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Empire Ranch. Boulevard, San Diego County, California. Contact: Jim Stinnett Lanz Correia CA BRE # 01870563 CA BRE # 01883404 2850Womble Rd Suite 102 San Diego CA 92106
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Empire Ranch Boulevard, San Diego County, California Contact: Jim Stinnett Lanz Correia CA BRE # 01870563 CA BRE # 01883404 2850Womble Rd Suite 102 San Diego CA 92106 D 619.654.0331 D 619.564.6355 O 619.269.2266 x 1725 O 619.269.2266 x 1731 Stinnettsales@cox.netlcorreia@correiagroup.com
STATEMENT OF CONFIDENTIALITY & DISCLAIMER THIS DOCUMENT CONTAINS CONFIDENTIAL, PROPRIETARY INFORMATION. YOUR REVIEW OF THIS DOCUMENT CONSTITUTES YOUR AGREEMENT TO KEEP ALL SUCH INFORMATION CONFIDENTIAL, TO USE THE INFORMATION SOLELY IN CONNECTION WITH A PURCHASE OF ALL OR PART OF EMPIRE RANCH (THE “PROPERTY”) FROMLANSING COMPANIES (“SELLER”), AND NOT TO REPRODUCE, REDISTRIBUTE OR OTHERWISE DISCLOSE ITS CONTENTS TO ANY PERSON OR ENTITY. YOU FURTHER AGREE TO PROMPTLY RETURN THE ATTACHED UPON REQUEST FROM SPONSOR. THE INFORMATION IN THIS DOCUMENT REPRESENTS THE SELLER’S CURRENT ESTIMATES AND ASSESSMENTS IN CONNECTION WITH THE PROPERTY. ACTUAL EVENTS AND CONDITIONS MAY DIFFER MATERIALLY FROM THE SELLER’S ESTIMATES AND ASSESSMENTS. ADDITIONALLY, THE ASSUMPTIONS UTILIZED BY THE SELLER IN PREPARING THE INFORMATION MAY DIFFER MATERIALLY FROM ACTUAL EVENTS. THERE CAN BE NO ASSURANCE THAT THE ESTIMATES AND ASSESSMENTS WILL REPRESENT AN ACCURATE REFLECTION OF LOCAL OR NATIONAL ECONOMIC CONDITIONS, ACTUAL EVENTS, OR ACTUAL INVESTMENT PERFORMANCE. THIS CONFIDENTIAL MEMORANDUM HAS BEEN PREPARED FROM INFORMATION PROVIDED BY THE SELLER. IT DOES NOT PURPORT TO BE ALL-INCLUSIVE OR TO CONTAIN ALL OF THE INFORMATION PROVIDED BY THE SELLER. IT DOES NOT PURPORT TO BE ALL INCLUSIVE OR TO CONTAIN ALL OF THE INFORMATION THAT A PROSPECTIVE BUYER MAY DESIRE. THE SELLER DOES NOT MAKE ANY REPRESENTATION OR WARRANTY, EXPRESSED OR IMPLIED, AS TO THE ACCURACY OR COMPLETENESS OF THIS CONFIDENTIAL MEMORANDUM OR ANY OF ITS CONTENTS, AND NO LEGAL LIABILITY IS ASSUMED OR TO BE IMPLIED, BY ANY OF THE AFOREMENTIONED WITH RESPECT THERETO. THIS MEMORANDUM HAS BEEN PREPARED SOLELY FOR INFORMATIONAL PURPOSES TO ASSIST AN INTERESTED PARTY IN DETERMINING WHETHER TO PROCEED WITH AN IN-DEPTH INVESTIGATION OF THIS INVESTMENT OPPORTUNITY. THE SELLER RESERVES THE RIGHT AT THEIR SOLE DISCRETION TO REJECT ANY OR ALL PROPOSALS OR EXPRESSIONS OF INTEREST IN THIS INVESTMENT OPPORTUNITY AND TO TERMINATE DISCUSSIONS WITH ANY PARTY AT ANY TIME WITH OR WITHOUT NOTICE. IF YOU DO NOT WISH TO PURSUE THIS MATTER, KINDLY RETURN THIS CONFIDENTIAL MEMORANDUM TO THE SELLER AT YOUR EARLIEST POSSIBLE CONVENIENCE. PHOTOCOPYING OR OTHER DUPLICATION IS NOT AUTHORIZED.
TABLE OF CONTENTS • EXECUTIVE SUMMARY • Empire Ranch Summary • PROPERTY OVERVIEW • General Overview Map • Transmission Upgrades • Area Transmission Map • MARKET OVERVIEW • Market Growth • Proposed Projects – Boulevard • Wind & Solar Grid Integration • SITE PHOTOS
EXECUTIVE SUMMARY EMPIRE RANCH SUMMARY Location: The subject site is located in eastern San Diego County south of Interstate 8 off the Ribbonwood Road Exit. The property is situated 1 mile south of Old Highway 80 extending south to the US – Mexico border. Municipality: Unincorporated San Diego County APN’s: Multiple Acreage: Approximately 4518 gross acres Zoning: General Rural General Plan: Rural Lands 80 Topography: Elevation ranges from 3400 to 4100 feet, the site consists of flat areas along with hilly terrain. Preliminary topographic analysis at a 5% slope shows approximately 444 acres of potential land for solar PV development in two portions of this 4,518 acre property. These areas would require some additional grading work. Property Condition: Unimproved Purchase Price: 15-17 million Comments: Eastern San Diego County is experiencing unprecedented growth in utility scale wind and solar energy installations. The State of California has mandated in Senate bill X1-2 that 33% of the energy produce in California come from renewable resources including wind, geothermal, & solar by the year 2020. Eastern San Diego County has been targeted by wind and solar energy developers due to the high concentration of wind and solar resources and proximity to the high load areas of coastal Southern California.
