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Privileged & Confidential 1 Apex Wind Energy, Inc. Queen Charlotte Square 212 East High Street Charlottesville, VA 22902 Tel: 434 220 3710 Fax: 434 220.

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Presentation on theme: "Privileged & Confidential 1 Apex Wind Energy, Inc. Queen Charlotte Square 212 East High Street Charlottesville, VA 22902 Tel: 434 220 3710 Fax: 434 220."— Presentation transcript:

1 Privileged & Confidential 1 Apex Wind Energy, Inc. Queen Charlotte Square 212 East High Street Charlottesville, VA Tel: Fax: Elk River Windfarm, LLC January 24, 2006 Apex Wind Energy NYSERDA Business Development Program Review Thursday, June 10, 2010 Brooklyn, NY

2 Privileged & Confidential 2 The Company has aggregated a sizable portfolio of wind energy development projects with funding from private investment firms and family offices With a proven track record and a growing development portfolio, Apex is well-positioned to participate in the growth of the wind industry Apex acquires and develops wind energy facilities in North America

3 Privileged & Confidential Management Experience Note: These wind energy facilities were developed or financed by the Apex management team while with their predecessor companies. Direct involvement in the realization of over $12 billion of wind energy facilities 3 NameStateCapacity Wild HorseWA230 MW Rattlesnake RoadOR103 MW Wheat FieldOR100 MW Elkhorn ValleyOR103 MW WhitewaterCA62 MW CabazonCA41 MW Judith GapMT135 MW Rock RiverWY50 MW Cedar CreekCO300 MW Trent MesaTX150 MW Desert SkyTX161 MW Lone Star I & IITX400 MW McKeeTX50 MW VelvaND12 MW TatankaND180 MW Flat RidgeKS100 MW Meridian WayKS200 MW Elk RiverKS150 MW Red HillsOK123 MW Blue Canyon I,II &VOK325 MW Pioneer PrairieIA300 MW Prairie StarMN100 MW Rail SplitterIL100 MW Twin Groves I & IIIL400 MW Meadow LakeIN200 MW Steel WindsNY20 MW Maple RidgeNY320 MW NerefcoNL23 MW Total4,438 MW The Apex team has been directly involved in the development, procurement or financing of the following projects, representing over 6,528 MW of wind energy facilities now in commercial operations.

4 Privileged & Confidential Experience Team Combined 80 years experience in the wind industry, over $12 billion in wind facilities developed Over $22 billion of financings for wind and conventional power plants Negotiated and executed wind turbine supply agreements in excess of $3.5 Billion Experienced in finance, legal, PPA negotiation, transaction structuring, project acquisition Greenfield development, permitting, regulatory and transmission interconnect Extensive industry and banking relationships 4 Photo courtesy of The New York Times

5 Privileged & Confidential 5 Market Segments BrownfieldGreenfieldOffshore Project Size$20 to 150 million$100 to 700 million$1 billion and up Apex Position National leader with proven track record and recognized projects Rapid growth through acquisition in strong markets First mover with strategy for site control and risk management Transmission Capacity Typically readily available, projects are close to load Constrained - often limiting factor of project size Typically readily available, projects are close to load InterconnectionTypically substation is onsite Can require miles of new transmission Sub-sea cabling landed to point of interconnect Permitting, EnvironmentalLower permitting requirements Can be a significant barrier in certain regions Expensive studies, largest development cost Site Control Can be complicated process with corporate and public owners Straightforward, can be competitive New Federal regulations, Apex strategy in Great Lakes Time to Develop1 to 3 years1 to 5 years3 to 8 years Power Sales Often in robust power markets with high nodal prices. Merchant Both illiquid regions and liquid markets. PPA or Merchant To be determined PortfolioAK, NY, OH, MD, MI, MN, and WVOH, IN, OK, KS, and TXVA, OH, PA, NC, NY, and Ontario

6 Privileged & Confidential Elk River Windfarm, Kansas (2005) 150 MW wind energy capacity $200 million facility Developed by Apex management team, Purchased by PPM Energy 300 MW wind energy capacity $500 million facility Developed by Apex management team, Purchased by Babcock & Brown and BP Alternative Energy Cedar Creek Windfarm, Colorado (2007) 6 Selected Completed Projects

7 Privileged & Confidential Judith Gap, Montana (2005) 135 MW wind energy capacity $230 million facility Developed by Apex management team, Purchased by Invenergy 7 Selected Completed Projects (cont.) Photo: Wall Street Journal Facility will supply ca. 45% of refinery electricity needs Valero Energy, Texas (2009) 50 MW wind energy capacity $100 million facility Developed by Apex management team, Purchased by Valero Energy

8 Privileged & Confidential 8 Power Engineering Magazine (Jan 2008) 2007 Best Renewables Project of the Year Only wind project on US shores of Great Lakes Within 400’ of Lake Erie shoreline Built on Former Bethlehem Steel Mill site in Lackawanna, New York Eight Clipper 2.5 MW turbines, 20 MW Adding 18 more turbines in 2010 Steel Winds, New York (2007) 20 MW wind energy capacity $34 million facility Developed by Apex management team, Purchased by First Wind Selected Completed Projects (cont.)

9 Privileged & Confidential NY Projects Underway: Lake Erie Wind 9 Apex has identified a lease area of approximately 76,000 acres in the New York area of Lake Erie. This site is in shallow water depths near high voltage transmission. New York New York has a Renewable Portfolio Standard goal of 30% by This RPS will require significant new renewable generation capacity. The New York Power Authority has issued a RFP for offshore wind development in the Great Lakes and intends to select a developer by December 2010 Apex Developed Steel Winds (BQ Energy) Performed NYSERDA- funded study to determine feasibility of offshore wind in Lake Erie Developed ice-resistant foundation design with C-Core Engineering Filed for transmission interconnection for 810MW Requested lease from Office of General Services and have served notices to nearby counties Submitted bid for NYPA Great Lakes Offshore Wind RFP New York Dunkirk Buffalo

10 Privileged & Confidential NY Projects Underway: Fresh Kills 10 Follow up to NYSERDA-funded study of feasibility of 17.5MW wind plant at Fresh Kills. Current phase to determine & navigate regulatory process for permitting a landfill wind turbine. Fresh Kills is the test case.

11 Privileged & Confidential Building landfill-based wind energy skills The landfill wind energy study is State-wide in scope with nation-wide relevance and application. Determine regulatory process for landfill turbine installation. Identify candidate landfill wind energy sites across NY state. Obtain permits for turbine at Fresh Kills landfill as a test case. Write the business plan for landfill- based wind energy.

12 Privileged & Confidential Company Background Greenlight has 30 projects in 15 states with over 200,000 acres under lease, sufficient to support 4,500 MW of wind energy facilities BP acquires Greenlight for $125 million, team stays on with BP to complete projects Greenlight team forms Apex Wind Energy $200 million Elk River Windfarm in Kansas begins commercial operations $500 million Cedar Creek Windfarm in Colorado completes PPA with Xcel Energy Greenlight Energy Resources formed to invest in renewable energy sector. Greenlight Energy, Inc. formed to develop wind energy 12

13 Privileged & Confidential Company Overview 13 GREENLIGHT E NERGY R ESOURCES GREENLIGHT BIOFUELS C O L U M B I A P O W E R


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