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The Coastal Energy Project

The Coastal Energy Project. Craig Dublanko Finance Officer Coastal Community Action Program. Presentation Overview. Who We Are Project Vision How Did We Get Here…? Current Project Status Financing Package Next Steps… About The Turbines Wind Energy Basics Project Outcomes Summary.

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The Coastal Energy Project

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  1. The Coastal Energy Project Craig Dublanko Finance Officer Coastal Community Action Program

  2. Presentation Overview • Who We Are • Project Vision • How Did We Get Here…? • Current Project Status • Financing Package • Next Steps… • About The Turbines • Wind Energy Basics • Project Outcomes • Summary

  3. Who We Are • Coastal Community Action Program • Over 100 Federal, State, Local and Private Grants • Annual Budget: $7.3 Million • Employees: 175+ • Serving Grays Harbor and Pacific Counties in Washington State

  4. Project Vision • Problem: • We Cap Our Annual Waiting List For LIHEAP At 300 Families • LIHEAP Funding Fluctuates • We Have Many Unmet Needs With No Funding • Solution: What Local Resources Do We Have That Can Supplement Existing LIHEAP Funds and Make Us Less Dependent On Federal and State Funds Long-Term? • In Our Case…We Have Wind

  5. Project Vision • Generate Wind Energy to Benefit Low-Income Families in Grays Harbor & Pacific Counties • Supplement Existing LIHEAP Dollars with Locally Generated Energy Dollars • CCAP Will Sell Power to Generate Supplemental Monies for Other Existing Programs As Well • Two 2.5 MW Class Wind Turbines Installed In Hills Above the Grayland Cranberry Bogs

  6. How Did We Get Here? • Our Story… • First Conversations, First Conference • Number Crunching • Bad Idea…Very Expensive, Low ROI • End of Idea. • …For Two Months

  7. How Did We Get Here? • New Idea… • Is It Possible To Raise The Money? • Studying, More Number Crunching • High ROI • High Community Benefit • Time For Some REAL Meetings

  8. How Did We Get Here? • Met with Grays Harbor PUD • Met with Pacific County PUD • Met with Wind Energy Experts

  9. How Did We Get Here • Went To More Conferences To Learn More About Wind Energy • Found A Location, Moclips, WA • Need Real Wind Data To Sell Idea

  10. How Did We Get Here • Received Permission From Landowner to Site Wind Test Tower • December 2002—Received REACH Funding For: • Business Plan • Leased Wind Test Tower • This Was Huge For Us

  11. How Did We Get Here • Installed 50 Meter Wind Test Tower • April 9-10, 2003 • Hired A Wind Consulting Firm • Business Plan • Feasibility Study • Real “Critical Analysis”

  12. How Did We Get Here • Found A New Site…Grayland, Washington • Great Landowner • Received Funding To Do A Second Study in 2004 – REACH II • Moved Old Test Tower and Leased a Second Tower for the New Site

  13. Current Project Status • Completed Installation in August of 2004 • Wind Study Completed Fall of 2005 • Currently Have Over 3 Years of Wind Data from the Site.

  14. Current Project Status • Land Secured • $10,400,000+ In Capital Secured • Wind Resource Verified • Avian and SEPA Steps Have Begun • Turbine Procurement Process is Just Starting • Working Out Logistical Issues

  15. Financing Package • $5,000,000 State Line Item Appropriation • $2.7 Million (Approx.) From Bank #1 • NMTC Deal • $2.7 Million (Approx.) From Bank #2 • PTC & Accelerated Depreciation • $10.4 Million Leveraged Debt Free

  16. Next Steps… • Secure Power Purchase Agreement • Secure Turbines • Work Out Logistics • 165’ Blades… • 650 Ton Crane • Small Scale Procurement Of Towers • Much More… • Environmental, Power Marketing, Etc.

  17. About The Turbines • 100 Meters to the “Hub” • 50 Meter Blades • 6 Second Rotation • Tubular Towers • Naselle Weighs 90 Tons • Built-in Crane

  18. Turbine Photos

  19. Turbine Photos

  20. Wind Energy Basics • Cost: $2 Million/MW Installed • 1 MW = Power For Approximately 700 Homes Annually • Wind Energy Has a Capacity Factor Averaging 30% • Minimum Wind Resource Is 6.0m/s at 50 Meters

  21. Wind Energy Basics • Major Aspects Of A Project • Turbines – 18 Months Out • Site Control and Long Term Lease • Environmental Issues • Power Purchase Agreement (PPA) • Financing Package • Transmission/Interconnect

  22. Wind Energy Basics • Revenues – Three Areas • PPA – Local Utility • Production Tax Credit (PTC) & MACRS • Green Tags • Revenue Numbers • $50 PPA • $20 PTC • $5 Green Tags • $75/MW Hour

  23. Wind Energy Basics • Expenses: • Debt Service • Operations & Maintenance • Land Lease • Wheeling & Metering • Firming

  24. Wind Energy Basics • Returns: • Generally Wind Projects Debt Is Retired in 10-12 Years • Life Span Of Turbines is Between 20 & 25 Years • Once Debt is Retired…Very Profitable • Maintenance

  25. Project Outcomes • Generate Over $600,000 annually in Family Emergency Assistance Dollars • Assist Approximately 1000 Households Annually • Generate Renewable Energy And Create a Model For Other Communities

  26. Project Outcomes • Create Economic Development on Coast of Grays Harbor County • Provide Renewable Energy Education for Coastal Visitors

  27. Summary • Many Years of Preparation and Perseverance Have Brought Us To This Point • Many People Have Stepped In And Made This Project Possible • 5 Megawatt Project Will Be Developed by 2009

  28. Thank You Craig Dublanko Finance Officer, CCAP Aberdeen, Washington (360) 533-5100 Ext. 126 craigd@coastalcap.org

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