needs in Florida • 150,000 miles of highways and roads; 5700 bridges • Need new highways, widening, tolling; repair, replace • 20 commercial airports • Need expansions • 14 deepwater ports • Need to deepen and expand (Panama Canal, super cargo ships) • 2800 miles rail, 25 major rail terminals • High-speed rail, new commuter rail, other rail upgrades • Kennedy Space Center • Need new space launch control complex • 21 electric utility companies • Electrical upgrades, new nuclear facility, ‘going green’

  6. Legislative Environment • Balanced budget requirement – Constitution • Tax receipts down: public funding down • $7 billion in cuts during past 2 years • $2 billion deficit next year • Impact on infrastructure, energy projects • Florida is progressive, a model for PPPs in US • PPP projects - approval by committee, not legislature • Creative financial solutions (escrow) • Now is an excellent opportunity for Spanish companies, PPPs

  7. Legislative Environment Successful PPP examples and IN TIME OF ECONOMIC CRISIS: • Construction of Tunnel to Port – Miami (www.portofmiamitunnel.com) • $1.5 billion project • With Bouygues Travaux Publics • Asesores de Infraestructuras – Financial advisors • Federal, State, Local, Private Sector (12-15 banks) • 595 Express Corridor Improvement Project – Fort Lauderdale (www.i-595.com) • Reconstruct, widen and resurface • 10.5 miles, plus and all associated improvements to adjacent cross-roads, frontage roads and ramps • WithACS Infrastructure Development • ,Banco Santander financing part • $1.8 billion project • 35-year concession • the largest infrastructure project ever undertaken by the FDOT

  8. Procurement Process • 1. Federal Government: • Sends ARRA, DOE grants to states • 2. Florida State Government: Governor, legislature • Decide budget • PPP laws (legislative committee vs. full legislature approval) • Sends Federal and state funds to counties • Florida State Agencies: • Florida Department of Transportation (7 districts) • Ports, Airports, Turnpikes, Roads, Rails • Florida Department of Energy • Local Governments • Miami-Dade County • Miami-Dade Expressway Authority, Tri-Rail, Ports, Airports • Office of Procurement Management

  9. Procurement Process • Typical procurement process: • Register with state AND county for certification and prequalification • - www.myfloridamarketplace.com • Request for Qualifications • Statement of Qualifications • Request for Proposals • Evaluation of Proposals • Commercial Close • Financial Close • Intent to Proceed

  10. Procurement Process MODEL 1: SOLICITED BID – CONCESSIONPORT OF MIAMI TUNNEL (BOUYGUES) • Feb. 17, 2006: FDOT publishes a Request for Qualifications (RFQ) from proposers seeking to develop, design, construct, finance, operate and maintain the Port of Miami Tunnel Project through a Concession Agreement as a public/private partnership (PPP) • April 12, 2006: FDOT receives Statement of Qualifications (SOQ) from potential proposers • April 28, 2006: FDOT announces short-list of qualified proposers. • Nov. 1, 2006: FDOT publishes a Request for Proposals (RFP) for short-listed proposers • March 5, 2007: FDOT receives proposals from short-listed proposers • May 2, 2007: FDOT announces intent to select “Best Value Proposer” Miami Tunnel team • June 2, 2009: FDOT reaches Commercial Close • Oct. 15, 2009: FDOT reaches Financial Close/ Notice to Proceed • Spring, 2010: Construction begins • Spring, 2014: Port of Miami Tunnel is completed www.portofmiamitunnel.com

  11. Procurement Process MODEL 2: UNSOLICITED BID – ESCROW MODELUS 1 (OHL/CAJA MADRID) • OHL’s US subsidiary approaches Miami-Dade County with idea. • Company already doing some work, suggest rest • Miami-Dade County had NO PLANS to do this work. • Same normal RFQ, RFP process. 120 days to respond. • Unique: First non-solicited bid to be approved in Florida • More unique: Creative financing - escrow model – 4 parties • State came up with model: • 1. State pays at project completion, • 2. Contractor requires payment per stage completed • 3. Bank finances contractor • 4. Surety bonds protect against non-payment • Took 1 ½ years to work out • Florida Department of Transportation agreed to escrow. New model. • More projects expected to follow this model

