AWEA Wind Power
Finance & Investment Workshop
March 27 - 28, 2007
Hilton San Francisco Financial District
San Francisco, CA
Program Agenda
Program Chairperson
Ed Feo, Partner, Milbank, Tweed, Hadley & McCloy LLP
6:00 pm - 8:00 pm
Registration Opens
Location: Grand Ballroom Lobby
7:30 am
Registration Opens & Continental Breakfast
Breakfasts Sponsored by Suzlon Wind Energy Corporation
Location: Grand Ballroom Lobby
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8:30 am -9:00 am
Welcome & Acknowledgement of Sponsors
Ed Zaelke, Partner, Chadbourne & Parke LLP /
President, American Wind Energy Association (AWEA) Board
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9:00 am -9:45 am
Introduction & Overview: The Future of Wind Energy Financing
Financing Wind – finding common ground
“What’s different, what’s the same?”
- Technology
- Wind vs solar, biomass and other renewables;
wind vs fossil fuel
- Venture Capital
- Private Capital
- Tax Equity
- Traditional Debt
- Section 42 Affordable housing financing
- Long term financing: Merchant vs. PPA
Ed Feo, Partner, Milbank, Tweed, Hadley & McCloy LLP
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9:45 am - 10:45 am
Legislative Update
The latest doings on Capitol Hill
• Implications of the Change in Congress
• Long-term extension of the Production Tax Credit
• Federal and State Renewable Portfolio Standards
• Climate Change Legislation
• Wind Energy Research and Development at the Department of Energy
• Small Wind System Policies
Speaker: Aaron Severn, Legislative Representative, American Wind Energy Association
Renewable Portfolio Standards – Western States
A significant industry driver
“State mandated, so I can pass this through to the rate-payers – right?”
- The genesis of the State RPS system
- Current requirements in the Western States
- The view of the:
- State Energy Commissions
- State Public Utilities Commissions
- State Consumer Advocates
- The National RPS – possible?
- All about Munis and Co-ops
- Jurisdictions and Requirements
- Clean Renewable Energy Bonds
Speaker: Ryan Wiser, Scientist, Lawrence Berkeley National Laboratory
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10:45 am – 11:15 am
Break
Sponsored by Suzlon Wind Energy Corporation
Location: Grand Ballroom Lobby
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11:15 am - 11:45 am
Keynote Address:
Steve Larson, Executive Director, California Public Utilities Commission
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11:45 am – 1:15 pm
Lunch
Sponsored by Chadbourne & Parke LLP
Location: Columbus Rooms
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1:15 pm - 2:00 pm
Siting Issues in the Western States
Of Birds, Bats & Bees
“We have the interest and the cash – but, (1) where do we build,
and (2) how do we get the power to market?”
- The latest in siting issues in the Western States.
- Lessons from the Altamont
- Land use trends and projections
- Transmissions plans for the Western States
- Western Governors’ Association participation
- Lines in the planning stages
- Bottlenecks and other restrictions
Speaker: Hilary Foote, Project Manager, Horizon Wind Energy
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2:00 pm - 2:45 pm
Environmental Issues Update
The advent of carbon regulation – the pricing of externalities
“I have to pay how much for an allowance?”
- Current state/consortium carbon models
- History of EPA models
- Current proposals
- Pricing models
- European pricing
- Various price models
Speaker: Jason Patrick, Greenhouse Gas Broker Evolution Markets, Inc.
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2:45 pm - 3:00 pm
Utilities and Wind Power
Working with Utilities on Wind Power
- Changing Utility Roles in Wind Power
- Transmission Issues
Speaker: Jeff Anthony, Manager - Utility Programs and Policy, American Wind Energy Association
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3:00 pm – 3:30 pm
Break
Sponsored by Suzlon Wind Energy Corporation
Location: Grand Ballroom Lobby
______________________________________________________________
3:30 pm - 5:00 pm
Challenges of Wind Resource Risk
State-of-the-Art & Science
“Hey! My land is windy as hell! Now what?”
- A look at resource assessment
- Underperformance – root causes
- Resource vs. turbines
- Long-term oscillations
- Simply missing the mark?
- Mitigation
Speaker: Mark Ahlstrom, CEO, WindLogics Inc.
