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As of May 2003

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As of May 2003

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  1. __________________________________Recent Activities of the Massachusetts Renewable Energy Trust:Building Renewable Energy Projects through the Massachusetts Green Power Partnership____________________________________________Francis Cummings, Policy DirectorMassachusetts Renewable Energy TrustMassachusetts Electric Restructuring Roundtable June 13, 2003

  2. As of May 2003

  3. RET budget surplus has been allocated to support:___________________________________________ • New renewable capacity • Green Power Partnership (REC purchase solicitation) • Predevelopment and Development activities • Renewable energy technology industry • Green Energy Fund, Econ. Development, and SEED Funds • A viable market for distributed generation • Solar-to-market, premium power • Green buildings, green schools • Consumer Choice • Facilitation of utility Green choice (a.k.a. Checkoff) programs • Education and Public Awareness • Collaborative processes • DG Collaborative

  4. Supply and Demand Objectives(MRET Strategic Direction Statement)___________________________________________________________________ • Shift electric energy consumption in Massachusetts away from conventional energy resources to a greater reliance on energy generated from renewable resources. • Increase electric generating capacity from renewable resources to meet the growing energy demands of consumers in Massachusetts while also encouraging the adoption of energy efficiency measures.

  5. MRET Recent Activities to Spur Supply & Demand____________________________________________ 1) Supply Side: MA Green Power Partnership Solicitation • MTC offers a “tool kit” of long-term financial arrangements to facilitate the financing of new renewable generating projects: • REC Purchase Agreements (RPA) • Put/Collar Option Contracts. • MTC solicits proposals from: • New generators (developers), and • Power marketers or other purchasers of energy and/or RECs. • MTC will manage and shed risks, to release/recycle commitments of funds for future rounds of solicitations. 2) Demand Side: Utility Green Checkoff Program (green pricing)

  6. Details of MA GPP Solicitation, Round 1____________________________________ • Available Funding (Round 1): $20m • Eligible: • New renewables (new construction or incremental) • RPS-eligible technologies, plus hydro • RECs sold to MA customers (facility built in New Eng.) • Evaluation Criteria • Economic and non-economic • High likelihood of commercial operation by 12/31/05 • Bidder’s conference: June 18 (next Wed!) • Proposals due: September 10, 2003 • Next Steps: Round 2: $10m in first half of 2004

  7. Questions: Francis Cummings, RET Policy Director cummings@masstech.org Massachusetts Renewable Energy Trust 75 North Drive Westborough, MA 01581-3340 tel: (508) 870-0312 fax: (508) 898-9226 http://www.masstech.org/

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