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Development of Biomass Electricity Projects

Development of Biomass Electricity Projects. William S. Bulpitt, P.E. Sterling Energy Assets October 7, 2010 AWMA Conference.

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Development of Biomass Electricity Projects

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  1. Development of BiomassElectricity Projects William S. Bulpitt, P.E. Sterling Energy Assets October 7, 2010 AWMA Conference

  2. We are the largest marketer of renewable energy in North America – winning the US Department of Energy Renewable Energy Marketer of the Year award in both 2007 and 2008 We have a strong, experienced leadership team with many decades of electric utility and entrepreneurial experience We work with electricity generators – helping to qualify the facilities to sell RECs, and buying historical RECs and future RECs to remarket to our customers. We have a broad client base that includes Fortune 500 companies, universities, government agencies, and individuals We are active participants in nearly every mandated and voluntary market for RECs, Carbon credits, and energy efficiency credits (a.k.a. White Tags) Overview of Sterling Planet, Inc. 2

  3. SterlingEnergy Assets, Inc. Develops and acquires renewable generation facilities supported by power purchase agreements with utilities and/or steam sales to industrial facilities Targets opportunities to: Acquire and convert fossil generation to green generation Develop green field biomass power projects Develop industrial cogeneration projects Leverages knowledge, relationships and deal flow generated by core carbon credit and REC marketing business 3

  4. U.S. Electricity Generation by Fuel Source: EIA

  5. INTEREST IN RENEWABLESBY ELECTRIC UTILITIES Type Source: Black & Veatch

  6. Renewable Portfolio Standards www.dsireusa.org / April 2009 WA: 15% by 2020* ME: 30% by 2000 New RE: 10% by 2017 VT: (1) RE meets any increase in retail sales by 2012; (2) 20% RE & CHP by 2017 MN: 25% by 2025 (Xcel: 30% by 2020) MT: 15% by 2015 • NH: 23.8% by 2025 ND: 10% by 2015 MI: 10% + 1,100 MW by 2015* • MA: 15% by 2020+1% annual increase(Class I Renewables) OR: 25% by 2025(large utilities) 5% - 10% by 2025 (smaller utilities) SD: 10% by 2015 WI: Varies by utility; 10% by 2015 goal • NY: 24% by 2013 RI: 16% by 2020 CT: 23% by 2020 • NV: 20% by 2015* IA: 105 MW • OH: 25% by 2025† UT: 20% by 2025* • PA: 18% by 2020† IL: 25% by 2025 VA: 15% by 2025* • CO: 20% by 2020(IOUs) 10% by 2020 (co-ops & large munis)* • NJ: 22.5% by 2021 CA: 20% by 2010 • MD: 20% by 2022 • MO: 15% by 2021 • AZ: 15% by 2025 • DE: 20% by 2019* • NC: 12.5% by 2021(IOUs) 10% by 2018 (co-ops & munis) • DC: 20% by 2020 • NM: 20% by 2020(IOUs) • 10% by 2020 (co-ops) TX: 5,880 MW by 2015 28 states & DChave an RPS 5 states have goals HI: 20% by 2020 State renewable portfolio standard Minimum solar or customer-sited requirement * State renewable portfolio goal Extra credit for solar or customer-sited renewables † Solar water heating eligible Includes separate tier of non-renewable alternative resources

  7. RECENT POWER PLANT COST DATA Source: IEA

  8. Mills And • Power Plants • In Georgia Source: Georgia Forestry Commission

  9. Agricultural wood resource underutilized 18+ million green tons unused southern pine available per year (sustainable) ~730 million gallons ethanol equivalent ~20% of GA’s gasoline use Southern Pine Resource Source: Georgia Forestry Commission

  10. FORESTRY BIOMASS - USA Source: USDA

  11. TOTAL BIOMASS AVAILABILITY - USA Source: USDA

  12. Project Overview – Project ASoutheastern U.S. • Existing fully integrated Pulp & Paper Mill • Mill Vintage – 1951 • Motivation • Aging power plant facilities • State Renewable Energy Standards • Adequate Wood Supply

  13. Project A (Cont’d) • Steam Supply to Mill – 350,000 lb/hr • Electricity to offtaker – 46.5 MW @ 115 KV • Electrical & Thermal RECs to Offtaker • Operations – Existing Mill Personnel • Wood Supply – managed by Mill • Permitting – New stand alone permit • Financing – Equity and Institution Loans • Stand Alone Capability

  14. Source: Babcock & Wilcox

  15. Project Overview – Project B • Existing Integrated Pulp & Paper Mill • Mill Vintage – 1929 • Motivation • Need for Power Plant improvements • State Renewable Energy Standards • Adequate local wood supply

  16. Project B (Cont’d) • Steam Production – 250,000 lb/hr • Turbine/Generator addition – 24 MW • Upgraded emission control equipment • Operations by Mill Personnel • Sale of RECs to Offtaker

  17. Biomass Project Issues • Renewable Energy Standards • Power Purchase Agreements • Perception of Biomass • Fuel Risks • Biomass Definitions

  18. Thank You • bbulpitt@sterlingplanet.com • 678-325-7106

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