Briefing Overview :
2 Briefing Overview Invenergy Introduction Wind Energy in the Southeast U.S. Invenergy in North Carolina CONFIDENTIAL
Invenergy Introduction:
3 Invenergy Introduction Developer, owner and operator of power generation projects. Focused on the development of
renewable energy and natural gas energy projects. Invenergy management team is headquartered in Chicago with regional offices in Austin, Denver, Washington D.C. and Toronto. European development is coordinated through an office in Warsaw, Poland. At the end of 2010, Invenergy was the 6 th largest owner/operator of wind energy facilities in the United States. CONFIDENTIAL
Invenergy Wind, Thermal and Solar Portfolio - Map:
4 Invenergy Wind, Thermal and Solar Portfolio - Map CONFIDENTIAL
Wind Energy in the Southeast U.S. Market Forces:
5 Wind Energy in the Southeast U.S. Market Forces Improved Turbine Technology Longer Blades Taller Towers Reduced Turbine Prices Increased Competition Reduced Gas Prices Changing Power Markets Plant Retirements Transmission Constraints CONFIDENTIAL
Wind Energy in the Southeast U.S. Increased Activity:
6 Wind Energy in the Southeast U.S. Increased Activity Announced Developments Florida North Carolina Development Activity Alabama Georgia South Carolina Tennessee RFPs / Power Purchase Agreements Duke Energy Corporation (North Carolina) Progress Energy Carolinas Mississippi Power Tennessee Valley Authority CONFIDENTIAL
Wind Energy in the Southeast U.S. Key Success Factors:
7 Wind Energy in the Southeast U.S. Key Success Factors Production Tax Credit Extension State Support Renewable Portfolio Standards / Rate Recovery for PPAs Property Tax Support Efficient Permitting Wildlife Wetlands
Aviation CONFIDENTIAL
Invenergy in North Carolina Market Overview:
8 Invenergy in North Carolina Market Overview CONFIDENTIAL NC Renewable Energy Portfolio Standard (2007) IOUs must ramp up to 12.5% renewables by 2021. Munis and Coops must ramp up to 10% by 2018 Includes limits on out-of-state RECs and carve outs for solar, swine waste and poultry waste Siting Windiest sites (Western NC ridges) are off-limits (for now) Coastal plains have lower wind speeds, but offer Robust transmission i nfrastructure Compatible existing l and uses Constraints Military aviation Wetlands Wildlife
Invenergy in North Carolina Active Developments:
9 Invenergy in North Carolina Active Developments CONFIDENTIAL 800 MW of projects under development in PJM $1.6 billion of potential capital investments Located primarily in large agricultural areas (potatoes, corn, cotton, soy) Pantego (Beaufort County), 80 MW originally scheduled for construction in 2012 Hales Lake (Camden & Currituck Counties) – 300 MW targeting 2013 construction Tyrrell (Tyrrell County) – 160 MW Long Acre (Beaufort & Washington Counties) – 260 MW