SFS Energy Finance Americas (“SFS EF AM”) requests approval to commit $45 million to Broken Bow Wind LLC’s (“Broken Bow” or the “Borrower”) 15 -year Senior Secured Term Loan (the “Term Loan”) of $64 million. The proceeds from the Term Loan will be used to recapitalize the Borrower, including the refinancing of the existing Term Loan. The proposed transaction will increase the existing Term Loan to $64.0 million from the currently outstanding amount of about $46 million. The remainder of the proceeds will be used to distribute dividends to the equity investors and pay for the transaction fee. SFS EF AM did not participate in the original financing. The Project Sponsor is NRG Energy, Inc. (“NRG” or the “Sponsor”) (Ba3/BB-; SFS Equivalent rating …show more content…
The OMA renews automatically for a term of one year or until terminated by either party based on predefined termination rights. Currently, The WTGs are maintained by GE, the turbine manufacturer, under a five-year Turbine Maintenance Agreement (the “TMA”) ending in April 2017. The energy output forecast is based on the updated wind resource assessment and incorporates the actual wind resource data from the Project site. The historical average energy output was moderately higher than the new energy P-50 energy output forecast.
The IE has opined that the project has performed well since the Commercial Operating Date (“COD”). The average annual energy output through 2015 was about 310.8 GWhs with the plant availability factor of 98.7% and the capacity utilization of about 43.8%. The P50 exceedance level output under the new wind study is about 298 GWhs and a capacity factor of about 42.5%. The analyst notes that the historical operating performance was moderately stronger than the forecast and reflects a robust wind regime, equipment quality, and the strength of operating and maintenance regime.
The output from the Project is sold to NPPD (A+/A1/A+; SFS Equivalent of 3+). The PPAs will end in 2032. The PPA is extendable by 5 years at the option of the
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The IE has opined that the Project should perform at the current level if the good maintenance and the operating practices are followed. GE maintains the WTGs under the TMA. The agreement will end in November 2017 if not renewed. GE charges $27,000/turbine (increasing by 2% annually after year 1). The replaced parts are guaranteed for one year from the date of replacement. The targeted availability factor is 97%. RENOM maintains and operates the balance of the plant under the operating and maintenance agreement (the “OMA”) amended and restated on February 13, 2012. The OMA is for an initial period of five years and will renew automatically for one year on the expiry of the original agreement in 2017. RENOM charges a fixed price of $349,000 or $6,980/turbine for the BOP maintenance. The IE has opined that these costs are in line with the industry averages. The risk is assessed as “Neutral/Standard”. Historically, the availability factor has been strong – 98.7%. The IE has opined that the availability factor will remain over 98% at least through 2017 and beyond if the Borrower follows good operating and maintenance practices. The GE TMA is ending in 2017. There have been no major component failures needing complete replacements at the Project to
Strengths: Market Leadership: Onshore Nordex continued to maintain its position amongst the top three original equipment manufacturers (OEMs) in EMEA and other focus markets. According to the Global Wind Energy Council (GWEC) and European Wind Energy Association (EWEA), the company in some of the focus markets particularly including Ireland, the company had market share of 47%, followed by Finland (40%) and Turkey (20%). In South Africa, Nordex was one of the top four OEMs, with a market share of 20%. In Uruguay the company had a market share of 14% and market leader in Pakistan with a market share of 66%. In Germany, the company 's market share stood at 9%, France, Sweden and the UK with 10%. Such market leadership enables the company become preferred solution provider for new and existing customers. Strong Order Intake The company continued to report increase in its order intake in FY2015. During the year, the company 's turbine order intake amounted to EUR2,470.9 million, reflecting an increase of 40.9% over EUR1,753.9 million in FY2014. EMEA accounted for 91% of the company 's total intake, followed by Americas with 9%. The N117/2400 was the top selling products for low-wind areas with a share of 45% of total turbines sold. With sales of 186 units (2014: 164 units), the efficient IEC3 turbine was particularly successful in Germany but was also sold for projects in Finland, France, Italy, Lithuania, Turkey and the US. The Generation Delta turbines also started up
Although we were a little more focused on shooting par this past weekend rather than the company, our recent meeting regarding the issue of maximizing energy efficiency has interested me into researching wind turbines and other sustainable practices. As a manager and colleague, I believe it is not in the company’s best interest investing into wind turbines at this time and also due to Carbondale’s low average wind speed. However, I believe there are alternative energy-saving options that could be implemented to lessen Groggs peak energy
Herein will begin with an overview and introduction from personal knowledge of DixieLands Glory, LLC; a small family owned and operated business for the purpose of owning and managing rental properties. The company was initially operated as Warf’s Rentals; in 2003 the business was renamed and incorporated to become DixieLands Glory, LLC. The business is operated from a small office located in the family’s home, which is located in Linden, Tennessee. DixieLands Glory owns, operate, and manage approximately eighty-five rental units ranging from single-family homes to 4-plexes and mobile home parks. The properties that the company owns are mostly located in the states of Tennessee and Alabama. Of this, about 50 percent are located in the family’s hometown of Linden, Tennessee, with the remainder being located in two other Tennessee counties, and Decatur, Alabama.
