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Winning with Community Wind

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Winning with Community Wind

  1. 1. Winning with Community Wind Jeff Wright, Vice President Midwest Wind Finance
  2. 2. Midwest Wind Finance We arrange financing for community-scale wind projects throughout North America > Permanent financing > Construction loans > Turbine down payments > Development capital We champion return of ownership to the people who start the projects
  3. 3. Developing Community Wind Projects is NOT for the Faint of Heart
  4. 4. The Wind Developer’s Handbook
  5. 5. Our Due Diligence Checklist has Eight Pages and 171 Steps
  6. 6. Think Parallel Tracks, not Linear NO Permits Interconnect Money Turbines YES Permits Interconnect Money Turbines
  7. 7. Smart Money after Small Money > Do quick feasibility assessment, $20,000 to $50,000 > Get to a NO or STRONG MAYBE
  8. 8. You’ll be Faced with Many “Chicken and Egg” Situations
  9. 9. Chicken and Egg Frustrations Need Turbines to Get Interconnect – Need Interconnect to Get Turbines Need Money to Get Turbines – Need Turbines to Get Money TURBINES IC TURBINES $
  10. 10. Get Used to Backtracking
  11. 11. Power Purchase Agreement > Can wait until near the end > Rates generally going up > Brokers can be helpful > Merchant might be an option
  12. 12. Met Towers Get up right away
  13. 13. Interconnect > The KEY development step > Project becomes legitimate at this point
  14. 14. Development Capital > Have this lined up > Easily $200,000 to $300,000 or more
  15. 15. Turbines > Still very short supply > Find a partner > Available? > Financeable? > Fit wind regime? > Fit land?
  16. 16. Facilitate Coordination Between all Players
  17. 17. “Never, never, never give up” – Winston Churchill …Well, maybe sometimes
  18. 18. When to Sell Out Wind assessment and some Interconnection Construction Lease only permits approval ready $ $$ $$$ $$$$
  19. 19. Project Finance > Flip Structures > Revenue Participation Models Revenue Revenue 0 yrs 10 yrs 20 yrs
  20. 20. Some Benefit to Lining up Financing Early in the Process > USDA grant/loan application > Interconnect and PPA negotiation > Development help > Peace of mind
  21. 21. For Beginners – This Will Take WAY Longer Than You Think
  22. 22. Benefits of Small > Community support > Simpler permitting > Easier interconnect > Turbine drop out orders
  23. 23. Spinning!
  24. 24. Thank You Jeff Wright-Vice President Midwest Wind Finance 12 South Sixth Street, Ste 211 Minneapolis, MN 55402 Phone: 612-332-0607 Email: jeff@mwwind.com

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