Kumeyaay, California
Kumeyaay commenced operations on 23 December 2005 with a total installed capacity of 50MW and an expected net energy output of 164.6GWh per annum. The wind farm consists of 25 Gamesa 2.00 MW wind turbines and is located in California. The net capacity factor is 37.6%.
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Funding
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Debt that was drawn to fund construction of the wind farm was repaid at the start of the commercial operations. At that time equity was fully funded by a combination of “active” investors (known as the Class B members) and “passive” investors (known as the Class A members)
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Revenue
assurance
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All electricity is sold under a long term off take contract with a term of 20 years from the start of operations
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Customers
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San Diego Gas & Electric
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Operation
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Operations and maintenance contract for 5 year term with Gamesa
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Land
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Land leases with 25 year terms with option to extend for 5 years
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IFN’s
percentage
ownership
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100% of Class B membership interests
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Regulatory
regime
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USA Production Tax Credits
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Returns to
Security Holders
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Class B member entitlements for US assets are outlined in the IPO Prospectus and Product Disclosure Statement, dated 26 September 2005.
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