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Wind Energy Leases

Wind Energy Leases. Kansas Wind & Renewable Energy Conference September 24, 2008 Mark Lawlor Horizon Wind Energy. Who We Are. Horizon Wind Energy develops, constructs, owns and operates wind farms throughout the U.S.

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Wind Energy Leases

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  1. Wind Energy Leases Kansas Wind & Renewable Energy Conference September 24, 2008 Mark Lawlor Horizon Wind Energy

  2. Who We Are • Horizon Wind Energy develops, constructs, owns and operates wind farms throughout the U.S. • Originally Zilkha Renewable Energy. Acquired by Goldman Sachs in 2005 and renamed Horizon Wind Energy. Acquired by Energias de Portugal (EDP) in 2007. • Headquartered in Houston with regional offices in New York, Oregon, California, Oklahoma, Colorado, Minnesota and Illinois • Over 200 employees • Have developed more than 2000 MW of operating wind farms, and own over 1300MW

  3. What We’ve Done Maple Ridge Wind Farm 322 MW, Lewis County NY Top of Iowa Wind Farm 80 MW, Worth County Iowa Blue Canyon Wind Farm 225 MW, near Lawton OK Tierras Morenas 24 MW, Costa Rica Lone Star 400 MW, Shackelford County TX Elkhorn Valley 100 MW, Union County WA Prairie Star 100 MW, Mower County MN Twin Groves 396 MW, McLean County IL

  4. The Wind Energy Lease Common Elements Easements • Easements (run with the land) • Capture wind • Access: roads, crane travel path, distribution • Construction

  5. The Wind Energy Lease Term: • Option/Development Term • Allows developer to conduct due diligence • Extended/Operational Term • Driven by PPA, market, economics, transmission Rent: • Royalty on Gross Revenue • Nameplate Schedule * A note on the Kansas Market

  6. The Wind Energy Lease Common Wind Company Covenants: • Keep roads in good repair • Keep land free of liens • Pay taxes • Keep project in state of good repair Landowner Covenants: (based on landowners actual knowledge) • Authority • Free of bankruptcy, pending litigation, judgments • Hazardous material • Unrecorded agreements • No interference • Hunting

  7. The Wind Energy Lease Assignment, Subleasing & Mortgaging: • Limited area of negotiation • Wind company must be able to assign, sublease, grant a subeasement or license in or transfer any portion of the lease to third parties Default & Remedies • Notice, cure, remedies under law

  8. The Wind Energy Lease Restoration/Decommissioning: • Turbines • Foundation • Restoration Fund • Superseded by governmental permit fund • Fall back: scrap value

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