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HomeMy WebLinkAboutSummit Ridge Energy (2) 7-7 `14--��' �?�r-.'•,r.C..., mss ^: : -rye •,ti+� .s --a �,- �- _ r s _�. _a - �,��_-.0 RON Southold Landfill RFP 1.y Solar an • Battery Storag - Bid Interview Summit Ridge Energy August A44k, Summa Ridge Energy — Your Experienced Renewable Energy Partner SUMMIT RIDGE ENERGY SRE is an experienced solar and energy storage developer based in Arlington, VA with offices in New York City and Chicago. Founded in 2017, the company is managed by industry veterans and has become one of the fastest growing community solar developers, quickly surpassing many established organizations. Proven Development Access to Capital Local Team with Full Battery Track Record Storage Capabilities In 2019, SRE structured a Since its launch in 2017, through joint venture partnership SRE has more than 40 full-time self-development and acquisition with Hannon-Armstrong employees covering engineering, efforts, SRE has amassed a portfolio Sustainable Infrastructure sales, development, construction of over 300 MW of community solar (NYSE: HASI), called management, and finance. SRE is projects and 150 MWh of battery Summit Ridge Capital, to developing numerous battery storage projects in multiple U.S. finance its community solar storage projects on the North Fork markets. It is now expanding its portfolio in targeted U.S. of Long Island and has offices in development of stand-alone energy markets. New York City storage projects in NY. CONFIDENTIAL-DO NOT REPRODUCE OR REDISTRIBUTE Landfill Solar Development Expertise Ake.. SUMMIT RIDGE FNF€; Y SRE has extensive experience developing solar on former landfill sites: its team has developed and financed numerous municipal solid waste fills in Massachusetts in former roles, and the Panorama rubble landfill in Prince George's County, Maryland. Sullivan's Ledge Town of Webster Hobomock Street EPA Superfund Landfill Landfill Thatcher Street Landfill • Landfill Landfill System Size 1.75 MW 1.797 MW 2.70 MW 4.698 MW 6.60 MW System Type Ground mount, ballasted Ground mount, ballasted Ground mount, ballasted Ground mount, ballasted Ground mount, pile-driven Location New Bedford, MA Webster, MA Pembroke, MA Brockton, MA Fort Washington, MD Landfill Type Remediated EPA Municipal Solid Waste Municipal Solid Waste Municipal Solid Waste Rubble (Type III) Superfund Site Co-Developer and SRE Role Financier Co-Developer and Financier Developer Developer Co-Developer Year 2015 2015 2017 2017 2019 Completed Landfill Reference (pictured at right): Scott Durkee City of New Bedford, MA Scott.Durkee@newbedford-ma.gov •_ 3 Recent Summit Ridge Energy Solar Projects Ake..SUMMIT RIDGE FNF€; Y FultonDogwood and • • Court • 11 Sheriff ' • . • Y It �+ tr �.• t S r� J}� ..ii' > �." - - " ff.'s-.-'tea- LL ,,... '4- r r - , , 'K jr f ' # r - ` w 's—'yam ' ' -s',!" ". - .y-��. ti- '^•' r' 2.7 MW IL community solar 3.8 MW MD community solar 1 .1 MW MD roof-mounted project; first to achieve project in BGE territory community solar project energization in Ameren territory (November 2019) (August 2020) (June 2020) 4 Summit Ridge Energy Development Approach Due Diligence: attention to detail and thoroughness Transparency: SRE will be an honest, reliable partner for the Town in realizing its - . renewable energy goals " "= Problem-solving: SRE understands the complexity of developing a landfill solar array and has a track record of troubleshooting to get over hurdles Long Term Owner-Operator: we finance Community Solar through our fund, Summit Ridge Capital, and serve as the owner/operator for the system's useful life. You will only have one company to deal with — not a chain of handoffs and new faces. 5 CommunitySolar 101 A�4k SUMMIT RID r FNERGY BILL Credit F Low Off-site solar arrays are built on land or rooftops leased by Summit Ridge; lessor su collects rental income Solar SUPPLY energy unchanged Each subscriber executes an agreement IX-1 with Summit Ridge to purchase solar bill credits SoLar Bill Credits Solar bill credits are delivered by local utilities as monetarycredits to offset Payments to Summit Ridge customer bill charges ENERGY By aggregating systems across SAVINGS multiple markets, SRE provides thousands of customers with monthlyE. electricity savings 6 How We Designed the Solar and Batter Storage System Ake..Y Y SUMMIT RIDGE FNF€; Y • Real Design: Topology map was provided by Town's Engineer L.K. McLean Associates. SRE not proposing installing on slopes above 10%. SRE vetted its design with its racking company, Solar Flex Rack. We can build the system as proposed. • No Disturbance: Our design avoids the waste and mulching activities on site — minimal disturbance to the Town • Landfill Integrity: SRE will coordinate with the New York State Department of Environmental Conservation and its engineer to ensure the system does not impact landfill cap or venting system • Utility: Vetted interconnection with PSEG-LI with pre-application report received on 1 /23/2020 • Maximize Energy Production: SRE uses bifacial solar modules and a battery storage system to maximize production and maximize rent for the Town • Low-Risk: SRE proposal does not depend on a web of incentives and aggressive assumptions. We are confident with our bid and can deliver the same rent payment even if Long Island's battery storage incentives disappear Solar System Design Ake..Y SUMMIT RIDGE FNF€; Y Baasted soar Array- 3, 500 kWac 4,857 kWdc r # I oil r . z W go OP Pim + .. d . !4 t 8 Solar System Design Ake..Y SUMMIT RIDGE FNF€; Y Baasted Racking Examp es t av- A►YL �.y p.l .(i� p -Tidy `��,c '�+ � � t 9 Battery Storage System Design Ake.. SUMMIT RIDGE FNF€; Y DC-Coup ed Battery Storage System : 1 MW 4 MWh • Battery is charged 100% by the solar array and "firms" the output of the solar system • Battery storage is located in a shipping container placed off of the landfill cap • Enclosure built to National Fire �� Protection Act (NFPA) and UL 1741 standards and will include fire detection and suppression equipment • SRE to choose a technology vendor with ice_ a track record in NYS and an investment- jW grade warranty L 11+k+k l4' 14 M. ' • SRE is currently developing battery storage systems in Southold, Brookhaven and Riverhead 10 Summit Ridge EnergyOffer Ake.. SUMMIT RIDGE FNF€; Y 35-year Option to Lease Agreement Option Payment $ 81000 / year Option Period 2 years Land Lease Rate $ 3351000 / year Annual Escalator 1 .5 % Lease Term 25 years with two 5-year extensions 35-Year Cumulative Lease Revenue $ 15,273,349 11 Next Steps Upon Award & Timeline .4k SUMMIT RIDGE FNF€; Y SPE wiH move quick y to ock in incentives _ , Submit for interconnection As " ' � 'Ask " As with PSEG-LI Submit designs to NYSDEC and _ Southold _ Negotiate Planning Board Option to Lease Once permits agreement with and the PSEG-LI the Town Agreement is in-hand, SIRE can reserve NYSERDA incentives PSEG-LI has not committed to renewing the 5 cent/kWh Community Credit beyond 2020. If we move quickly, we can lock this in — it is a crucial incentive for the project 12 Thank You ! Contact info- WIH info- WIFischer, Vice President , -- wfischer@srenergy.com 646-979-7066 100 Church Street, Suite 800 New York, NY 10007 doff f .011 AA64.. 1-& .0 t SUI'-1MI- RID�.E