PROPERTY OVERVIEW TRANSMISSION UPGRADES • SDG&E is currently in the final permitting stage of the East County Substation/Tule Wind/Energia Sierra Juarez Gen-Tie Projects. The Final EIR was posted in October, 2011. • As proposed by SDG&E, the ECO Substation Project includes the following major components: • Construction of a 500/230/138 kV substation in southeastern San Diego County (ECO Substation) • Construction of the SWPL loop-in, a short loop-in of the existing SWPL transmission line to the proposed ECO Substation • Construction of a 138 kV transmission line, approximately 13.3 miles in length, running between the proposed ECO Substation and the rebuilt Boulevard Substation • Rebuild of the existing Boulevard Substation. Source: East County Substation/Tule Wind/Energia Sierra Juarez Gen-Tie Projects Final EIR, October 2011
PROPERTY OVERVIEW TRANSMISSION UPGRADES, ECO Substation The proposed ECO Substation Project would provide an interconnection hub for renewable generation along SDG&E’s existing Southwest Powerlink (SWPL) 500-kilovolt (kV) transmission line. In addition to accommodating the region’s planned renewable generation, the project would also provide a second source for the southeastern 69 kV transmission system that avoids the vulnerability of common structure outages, which would increase the reliability of electrical service for Boulevard, Jacumba, and surrounding communities. The proposed project would provide interconnection capability at three voltage levels (500 kV, 230 kV, and 138 kV), which would provide renewable generators the option to connect at a voltage level that is appropriately sized for their project. Source: East County Substation/Tule Wind/Energia Sierra Juarez Gen-Tie Projects Final EIR, October, 2011
PROPERTY OVERVIEW TRANSMISSION UPGRADES, Boulevard Substation Rebuild • The existing Boulevard Substation is located south of I-8 within the unincorporated community of Boulevard, approximately 9 miles northwest of the proposed ECO Substation Site (Figure B-2B, Vicinity/Overview Map). Old Highway 80 is located just north of the site. As proposed, the rebuilt Boulevard Substation would be located immediately east of the existing substation on a 8.5-acre parcel recently acquired by SDG&E • The substation would be designed so that the ultimate configuration would include the following: • Two sections of 138 kV low-profile radial buses with six line positions, three transformer positions, one capacitor position, and a bus-tie • One 138/69 kV transformer • Two 138/12 kV transformers • Two bays of 69 kV standard-profile switch racks with four line positions and one transformer position • Two quarter section 12 kV switchgears • Four 12 kV capacitors • One control shelter. Source: East County Substation/Tule Wind/Energia Sierra Juarez Gen-Tie Projects Final EIR, October, 2011
MARKET OVERVIEW MARKET GROWTH – Wind and Solar Since 2005, wind and solar PV has seen significant growth year after year. As seen in the charts below, wind and solar PV’s compounded annual growth rate (“CAGR”) were 34% and 76% from 2005-2010, respectively. Researchers indicate approximately 22,800 MWs of additional wind capacity and approximately 8,000 MWs of additional solar PV capacity to be installed from 2011 to 2013.
MARKET OVERVIEW PROPOSED PROJECTS - Boulevard • LanWest & LanEast Solar Farm CPV: Located immediately south of Interstate 8 and adjacent to the Boulevard Substation. One of the few renewable energy projects located on private land in the area. • The Tule Wind Project: Located in the In-Ko-Pah Mountains near the McCain Valley in southeastern San Diego County. • The Campo Wind Project: Located south of the Tule Wind Project and west of the Boulevard Substation on the Campo Indian Reservation. • Manzanita Wind Project: Located on the same ridgeline as the existing Kumeyaay Wind facility. • Jewel Valley Wind Project: Located on private land along Ribbonwood Road, north of Interstate 8.
MARKET OVERVIEW WIND & SOLAR GENERATION GRID INTEGRATION • Solar energy generation complements areas of high wind output to help reliably manage intermittency of renewable resources on grid operations. • The average daily profiles reveal several general trends with regard to the relationship between load, wind, and solar output: • • At the footprint level, wind output is generally falling during the early‐morning hours when load is rising most rapidly and tends to recover or flatten later in the morning. However, this inverse‐phase relationship is not as strong during the summer as in other seasons. • • The solar output complements the load as expected. It is either rising or at its peak around noon when the load is high, and rolls off in the late afternoon. Source: Western Wind & Solar Integration Study, GE Energy, Prepared for NREL, May 2010
FOR ADDITIONAL INFORMATION Contact: Jim Stinnett Lanz Correia CA BRE # 01870563 CA BRE # 01883404 2850Womble Rd Suite 102 San Diego CA 92106 D 619.654.0331 D 619.564.6355 O 619.269.2266 x 1725 O 619.269.2266 x 1731 Stinnettsales@cox.netlcorreia@correiagroup.com
