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Great River Energy s Renewable Energy Activity

Great River Energy. Generation and Transmission (G

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Great River Energy s Renewable Energy Activity

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    1. Great River Energy’s Renewable Energy Activity October 2006 Webinar Mark Rathbun – Great River Energy

    2. Great River Energy Generation and Transmission (G&T) Cooperative 28 Member Distribution Cooperatives Serve 600,000+ cooperative members Second largest electric utility in Minnesota 4th largest G&T cooperative in U.S. 2,500 MW generating capacity 4,000 MW by 2015 10,500,000 MWH annual sales to members

    3. Great River Energy This slide compares GRE’s member systems’ relative to the new MN wind resource maps published by WindLogics and the MN DOC.This slide compares GRE’s member systems’ relative to the new MN wind resource maps published by WindLogics and the MN DOC.

    4. Great River Energy – Renewables Today First electric utility in region to offer members a green pricing option – Wellspring 4,579 subscribers system wide Purchase over 18 million kWh/year Not currently Green-e certified Increased interest from commercial customers First MN electric utility to commit to Minnesota’s Renewable Energy Objective (REO) 10% renewable energy by 2015 500 MW nameplate capacity wind Community Based Energy Development (CBED)

    5. Great River Energy’s Renewable Portfolio - 2006 Chandler Hills est. 1999/2001 9 Vestas 660 kW turbines McNeilus Wind est. 2003 6 NEG Micon (now Vestas) 950 kW turbines Christoffer Wind est. 2003 6 Suzlon 950 kW turbines Trimont Wind est. 2005 67 General Electric 1,500 kW turbines (1.5 MW) Elk River Station 39 MW RDF plant Anaerobic Digesters and Landfill Gas Vestas turbines are from Denmark NEG Micon recently merged with Vestas Suzlon turbine are made in India GE turbines comprise 60% of all turbines constructed in the US (US company, world-wide manufacturing) formerly Enron Wind, before that Zond WindVestas turbines are from Denmark NEG Micon recently merged with Vestas Suzlon turbine are made in India GE turbines comprise 60% of all turbines constructed in the US (US company, world-wide manufacturing) formerly Enron Wind, before that Zond Wind

    6. Trimont Wind I Nearly 50 landowners host the project Over $1 million/year into the economy in Martin and Jackson Counties Produces over 340,000 MWh/year Enough to supply the annual energy needs 29,000 homes Provides competitively priced, environmentally friendly energy for an expected lifetime of over 20 years

    7. Great River Energy – Renewables in the Future In October 2005, we issued a Renewable Request For Proposals (RFP) 100 MW any ownership structure 20 MW community based ownership Proposal prices significantly higher than last RFP Signed PPA with Horizon Wind December 2007 COD Currently negotiating with other short-list qualifiers Represents 140 MW additional wind

    8. Great River Energy – Renewables in the Future Our Integrated Resource Plan (IRP) projects 100 MW of wind each year through 2015 We expect that a large percentage of future renewable resources will be community wind Many CBED wind projects will be hosted by our cooperative members = economic benefits to local economy If Clean Renewable Energy Bonds (CREBS) continue funding, we expect to take an ownership position in future projects

    9. Renewable Energy Credits (RECs) Renewable Energy Credit (REC) Sales Asset optimization Voluntary market currently yields low prices Reward v. Risk Increased interest and appetite for longer term contracts Midwest Renewable Energy Tracking System (M-RETS)

    10. Other Renewable Issues and Activities Federal PTC set to expire December 31, 2007 Potential increase to wind prices of $19/MWH GRE not willing to accept PTC risk for projects beyond 2007 Obstacles to overcome Turbine availability and related price increases Transmission limitations We denominated RFP in MW, when we really want MWh (that is how the REO is measured) 300,000 MWh is about what 100 MW nameplate will produce.We denominated RFP in MW, when we really want MWh (that is how the REO is measured) 300,000 MWh is about what 100 MW nameplate will produce.

    11. Other Renewable Issues and Activities Minnesota Legislature debating 20% Renewable Portfolio Standard Increasing costs for Baseload resources and future CO2 developments could accelerate our renewable activities Great River Energy plans to take a leadership role in renewable energy development and environmental stewardship

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