r jGREEN t ™ POWER Bf PARTNERSHIP" Aligning Green Power Partners with New Renewable Energy Projects Pilot Project Summary Please return the completed summary via email to Blaine Collison, Green Power Partnership Director, collison.blaine@epa.gov / 202-343-9139 Project Name: West Pemberton and Jacobstown I Developer Name: Community Energy Solar Renewable Energy Type: Solar Total Planned Megawatt (MW) Size: 5 MW and 7MW Phase I: Phase II: Project Location: North and Central NJ Is the project permitted?: Yes If not, what is the permit status?: What is the status of the project's site?: Sites are construction-ready Have land leases been filed with the county?: Yes. What is the status of interconnection, and have system impact and facility studies been completed? (Distribution or transmission level projects are both eligible): Interconnect approved and ready. ------- 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. Completed and approved. What is the status of the Environmental Impact Statement?: All environmental permits are approved. Is any element of the project - technology or other - experimental or pilot-phase?: No. What is the long- and short-term operations program of the project? Does the renewable energy technology manufacturer have a technical support team locally available?: Nothing contracted or set in stone. Given the simplicity of solar and the amount of solar operating in NJ, there is no reason to believe maintenance and operations should pose challenges. For wind projects, has a meteorological tower been installed? If yes, when was the tower installed and how much data has been collected?: Who has analyzed the data and what is that person's experience with respect to projects that have actually been financed?: Can the turbine manufacturer be financed through "traditional" tax equity and debt in the U.S.?: Provide a short summary of how you view project finance and structure/ownership: Project is ultimately financed through a sale/leaseback structure or sold to a large balance sheet holder of solar assets like a utility or utility parent. What are your ideal types of prospective institutions/partners?: Large user of electricity in New Jersey (preferably) or Eastern PA with strong credit. Entity takes a long- term view (10 years+) of its place in the region and sees the value in hedging against the risk of electricity prices rising in the future. What is the intended off-take for the renewable power with respect to bundled or unbundled products and is there a preference? The market for Solar Renewable Energy Credits (SRECs) in NJ is strong enough to enable project financing with the SRECs and the power being sold separately. There are a number of parties looking at the SRECs from these projects. A contract on the electricity is the missing ingredient. We can replace the Solar RECs with NJ Wind RECs or National Wind RECs at significantly lower cost than the Solar RECs. ------- |