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First Wind Steve Vavrik Vice President, Origination May 9, 2008. Table of Contents. First Wind Overview (formerly UPC Wind) Projects. First wind overview. We are an Independent North American Wind Energy Company. Unique Strategy.
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First Wind Steve Vavrik Vice President, Origination May 9, 2008
Table of Contents • First Wind Overview (formerly UPC Wind) • Projects
We are an Independent North American Wind Energy Company Unique Strategy • Develop to own model that includes: - Disciplined, regional focus - Focus on the most profitable projects - Significant head start in terms of site acquisition in our key markets Exceptional Management • Ability to act quickly and more decisively than our competition • Significant industry experience (17 years on average among the senior team) • Expertise to execute all aspects of business Proven Results • 274 MW operating and under construction • 637 MW advanced development • Consistent and reliable access to capital: $1.8 billion raised to date
Our Key Development Areas Share High Energy Prices, Robust RPS, Tight Supply, Carbon Upside West • CA demand for green energy is the highest in the U.S. • Shrinking reserve margins Northeast • High energy prices • Shrinking reserve margins • Highest REC prices in U.S. Hawaii • Highest energy prices in U.S. • Oil dominated electricity and transport sectors • Aggressive transformation of current paradigm
Breadth of Expertise with a Deep and Committed Management Team • 17 years of relevant management experience on average • 119 total employees CEO(1) • Operations (42) • COO (1) • Commodity / RM (2) • Plant / Site Managers (9) • SCADA (2) • Met Field (8) • Biologists (4) • Reporting (1) • Admin (10) • IT (4) • Interns (1) • Development (36) • Developers (14) • Land (3) • Communications (1) • Strategy & Planning (1) • Transmission (1) • Meteorology (4) • Community (4) • Permitting (6) • Admin (2) • Engineering & Construction (14) • SVP (1) • Project Manager (7) • Contracts (1) • O&M Liaison (1) • Field Managers (3) • Construction Accountant (1) • Legal (5) • General Counsel (1) • Associate General Counsel (2) • Paralegal (2) • Finance (18) • CFO (1) • Accounting (14) • Finance (3) • HR (3) • Director (1) • HR (2)
Kaheawa • 30 MW • Maui, HI • COD June 2006 • First Habitat Conservation Plan for a wind farm
Mars Hill • 42 MW • Mars Hill, Maine (Aroostook County) • 28 GE turbines • COD March 2007 • Largest in New England • RECs to New England RPS markets
Steel Winds • 20 MW • Lackawanna, NY • Superfund site • COD June 2007 • Eight Clipper turbines
Cohocton • 125 MW • Cohocton, NY80 miles south of Rochester • 50 Clipper turbines • Under construction
Stetson • 57 MW • Washington County, Maine, 70 miles north of Bangor • 38 GE turbines • 35-mile 115 kV transmission line
First Wind 85 Wells Ave. Newton, MA 02459 617-964-3340 svavrik@firstwind.com