Combine Hills, Oregon
Combine Hills commenced full operations in December 2003 with a total installed capacity of 41 MW, an expected net energy output of 119.6 GWh per annum and a net capacity factor of 33.3%. Combine Hills consists of 41 MHI MWT 1000A-1.0MW wind turbines. It is located in the State of Oregon. Electricity generated from Combine Hills is transmitted to PacifiCorp.
|
|
|
Funding
|
Debt that was drawn to fund construction of the wind farm was repaid at the start of commercial operations. At that time equity was fully funded (and there is no project debt financing) by a combination of “active” investors (known as the Class B Members) and “passive” investors (known as the Class A Members)
|
|
Revenue
assurance
|
All electricity is sold under a long term offtake contract with a term of 20 years1
|
|
Customers
|
PacifiCorp
|
|
Construction
|
Fixed price turnkey engineering, procurement and construction contract with Wind Energy Constructors, LLC and a fixed price turbine and tower supply contract with Mitsubishi Power Systems Inc. (“MPS”)
|
|
Operation
|
Full commercial operations commenced in December 2003
Turbine operations and maintenance contract for a 5 year1 term with MPS and a BOP operations and maintenance contract for a 2 year1 term (with an 8 year extension option) with Renewable Management Corporation
|
|
Land
|
Land leases with 60 year1 tenure with an option to extend year-to-year thereafter
|
|
IFN’s
percentage
ownership
|
80% of 50% Class B Membership interests
Remaining 50% Class B Membership held by Eurus Energy America Corp
|
|
Regulatory
regime
|
USA Production Tax Credits
|
|
Notes:
1.from 2003