WindDev Oct08 Tutorial Agenda Final

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• Publié par: Mivug
• Nombre de lectures: 11
• Langue: English

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Wind Power Development Tutorial
Chicago
October 22-24, 2008


Wednesday, October 22, 2008

Pre-Conference Workshop: Dealing with Utility "Build-Transfer" Issues on Wind
Projects


Thursday, October 23, 2008

Tutorial

8:00-8:05 Administrative announcements and opening remarks by the
Conference Chair
Mark Safty, Partner, Holland & Hart LLP


8:05-8:45 Introduction to a Model Wind Project Development Roadmap and
Outline of Main Project Risks
• Life-of-project timeline
• Activities to be completed
• Contracts to be negotiated
• Permits to be obtained
Mark Safty, Partner, HOLLAND & HART LLP


8:45-10:00 Wind Power Business Models: Deal Structures and Economics and
Overview of Wind Power Project Financing
As wind power developments see exponential growth, project financing
races to keep pace. This presentation will explore a range of issues that
can impact the viability of a project’s financing, including general costs
and economics, debt vs. equity financing, capitalizing upon governmental
incentives and creating a sound legal structure of contracts for your
financing.
The presentation will also introduce attendees to how wind power projects
work as businesses and produce cash. It will provide sample project pro
formas for wind power projects, with the goal of illustrating the key
economic factors, given a range of financing structures. It will also spell
out the chief wind power project risk factors and how they can be
mitigated.
Mohammed Alam, President, ALYRA RENEWABLE ENERGY
FINANCE, LLC
Stephen Krebs, Partner, BAKER BOTTS LLP


10:00-10:15 Break


10:15-11:00 Wind and Project Performance Risk Assessment
Wind Resource Fundamentals
• Variability
• Shear
• Turbulence
Accessing the Resource
• Modeling
• Met towers
Designing a Program
Estimating Energy
• Gross energy
• Net energy
• Uncertainty Analysis
Kimberly Comstock, Project Engineer, DNV GLOBAL ENERGY
CONCEPTS, LLC


11-11:45 Turbine Selection
At the heart of every wind project is the wind turbine generator. With a
value of 70% - 80% of the overall project capital cost and being the
project revenue driver, wind turbine selection is a critical project
development decision. This presentation will discuss the major criteria
involved in selecting wind turbines including:
Current market availability of wind turbines
Power curve and power density
Ease of transportation, installation, operation and maintenance
Reliability
Grid stability features
Warranties and O&M services
New technologies in the marketplace
Jon Fournier, Head, Wind Resource Group, ORTECH POWER

11:45-1:15pm Group Luncheon


1:15-2:00 Financing the Purchase of Wind Turbine Generators
• Sources of financing
• Typical turbine supply loan terms • Loan-to-value ratio
• Security mechanics
• Making the Turbine Supply Agreement financeable
• Vendor consents
• Coordination with other project developing activities: timing
Ari L. Bessendorf, Associate, MILBANK TWEED HADLEY &
MCCLOY LLP


2:00-2:45 Successfully Permitting Wind Energy Facilities
This presentation will provide a roadmap to successfully permitting wind
energy facilities. It will explore the major environmental issues and steps
that you must take to complete the permitting process DD. The following
topics will be addressed:
• Environmental permitting as part of the development process
including an overview of the permitting process, project feasibility
and design from an environmental perspective, must-do steps, and
how long it will take.
• Major environmental issues including:
o Avian and bat assessments
o Wetlands and other sensitive habitats
o Visual impact Analysis
o Aviation and Radar
• Major environmental regulations and how they affect your project
including the National Environmental Protection Act, state
equivalent acts, state siting councils, and local zoning
requirements.
Pauline E. Doohan Partner BAKER & McKENZIE LLP


2:45-3:15 Break


3:15-4:00 Transmission Access and Interconnection Related Issues
• Transmission access and interconnection—key determinants of wind
project success
• Overview of processes in various regions
• Potential pitfalls and workarounds
• Status of FERC review of queuing and interconnection issues with
renewables
• Update on the situation in the Midwest
• Update on the situation in Texas
• Issues in NYISO
• Changes to procedures in CA-ISO
E. Glenn Rippie, Partner, FOLEY & LARDNER

4:00-4:45 Structuring Power Purchase Agreement and Market Hedge Based
Projects
• What pricing structures are available for PPAs?
• What factors should be considered before pursuing a market hedge
based strategy?
• What is the current market for hedges?
• How does current lender risk appetite affect project financeability?
• How are risks associated with PTC loss allocated?
• How are transmission and imbalance risks dealt with?
• How are imbalance risks dealt with?
• How are competing interests of power purchasers and lenders resolved?
• What performance security is required?

William H. Holmes, Partner, STOEL RIVES LLP

4:45-5:30 Estimating Costs
• Capital Costs
o Turbines
o Other equipment
o Construction costs
• Operational Costs
o O&M
o Fixed & Variable Parts
• Feasibility
o Revenue
o IRR
o Cost of Funds
Andrew Chant, Managing Director, ORTECH CONSULTING INC.

Friday, October 24

8-8:45 Tools and Techniques for Asset Valuation of Wind Plants
Macro economic projections—how fast is the wind market growing in the
US?
Assessing plant economics—what $/Mw will the power market tolerate?
Estimating capacity factors for intermittent assets
Assessing valuations for assets in merchant markets such as
Texas and New York
Floris Lyppens, Head of U.S. Energy Investment Banking, FORTIS
SECURITIES LLC

8:45-9:15 Case Study: Wind Farm Development
Caton Fenz, Project Manager, HORIZON WIND ENERGY LLC



9:15-9:45 Structuring a Wind Project to Maximize Production Tax Credits
• Update on the state of the tax equity market
• Overview of the two main structures wind developers are using to
"monetize" tax subsidies for wind farms, and possible variations on
them
• What the IRS is likely to say in guidance about "partnership flip" deals
• The latest news from Capitol Hill about extension of production tax
credits and expanding the use of master limited partnerships to wind
farms
• Other issues taking up time in pending deals
Keith Martin, Partner, CHADBOURNE & PARKE, LLP


9:45-10:00 Break


10:00-11:15 Panel Discussion:
Dealing with the Impacts of the Dynamic PTC Situation on
Development
• How can developers manage around the uncertainties to keep projects
going?
• Dealing with the impacts on turbine delivery and supply chain
• Developing alternative structures and contractual arrangements
• Mitigating PTC risk in financing

Moderator:
Keith Martin, Partner, CHADBOURNE & PARKE, LLP

Panelists:

Gisela Kroess, Director Global Project Finance, HVB
Lorenzo Landini, Vice President, ECT/Project Finance, FORTIS
SECURITIES LLC
Martin Torres, Associate, MORGAN STANLEY GLOBBAL CAPITAL
MARKETS


11:15-11:30 Chairman’s Closing remarks

11:30 Tutorial Adjourns