  12. REGULATION • Federal, State, Local • Register with Federal, State Authorities • Environmental Impacts • Mapping and Surveying • Safety • Construction • Drainage • Hazardous Materials • Community Affairs • Contracting • Financing

  13. Current Opportunities in Infrastructures • High-Speed Rail Project, www.floridahighspeedrail.org • Tampa – Orlando (84 miles) (Phase 1) • $1.25 billion in ‘stimulus funds’ (part of $8 billion for high-speed trains), • $1.3 billion more to come. • 2011 construction begins, 2015 operational • RFP coming out in April • Orlando – Tampa (235 miles) (Phase 2) • Federal (ARRA Funds)

  14. FLORIDA HIGH-SPEED RAIL NETWORK (PROPOSED) Source: www.floridahighspeedrail.org

  15. Current Opportunities in Infrastructures OTHER RAIL OPPORTUNITIES: • SunRail (Orlando): to develop and operate a commuter rail transit project along 61-miles of existing rail freight tracks in Orlando. • www.sunrail.com • Tri-Rail: operates 50 trains daily in South Florida • www.sfrta.fl.gov and www.tri-rail.com • Sfrta – seeking 18 locomotive • Miami-Dade East-West Corridor • City of Miami Streetcar • Fort Lauderdale Streetcar • Tampa Streetcar extension • Tampa Bay Regional Transportation Authority • Jacksonville Commuter Rail Picture: Commuter Rail

  16. Current Opportunities in Infrastructures • HIGHWAYS: • Jacksonville: First Coast Outer Beltway • Four-lane toll road, 46.5-miles, to link I-95 with I-10 • 13 new interchanges and a bridge across the St. Johns River • Miami: 395-836 Interchange • Expansion of Lanes • Miami Expressway Authority, www.mdx-way.com • Concessionaire to do all except maintain

  17. Current Opportunities in Infrastructures • AIRPORTS: ARRA FUNDS • Tampa International Airport • To construct an elevated taxiway connecting terminals • Melbourne International Airport • to replace or upgrade runway, taxiways, taxi lanes, and aprons • Tallahassee Regional Airport • to upgrade security system; conduct analysis of runways, taxiways and other pavements; planning future repairs and enhancements. • Charlotte County Airport • to improve main ramp • Sarasota Bradenton International Airport • To upgrade pavement on its crosswind runway • St. Petersburg-Clearwater International Airport • To upgrade terminal and apron

  18. Current Opportunities in Infrastructures • Hundreds of future and present Florida Department of Transportation infrastructure projects • www.dot.state.fl.us • www.floridasturnpike.com • 5-year plan for projects and allocations • See handouts • “…Florida is facing a $31 billion shortfall in funding identified transportation improvements through 2010, and a $47 billion shortfall through 2020..” • Opportunities for Spanish firms

  19. Roadmap – How to Learn about Projects? • No single registry - complex • 1. Online services • Onvia - Government bids & RFPs for federal, local & state government agencies, www.onvia.com • Dodge Reports - polls all municipalities each week, www.dodge.construction.com • 2. State agency websites (Transportation, Energy, Water, Environment) • List of projects • Can sign up for updates • State of Florida: www.myflorida.com • www.MyFloridaMarketPlace.com • Florida procurement and vendor bid system • 3. County and Municipal websites • Miami-Dade County Government = www.miamidade.gov/oci • Miami-Dade Expressway Authority = www.mdx-way.com • List of future projects and 25-year plan, http://www.mdx-way.com/improvements/future_projects)

  20. Roadmap – How to Learn about Projects? • 4. Build Relationships • Agencies: • Meet with district secretaries, • Ask what is happening, coming up, where at with funding, what policies are driving • Local companies / potential partners (construction, engineering, financial) • often hear of leads first  • 5. Belong to organizations, attend network events, conferences • Infa-Americas summits (www.infra-americas.com), P3 Americas Summits • Team Florida Transportation (www.teamflorida.org), • State of Florida’s Expressway Authorities System and Florida Turnpike Districts • International Bridge, Tunnel & Transportation Authority (www.ibtta.org)

  21. Roadmap - How to Learn About Projects? • 6. Have a local presence and / or partner with local companies • Decision-makers want demonstrated experience and ability in Florida, US • Local reps understand local nuances • May be best course to enter market • 7. Hire a lobbyist or consultant • knows government, what’s going on, make contacts, call on secretaries • Very important, may be best way to get something done. • Consider a legislative affairs person • 8. Be pre-positioned • Once RFPs are issued, competitors may have passed you and it may be too late for some projects to be primary.

