K Road Power
Transcript of K Road Power
K Road Power Overview | December 2011
CONFIDENTIAL AND PROPRIETARY
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1. Introduction to K Road Power
2. Development Strategy and Project Portfolio
3. Near-Term Project Pipeline
K Road Moapa
Indian Reservation Development Strategy
4. K Road Development Experience (Plant List)
Table of Contents
Introduction to K Road Power
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• Independent Power Producer (“IPP”) that develops, constructs, owns and operates utility-scale solar power facilities
Founded by William Kriegel, former Chairman and CEO of Sithe Energies Inc.
Backed by Global Fortune 500 Investor (Barclays PLC)
Team backgrounds include AES, Goldman Sachs, Sithe, Trina Solar and Tessera Solar
2,300 MW solar pipeline across the United States
• The K Road team has developed and operated over 20,000 MW of power assets
Developed over 260 MW of utility-scale solar facilities in Europe and the United States
Record of environmental excellence – Sithe Energies’ “Independence Plant” formally endorsed by Sierra Club for improving air quality
• K Road promotes sustainable, renewable energy in Indian Country :
Create economic opportunity: fair share for Indian tribes: Indian Country is 25% of Indian/BLM total land base yet less than .25% of solar projects are on reservatins
Respect for tribal sovereignty
Protect the natural environment and reduce society’s greenhouse gas emissions
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Introduction to K Road Power
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Name Title Previous Experience
William Kriegel Chairman Chief Executive Officer
Founder and CEO of Sithe Energies, Inc.
CEO of Boston Generating, LLC
CEO of Vivendi North America
Gerrit Nicholas Managing Partner Head of North American Environmental Commodities at Goldman Sachs
Head of Development and M&A for the AES Corporation in Southern Europe
Thomas Tureen Partner Counsel, Native American Rights Fund
Chairman, Tribal Assets Management
Mark Friedland Managing Director, Development
Vice President, Corporate Planning for Sithe Energies, Inc.
Associate Director, Investment Banking with SBC Warburg
Sean Gallagher Managing Director, Government Relations
Vice President, Market Strategy and Regulatory Affairs at Tessera Solar
Director of Energy Division of California Public Utilities Commission
Ralph Grutsch Managing Director, Engineering and Construction
Executive Vice President, Operations for Sithe Energies, Inc.
Co-Founder and President, Energy Factors, Inc
Andrew Klump Managing Director, Procurement and Quality Control
Managing Director, Clean Energy Associates
VP Business Development for Trina Solar Limited
Dan O’Shea Managing Director, Development and Risk Management
Senior Vice President and General Counsel, Sithe Energies, Inc.
Associate with Latham & Watkins
David Sundstrom Managing Director,
Solar Operations President and Country Manager of AES Solar Italia
Country Manager of AES Panama
• K Road Management has decades of experience developing, constructing and operating over 20,000 MW of generation
K Road Power Management Team
Development Strategy and Project Portfolio
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● K Road targets the Southwest US due to aggressive Renewable Portfolio Standards (“RPS”)
● State-imposed RPSs require utilities to procure or generate 15% to 33% of retail electricity sales from renewable resources by certain milestone years
● Utilities will be under financial penalties from Utility Commissions if RPS is not met
● Political and social motivations are driving utilities to procure from credible developers and projects with low environmental impact
● K Road has a dual development strategy
1. Greenfield Projects on Indian Reservations
2. Acquisition of strong projects already in development
RPS in the Southwest
CA:
20% by 2010
33% by 2020
NV:
25% by 2025
AZ:
15% by 2025
CO:
30% by 2020
NM:
20% by 2020
UT:
20% by 2025
Source: Derived from data in: EEI, EIA, LBNL, PUCs, State legislative tracking services, Database of State Incentives for Renewables and Efficiency, and the Union of Concerned Scientists.
