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The Story of a Community Wind Project Judith Lipp, Executive Director Toronto Renewable Energy Cooperative Community Power...
About TREC <ul><li>Established in 1998 to build community power projects </li></ul><ul><li>Developed the first urban wind ...
TREC’s Generation Projects <ul><ul><li>Our Power:  a meeting place and business exchange for everyone interested in the so...
Lakewind Project Milestones <ul><li>Project size: 20 MW </li></ul><ul><li>Location: near Kincardine, Bruce County </li></u...
 
Investment Requirements <ul><li>Projected Capital Cost:  $50 million </li></ul><ul><li>Projected take out financing  $35 m...
Ownership Structure <ul><li>Project development: TREC </li></ul><ul><li>Ownership:  Lakewind Power Co-operative Inc. </li>...
<ul><li>Thank you  </li></ul><ul><li>www.trec.on.ca </li></ul><ul><li>info @trec.on.ca </li></ul><ul><li>416 977 5093 </li...
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The Story of a Community Wind Project

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The Story of a Community Wind Project
Speaker: Judith Lipp, Executive Director, Toronto Renewable Energy Co-operative (TREC)

Part of the 2010 Community Power Finance Forum at MaRS:
http://www.marsdd.com/communitypower

Published in: Business, Technology
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The Story of a Community Wind Project

  1. 1. The Story of a Community Wind Project Judith Lipp, Executive Director Toronto Renewable Energy Cooperative Community Power Finance Forum May 2010
  2. 2. About TREC <ul><li>Established in 1998 to build community power projects </li></ul><ul><li>Developed the first urban wind turbine in Canada – </li></ul><ul><li>Ex Place turbine (2002) </li></ul><ul><li>750 kW project (RESOP contract) – Joint Venture with Toronto Hydro </li></ul><ul><li>Community ownership through Windshare Energy Co-operative (450 community investors) </li></ul><ul><li>Pioneer in community power (CP) – helped inform GEA </li></ul><ul><li>Leader in renewable energy education and new CP generation </li></ul>
  3. 3. TREC’s Generation Projects <ul><ul><li>Our Power: a meeting place and business exchange for everyone interested in the solar microfit market; engaging homeowners, solar vendors, utilities and other partners around solar energy uptake in Ontario. </li></ul></ul><ul><ul><li>SolarShare :   building co-operatively owned solar photovoltaic projects - up to 250 kW. Creation of the essential tools and documents to help others </li></ul></ul><ul><ul><li>Lakewind :  a 20 MW co-operatively owned wind farm near Kincardine – in progress since 2004 </li></ul></ul>
  4. 4. Lakewind Project Milestones <ul><li>Project size: 20 MW </li></ul><ul><li>Location: near Kincardine, Bruce County </li></ul><ul><li>Site control established: 900 acres </li></ul><ul><li>Secured by lease option agreement - 20 year lease </li></ul><ul><li>Two year wind resource assessment completed </li></ul><ul><li>Excellent wind resource </li></ul><ul><li>Environmental assessment process started </li></ul><ul><li>FIT application – ECT queue position </li></ul>
  5. 6. Investment Requirements <ul><li>Projected Capital Cost: $50 million </li></ul><ul><li>Projected take out financing $35 million </li></ul><ul><li>Projected equity position $15 million </li></ul><ul><li>Projected NPV $9.4 million </li></ul><ul><li>Projected IRR 11.5% </li></ul><ul><li>Time to positive Cash flow 7.4 years </li></ul><ul><li>FIT rate for wind 13.5 c/kWh + 1 c/kWh adder for community ownership </li></ul>
  6. 7. Ownership Structure <ul><li>Project development: TREC </li></ul><ul><li>Ownership: Lakewind Power Co-operative Inc. </li></ul><ul><li>Share structure: </li></ul><ul><ul><li>Member shares - voting </li></ul></ul><ul><ul><li>Preference shares - non-voting </li></ul></ul><ul><li>Control lies in the hands of the membership shareholders </li></ul><ul><li>Opportunity for Partnership - JV, LP </li></ul>
  7. 8. <ul><li>Thank you </li></ul><ul><li>www.trec.on.ca </li></ul><ul><li>info @trec.on.ca </li></ul><ul><li>416 977 5093 </li></ul>

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