  22. Water Treatment: • Federal, State, District, Local Agencies • Federal (USEPA) • Set laws, regulations, quality control • Require states to upgrade •  Florida Department of Environmental Protection (www.dep.state.fl.us/water) • 5 water management districts, http://www.dep.state.fl.us/secretary/watman/#nw • Some put out bids • Regulates all utilities in district and tracks their compliance • Projects locally driven (county, municipality), fragmented • Each municipality has its own utility • 70 in South Florida alone! • 31 in Broward County • 29 in Palm Beach County • 10 in Miami-Dade County • Competitive bid by law, listed online

  23. Water Treatment • Trend: purchasing smaller firms and becoming mega entities. • Many bids coming up • Driven by USEPA and FDEP requirements to improve processes • Upgrade pipes • Recharge underground aquifer • Opportunity: • Miami: massive expansion project because of changes in regulations • To recharge groundwater aquifers, polish waste water, tertiary treatment • Also, reverse osmosis of moats around Metro Zoo • Billions of dollars • www.Miamidade.gov to put out RFP, water and sewer department

  24. Roadmap – How to Learn about Water Projects • Individual county and city websites • Purchasing link • Industry journals and reports • Engineering News Record (weekly) (www.enr.com) - bible of the construction industry, providing news and features about projects • Dodge Reports – polls all municipalities each week (online) (www.dodge.contruction.com) • Water World / American Waterworks Association (www.awwa.org) • Water Environment Foundation (www.wef.org) • Association trade shows: • Drinking Water: American Section of American Waterworks Association (Orlando) • Waste Water: Florida Water Environment Association (Orlando), www.fwea.org • Sales reps • Manufacturers sell via sales reps, not directly. Unique to Florida

  25. RENEWABLE ENERGIES

  26. Florida’s Renewable Energy Cluster Receive 85% of the maximum solar resource available in the U.S. Long tradition of research w/ NASA & Dept. of Energy 1,200 miles of coastline and proximity to the Gulf Stream – the most energy dense ocean current One of the nation’s largest producers of biomass

  27. What are Florida companies doing? • Two of the world’s leading power-generation equipment manufacturers: • Mitsubishi Power Systems • Siemens Energy • Fuel cell manufacturer EnerFuel • Solar producer Sunovia Energy Technologies • Advanced Solar Photonics – manufactures monocrystaline solar panels • Florida Crystals & U of Florida – nation’s largest biomass energy facility (ethanol) • Verenium - leading cellulosic ethanol producer

  28. What are Florida utilities doing? • Florida Power & Light: • built the nation’s largest utility-scale PV solar plant (25 MW in Desoto) • Progress Energy: • partnering with Florida universities to expand renewable energy systems; e.g. biomass, hydrogen, solar and wind • to install smart grid devices in 5,000 homes • Gulf Power: • promoting solar water heating, geothermal heating, and cooling and energy efficiency • Keys Energy Services: • Installed a 27 kWh rooftop PV system • to be inaugurated March 2010

  29. What are Florida universities doing? • Florida Energy Systems Consortium • $50 million for 11 state universities to collaborate on clean energy technologies and R&D • Florida Atlantic University - ocean technology • University of South Florida - biomass, thin films and hydrogen • University of Florida - ethanol and cellulosic ethanol - Dr. Lonnie Ingram (Florida Crystals) • University of Central Florida - Florida Solar Energy Center -- State’s main R&D center for solar energy -- SE USA largest rooftop solar PV system – Orlando Convention Center • Florida State University - efficient energy transmission (smart grid)

  30. Florida’s Electric Model 54 UTILITIES • Investor Owned Utilities (IOU’s) • 4: Florida, Power & Light, Tampa Electric Company (TECO), Progress Energy and Gulf Power • Private, for profit • Serves 65% of Florida customers • Municipal Utilities • 34 -e.g. Jacksonville Electric Authority (JEA), Gainesville Regional Utility (GRU), Orlando Utility Commission (OUC) • Public, not-for-profit • Serves 25% of Florida customers • Cooperatives • 16 –e.g. Florida Keys Electric Coop. Assn., Lee County Electric Cooperative, Chelco • private, not-for-profit • Serves 10% of Florida customers