Wind Forecasting
The key to operational success
“Low wind tomorrow – get all work crews on site!”
- The advances in wind forecasting capability
- Week ahead
- Day ahead
- Hour ahead
- What the control room operator gets from the monitoring stations
- How the operator uses real-time information
Speaker: John Zack, Principal, AWS Truewind, LLC
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Networking Reception
Sponsored by Suzlon Wind Energy Corporation
Immediately following the program for an hour
Location: Columbus and Pine Rooms
______________________________________________________________________
7:30am - 8:30am
Registration Opens & Continental Breakfast
Location: Grand Ballroom Lobby
______________________________________________________________________
8:30 am - 8:45 am
Daily Summary & Outlook
Program Chairperson, Ed Feo, Partner, Milbank, Tweed,
Hadley & McCloy LLP
______________________________________________________________________
8:45am - 9:30am
Turbine Technology
The big picture on size, cost and O&M
“So what’s the optimal turbine size and what’s it cost to maintain?”
- Turbine technology and size
- The size/cost trade-off
- Practical size limitations
- Design concepts may change the game
- O&M Costs
- Impact of turbine and project size
- Uncertainties
- Risk Mitigation
Speaker: Robert Z Poore, President, Global Energy Concepts, LLC
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9:30 am - 10:00 am
Tax Update
Speaker: Keith Martin, Partner, Project Finance Group,
Chadbourne & Parke LLP
_____________________________________________________________________
10:00 am - 10:30 am
Break
Location: Grand Ballroom Lobby
_____________________________________________________________________
10:30 am - 11:00 am
Rating Agencies
The view from the top
"Is wind, 'positive for credit quality'?"
- Wind’s position among renewable energy technologies
- Debt imputation
- Impact of the application of externalities to fossil-fired generation
Speaker: Anne Selting, Associate Director, Standard & Poor’s
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11:00 am - 11:45 am
Debt Panel
- Current market terms
- Market pricing
- Trends to watch
- Turbine financing
- Project development financing
Moderator: Jeffrey Chester, Partner, Kaye Scholer LLP
Panelists:
Thomas Emmons, Senior Vice President , HSH Nordbank AG, New York Branch
Gisela Kroess, Director, Global Structured and Project Finance, HVB Group - HypoVereinsbank
Christopher Stolarski , Senior Vice President, Mizuho Corporate Bank Ltd
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11:45 am – 12:00 pm
Public Relations & Outreach
- Media Relations
- Wind Energy Works! coalition
- Getting the most out of wind power's good news
Speaker: Susan Williams Sloan, American Wind Energy Association
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12:00 pm - 1:00 pm
Lunch
Sponsored by Stoel Rives LLP
Location: Columbus Rooms
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1:15 pm - 2:00 pm
Equity Panel
Panels of institutional investors will compare notes about their experiences in the market, including reaction to the IRS hold on further rulings in partnership flip deals, returns, their views of wind risk and key issues in deals.
Moderator: Ed Zaelke, Partner, Chadbourne & Parke LLP
Panelists:
John Eber, Managing Director-Energy Investments,
JPMorgan Capital Corporation
Robert Sternthal, Director, Credit Suisse
Lance Markowitz, Union Bank
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2:00 pm - 2:45 pm
Mergers & Acquisition Panel
The moderator will outline the normal cycle that leads to periodic flurry
of M&A activity in a sector and how that should be viewed from the long-term
perspective. A panel will focus on the key decision points relative to entity
evaluation, upside & downside of consolidations, and the number of players
likely to participate in the current M&A cycle.
Moderator: Ed Feo, Partner, Milbank, Tweed, Hadley & McCloy LLP
Panelists:
Thomas Amis, Partner, Alston & Bird, LLP
Tamir Druz, Senior Consultant, Towers Perrin
Emeka Ngwube, Managing Director, Credit Suisse
Florian Zerhusen , Managing Director, Windkraft Nord USA, Inc
____________________________________________________________
2:45 pm - 3:00 pm
Wrap-up Session with Questions & Answers
Program Chairperson, Ed Feo, Partner, Milbank, Tweed, Hadley & McCloy LLP
____________________________________________________________
Program subject to change without notice.
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