SEPA
GREEN
POWER
PARTNERSHIP"
Aligning Green Power Partners with New Renewable Energy Projects
Pilot Project Summary
Project Name: PortTownsend Cogen
Developer Name: Sterling Energy Assets, Inc.
Contact Information: Tim Swanson, tswanson@sterlingplanet.com
Renewable Energy Type: Biomass Cogen
Total Planned Megawatt (MW) Size: 24 MWs
Project Location: Port Townsend, WA (Port Townsend Paper Co. mill)
Is the project permitted?: Yes
If not, what is the permit status?: N/A.
What is the status of the project's site?: Leased from Paper Mill
Have land leases been filed with the county?: No
What is the status of interconnection, and have system impact and facility studies been completed?
(Distribution or transmission level projects are both eligible): Electric Interconnection applied for;
studies are pending.
Does the transmission owner (TO) or independent system operator (ISO) have a process to study the
project's impact on the local or regional grid and the subsequent cost to interconnect?: Yes.
What is the status of the Environmental Impact Statement?: Not required for permitting.
Is any element of the project - technology or other - experimental or pilot-phase?: Technology - No.
What is the long- and short-term operations program of the project? Base load generation with
steam supply to paper mill. Does the renewable energy technology manufacturer have a technical
support team locally available?: Yes.
For wind projects, has a meteorological tower been installed? N/A
If yes, when was the tower installed and how much data has been collected?: N/A

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Who has analyzed the data and what is that person's experience with respect to projects that have
actually been financed?: N/A. SEA has over 50 years' experience in the development and financing
of renewable energy and conventional energy plants.
Can the turbine manufacturer be financed through "traditional" tax equity and debt in the U.S.?: Yes
Provide a short summary of how you view project finance and structure/ownership: Traditional
project finance debt, SEA/Port Townsend Paper Co ownership. Could utilize a REC participation
funding tranche if electricity sale is unbundled RECs.
What are your ideal types of prospective institutions/partners?: Investors seeking long -term, low
risk distributions. Companies wishing to participate in long-term REC arrangements. Life insurance
companies for first mortgage bonds (taxable and tax exempt).
What is the intended off-take for the renewable power with respect to bundled or unbundled
products and is there a preference? Preferred bundled; may be unbundled in this case.

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