K Road Target Markets
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• Large, flat tracks of land with high solar resources and close proximity to transmission infrastructure lead to strong project economics
Project Pipeline – Over 2,000 MW in Development
NV
CA
NM AZ
TX
CO
NE
KS
OK
UT
San Franciscso
Los Angeles
San Diego
Las Vegas
Salt Lake City
Colorado Springs
Albuquerque
El Paso
Tucson
Phoenix
NV
CA
NM AZ
TX
CO
NE
KS
OK
UT
5–6 DNI
6–7 DNI
7+ DNI
NV
CA
NM AZ
TX
CO
NE
KS
OK
UT
San Franciscso
Los Angeles
San Diego
Las Vegas
Salt Lake City
Colorado Springs
Albuquerque
El Paso
Tucson
Phoenix
NV
CA
NM AZ
TX
CO
NE
KS
OK
UT
5–6 DNI
6–7 DNI
7+ DNI
Coal plant
230 kV
500 kV
San Franciscso
Los Angeles
San Diego
Las Vegas
Salt Lake City
Colorado Springs
Albuquerque
El Paso
Tucson
Phoenix
5–6 DNI
6–7 DNI
7+ DNI
Coal plant
230 kV
500 kV
MW: 400 800
5–6 DNI
6–7 DNI
7+ DNI
Coal plant
230 kV
500 kV
Advanced / late stage project
Moapa
350 MW
Strategically Located Projects
California
~1,250 MW In Development
Colorado
400 MW In Development
Nevada
~350 MW In Development
Indian Country Activity
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Moapa Site Map
● Moapa is a 350 MW project located on Moapa Band of Paiutes Reservation ~30 miles northeast of Las Vegas, NV
− Land control of over 2,000 acres
● Located on a superior site with high insolation (7.0+ DNI) and direct connection into California transmission networks
● Currently shortlisted by LADWP and entered in SCAPPA RFP process
● 2011 BLM Priority Renewable Energy Project
● Environmental and lease approval process well advanced; public meetings on DEIS last week
● Strong local support for the project from stakeholders including tribe, unions and environmental groups
● No new transmission needed to deliver power to Los Angeles or Las Vegas
● Target PPA closure in 2012
Moapa Reservation
Moapa Project
Las Vegas
NV
AZ
CA
Project Location
K Road Moapa Overview
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● Indian reservation lands offer numerous development advantages for greenfield utility-scale solar projects:
− Large land base often close to transmission and load demand
− Absence of state jurisdiction allows for efficient permitting with the Bureau of Indian Affairs as lead agency
− Economic development and employment opportunity for tribes
● K Road has strong relationships with various tribes and a first mover advantage.
● Model documentation based on respect for tribal sovereignty and anticipation of tribal needs
Moapa Map Attractive Land for Solar Development
Source: Company
Reservations Inside Load Centers
Source: National Atlas.
Arizona
Indian Reservation Fort McDowell
Salt River
Gila River
Gila Bend
Scottsdale
Mesa
Tempe
Phoenix
Indian Reservation Development Strategy
K Road Development Experience
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Plant Name Type Contract (C) / Merchant (M)
Power Pool / Country / Purchaser
Fuel Type MW Gross
Conemaugh Thermal M PJM Coal 1,711
Keystone Thermal M PJM Coal 1,711 Fayette* CT C LCRA, Texas Coal 1,640
Mystic* Thermal/CC M NEPOOL Oil / Gas 1,600 Cartagena* CC C Spain / Gas de France Gas 1,200
Independence* CC C ConEd / Niagra
Mohawk Gas 1,040
Tisza II* Thermal C Hungary / MVM Gas 920
Fore River* CC M NEPOOL Oil 800 New Boston Thermal M NEPOOL Gas/Oil 718