  31. Florida’s Electric Model • Different Model Than Spain • Each utility owns and operates their transmission lines • Individuals can’t sell via solar farms • No statewide feed-in-tariff subsidy • Cost: $0.30 kWh solar vs. $0.07 kWh coal/gas • Bad business proposition • Exception: Gainesville Regional Utility • municipal • first feed-in-tariff in the US • instant success (7 years worth of applications in first four months) • capacity of 4MW annually • 20 year contract ($0.32 rooftop)

  32. Procurement Process - Utilities • RFP, SOQ, and RFQ • - IOUs, Municipals and Cooperatives • Example: FPL’s 25 MW Desoto Plant • Largest solar plant in the US • Project announced at the Governor’s Climate Summit • June 2008 • - RFP posted on company • website • SunPower Awarded Contract • April 2009 • Facility inaugurated October 2009 • President Obama was present

  33. Regulation for Renewables • Federal • US Department of Energy • No national energy policy • State of Florida • Florida Public Service Commission • Regulates utility rates • Recommends state energy policy to the legislature • No statewide Renewable Portfolio Standard today • Currently being debated in Florida legislature • 10% ethanol blending of gasoline 2010 • All new government buildings must meet green standards • Counties, municipalities, cities • Don’t normally regulate • e.g. Miami-Dade, all gov’t buildings need to be LEED certified • e.g. Broward public transportation, ethanol based

  34. Support for Renewables • State of Florida • Florida Energy & Climate Commission • State’s official organization to drive the renewable energy market • Incentives and programs • Florida Energy Systems Consortium • Clean energy is designated industry cluster • Qualified for High Impact Performance Incentive

  35. Current Opportunities for Renewables • American Recovery and Reinvestment Act - $126M in State Energy Programs for: • Solar for schools $10M • Solar Energy Loan $10M • Shovel Ready Energy Grants $19.5M • Energy Efficiency & Conservation Block Grant $30.5M • Energy Efficient Appliance Rebate $17.6M • Energy Smart Grid Grant $2M

  36. Current Opportunities for Renewables • Florida Opportunity Fund • $28M VC fund • $36M – Clean tech companies • Verenium $2.5million • FPL – US’s largest generator of Renewable Energy • to install 1 million ‘smart meters’ in Miami, and later, 4.5 million in state • to build 75 MW solar thermal plant (Martin) • to build 10 MW of PV solar capacity (Brevard) • TECO is planning to build a 25MW PV plant in Polk County • Progress Energy • to expand their renewable energy systems • to install smart grid devices in 5,000 homes

  37. Current Opportunities for Renewables • FPL and Progress Energy have expressed interest to build nuclear power plants • Gulf Power is promoting solar water heating, geothermal heating and cooling and energy efficiency using rebates • Babcock Ranch – $2 billion planned city, solely powered by the sun (75MW), with FPL • Destiny, FL – to be first eco-sustainable city in US • Lee County $25 million discretionary fund to attract clean tech • $8 Million awarded to Algenol, producer of algae-based biofuels • Entrepreneurship • Offering creative energy efficient solutions to big energy consumers (hospitals, schools, universities, retail, sports stadiums, etc.)

  38. Roadmap - How do I Learn About Projects? • Company websites Electric Utilities • Florida Energy & Climate Commission (www.myfloridaclimate.org) • Industry journals and websites - Solar Industry Magazine (www.solarindustrymag.com) - Energy Central (www.energycentral.com) - American Public Power Association (www.appaet.com) • Associations: • Florida Renewable Energy Association (www.frea.com) • Florida Municipal Electric Association (www.publicpower.com), • Florida Electric Cooperatives Association (www.feca.com) • Florida Renewable Energy Association Conference • Universities • Florida League of cities • Florida Association of counties • Local School Boards

  39. ENTERPRISE FLORIDA Gary Schumann Vice President, International Business Development Enterprise Florida 201 Alhambra Circle, Suite 610 Coral Gables, FL 33134 EEUU T 305 808 3668 gschumann@eflorida.com www.eflorida.com Gonzalo Arance Deputy Director Enterprise Florida Spain Office C/ Conde de Aranda 13 28001 Madrid T Ph: +34 91 781 34 83 garance@e-finance-institute.com www.eflorida.com/spain

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