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Wind Energy Discussion Van Wert County Economic Development June 22, 2011

Wind Energy Discussion Van Wert County Economic Development June 22, 2011. Blue Creek Overview Regulatory environment in Ohio. Blue Creek Wind Farm. 152 wind turbines Gamesa G90 2.0 MW on 100m towers Approx $600M investment Construction started September 2010

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Wind Energy Discussion Van Wert County Economic Development June 22, 2011

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  1. Wind Energy Discussion Van Wert County Economic Development June 22, 2011 Blue Creek Overview Regulatory environment in Ohio

  2. Blue Creek Wind Farm • 152 wind turbines • Gamesa G90 2.0 MW on 100m towers • Approx $600M investment • Construction started September 2010 • Should go online in December 2011 • Approx $1.1 million in annual lease payments • Approx $2.7 million/year in local property tax revenue • 114 turbines in Van Wert County, 38 in Paulding • 15-20 new permanent jobs

  3. Our Three Projects

  4. Our Three Projects • Blue Creek – up to 350 MW (175 turbines) • Prairie Creek – 200 MW (100 turbines) • North of Ohio Route 114 • Dog Creek – 300 MW (150 turbines) • East of U.S. Route 127 • Strong interconnection positions for all three. • Total investment: approx $1.7 Billion

  5. Doing Business in Ohio • Permits – the OPSB, Federal, local • SB 221 (2008) – Portfolio Standard • SB 232 (2010) – Property Taxes

  6. Ohio Power Siting Board • Division of PUCO, issues CECPNs • 2008 rules to govern wind farms > 5 MW • Blue Creek Timeline • Dec 21, 2009 filing of 3,000+ page application • April 2010 supplemental filing with re-designed project • July 15, 2010 Stipulation reached with Staff • August 23, 2010 CECPN issued • September 22, 2010 Start of Construction approved • Thorough, centralized process

  7. Federal and local permits • Federal • FAA • ACOE • Local • Officially, none • Road Agreement • Regular communication with townships and counties

  8. SB 221 (2008) • Advanced Energy Portfolio Standard (“RPS” elsewhere) • 25% by 2025: 12.5% renewable, 12.5% advanced • 2.5% by 2014, then increases of 1% per year • 0.5% “carve-out” for solar energy • 50% in-state requirement • Created a market for renewable energy in OH • Led us to move project plans from IN to OH • Adds long-term price stability to OH market • Fixed prices at 5-8 cents/kW-hr for 20 years

  9. SB 232 (2010) • PILOT for personal property taxes • Vital for capital-intensive wind projects • Replaced rates of up to $40k/MW/yr with $9k/MW/yr • Clarified sales tax exemption for energy conversion equip. • Need County-level approval • Need to hire >50% Ohio-domiciled employees • $6k if >75%, $7k if >60%, $8k >50% • Other reqs: educational partnership, emergency responders, road repairs, sell to OH utilities • 2 year term, but current budget bill includes 3 yr extension

  10. SB 232 (2010) relative to adj. states

  11. SB 232 (2010) local benefit • Blue Creek in VW County: 114 x 2.0 MW turbines $9k/MW = $2,052,000 new rev/year = top 14 current taxpayers combined

  12. Local Benefits of Blue Creek and Timber Road II • Peak construction jobs: 495 • New permanent jobs: 30 • NW Ohio vendors/suppliers to the projects: 40 • Total spending on local contracts: $21.3 M • Total local spending in April by out of state workers: $100,000 • Combined annual local taxes: $3.6 M • Combined annual landowner payments: $2.6 M • To-date local contributions: $145,000 • Vantage contributions over 20 years: $325,000

  13. Contact information www.iberdrolarenewables.us/bluecreek.html dlitchfield@iberdrolaren.com 773-318-1289 126 E Main St, Van Wert

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