Wyman Thermal M NEPOOL Oil 619 Gilbert CT M PJM Gas / Oil 336
Shawville Thermal M PJM Coal 608 Mystic 7 Thermal/CC M NEPOOL Oil/Gas 575
Portland Thermal/GT M PJM Coal / Gas / Oil 571
Sayreville Thermal/GT M PJM Oil / Gas 496 Merida* CC C Mexico Gas 484
AES Puerto Rico* CT C PEPCO Coal 454
San Roque* Hydro C Nat’l Power Corp
(Philippines Utility) Water 345
COCO 1&2 CC C Thai Utility Gas 310 Titus Thermal/GT M PJM Coal / Gas / Oil 281
Werner CT M PJM Oil / Gas 252 Ichon CC C Korean Utility Gas 230
AES Hawaii* CT C Hawaiian Electric Co. Coal 200 Seward Thermal M PJM Gas 198
Glen Gardner CT M PJM Gas / Oil 184 West Midway CT M NEPOOL Gas / Oil 145
Smithfield* CC C Integral Energy Gas 162 Cardinal* CC C Ontario Hydro Gas 152
Warren Thermal/GT M PJM Coal / Gas / Oil 150
Samutprakarn CC C Thai Utility Gas 126 Tapal* Reciprocating C Karachi Electric Oil 126
Esti* Hydro C Panama Utilities Water 120
Previous Development Experience
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Plant Name Type Contract (C) / Merchant (M)
Power Pool / Country / Purchaser
Fuel Type MW Gross
Tangshan* Thermal C North China PG Coal 100
Massena* CC M NYPP Gas / Oil 86 Odgensburg* CC M NYPP Gas / Oil 83
Greeley* CC C PSCo of CO Gas 72 Hunterstown CT M PJM Gas / Oil 71
Wayne CT M PJM Oil 66 Houjie* Reciprocating C Dongguan PB Oil 66
Batavia* CC M NYPP Gas 58 Sterling* CC M NYPP Gas 58
Oxnard* CC C SCE Gas 48 Changzhou* CT C China Utility Oil 48
Mountain CT M PJM Oil 47 Tolna CT M PJM Oil 47
Naval Station* CC C SDG&E Gas 45 Cellino San Marco* Solar – PV C Italy Solar 43
Farmingham CT M NEPOOL Oil 30 North Island* CC C SDG&E Gas 37
SEGS III* Solar Thermal C SCE Solar/Gas 30 Piney* Hydro M PJM Water 28
Kenilworth* CC C GPU Gas 26
Il Tezro* Solar – PV C Italy Solar 24 Hamilton CT M PJM Oil 23
Orrtanna CT M PJM Oil 23 Shawnee CT M PJM Oil 23
Blossberg CT M PJM Gas 23 Naval Training Center* CC C SDG&E Gas 23
Feather River* Thermal C PG&E Biomass 20 Deep Creek* Hydro M PJM Water 18
Allegheny 9* Hydro C Western Pennsylvania
Power / NY State Electric and Gas Co.
Water 18
Allegheny 8* Hydro C Western Pennsylvania
Power / NY State Electric and Gas Co.
Water 14
Previous Development Experience
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Plant Name Type Contract (C) / Merchant (M)
Power Pool / Country / Purchaser
Fuel Type MW Gross
Allegheny 6 * Hydro C Western Pennsylvania
Power / NY State Electric and Gas Co.
Water 9
Bypass* Hydro C Idaho Power Water 10
Allegheny 5* Hydro C Western Pennsylvania
Power / NY State Electric and Gas Co.
Water 10
Hazleton* Hydro C Idaho Power Water 9
Francavilla* Solar – PV C Italy Solar 8 Torchiarolo* Solar – PV C Italy Solar 8
Soemina* Solar – PV C Italy Solar 7 Rock Creek* Hydro C PG&E Water 4
Cocomeri* Solar – PV C Italy Solar 4 Montgomery Creek* Hydro C PG&E Water 3
Latina* Solar – PV C Italy Solar 3 Francofonte* Solar – PV C Italy Solar 3
Ugento* Solar – PV C Italy Solar 3 Elk Creek* Hydro C Idaho Power Water 2
Ivy River* Hydro C Carolina Power &
Light Water 1
*Developed by K Road team member. Other Facilities were acquired and operated by team member. The list above is not an exhaustive.
Previous Development Experience
Thank You www.kroadpower.com
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