The case involving Birch & Davis International, Inc., and Warren M. Christopher, the United States Secretary of State was decided on September 13th, 1993. The case involved procurement procedures conducted by the Agency of International Development (Open Jurist). The issue centered on exclusion of bids made by Birch & Davis International, Inc. Birch challenged the exclusion to the General Services Administration Board of Contract Appeals and they decided that the actions taken by the agency were fair. The case got to the Federal level when Birch appealed the decision by the board.
Finally, in the six year as the factory is complete the new clean energy factory will be fully running and handling all the manufacturing need of GEL motors, meanwhile, the original factory will be closed.
At Guillien Van Nuland LLC, you will find experienced attorneys who take a compassionate approach to working through divorce and family law issues. Located in La Crosse, WI, the firm serves clients in Monroe, Vernon, Trempealeau, Juneau, and Buffalo counties in Wisconsin, as well as those in Houston and Winona counties in Minnesota.
A total of 350 wind turbine units has been delivered to BP projects that when in operation will have a combined power generation of 560 MW
Plaintiff applied for a position as a truck driver with Landstar Trucking Company. Landstar is headquartered in Jacksonville, Florida. Landstar indicated to the plaintiff that he would be hired once it received a background report from Usher Transport. The background report indicated he had tested positive for a controlled substance in the last three years and had been arrested on the job. The plaintiff should have known that his actions will be brought to light once he tried to get employment later. He can not sue his former employer for reporting his actions during his time employed with the company. Defamation is the publication of a statement by one person about another that damages his reputation. So his former employer did not use any
Depending on how much additional investment needed and what will be the payback period. Another cash flow statement will be needed for further reviewing to decide whether additional funding will be a good
This contract provides additional generators to support Zone 6. RFI from ARCENT CRRB - Can DCA funding option to be explored prior to OMA usage. In which, Ms. Sutton from ASG RM has confirmed this requirement is projected on ASG-KU spend plan and is not approved for DCA Funding. If there is additional RFIs please, reply to all so that this requirement is not on-hold because this will further delay Rock Island executing this
The turbine is able to generate energy 24 hours a day, 7 days a week. While the resort may not use all of the electricity that the turbine generates, the excess electricity can be diverted to the power grid and sold resulting in additional money for the resort (approximately $161,000/year).
The goals highlight the vision and mission statement of the company. GE’s plan with this new company is to show the world they are the new innovation in green energy through normal daily routines. For the satisfactory outcome of the company the strategic objectives and goals should be monitored on a daily basis. The company will set its objective, as well as start down a path to be followed while keeping in mind the values and interest of the customers without fail. There will be a tool or set of measurements which may be used to measure the targets, public interest, share value in the market, and budget in hand. In the company’s strategic planning, the surveys will be done constantly so they will be able to change daily to critique their new company to the desires of the customers. GE will be providing excessive financial aid to this company to constantly monitor and aggressively attack the market with this new product through marketing, distribution, and any other means necessary. These turbines will make paying for energy easier on every customer who desires lower bills. GE feels that with this new product, all it will take is for the first customer to experience the difference they can make in attacking inflation.
We are facing an energy crisis on Earth. Burning fossil fuels are harming the atmosphere; this global warming and affects produces chemicals that hurt our body. People are starting to think about using alternative energy. Wind power would be our first choice, because it’s clean, inexhaustible and renewable. Today, wind power is mainly used in Europe. We believed wind power would be the main source of alternative energy for world use.
“Worldwide, hydropower facilities possess a significant amount of installed electric generating capacity. IEA statistics indicate that at the end of 2001 there was in excess of 450,000 MW of installed capacity within IEA member countries, with about half in Europe and half in North America. In addition to conventional hydropower, there is more than 80,000 MW of installed pumped-hydro capacity in IEA countries. In contrast, utility-scale wind power is relatively new in the electric market, but increasing rapidly” (Integration of Wind and Hydropower Systems)
Journal: R Billinton, D Huang, 2010, ‘Wind power modelling and the determination of capacity credit in an electric power system’, Proceedings of the Instituition of Mechanical Engineers, Part O: Journal of Risk and Reliability, pp. 1-9, viewed on September 12, 2011, retrieved from: http://pio.sagepub.com/content/224/1/1