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HomeMy WebLinkAboutAppendix 5 - Summit Power SOQ                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  1  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     Experience and Qualifications Founded in the early 1990s, Summit is a privately held, value-added full scope power project development firm. Leading the Summit team is a group of highly experienced energy industry professionals with an extensive network of relationships and deep knowledge of the energy industry in the United States and abroad. Through this leadership, Summit has established a remarkable track record of successfully leading the development of large electricity generation projects. Summit has led or had significant involvement in the successful development of over 7,000 megawatts of power projects representing over $9 billion in current dollars in investment and has over a thousand megawatts of additional generation currently in development or under construction. Summit’s primary business consists of leading the development of large electricity generation projects on a success fee basis. Through various project-specific subsidiaries, Summit is active in the development of wind, natural gas, coal gasification with carbon capture and solar generation projects. Each Summit project is led by the Summit principals and staffed on a selective basis from Summit’s deep bench of resources on a consulting and success-fee basis. In this manner, Summit is able to tailor a team specific to the needs of the project, thereby providing the best expertise at the lowest cost. In addition to its traditional project work, on a highly selective basis, Summit also consults on new energy technologies and other matters with potential for energy application. Summit handles projects from first conception through the entire process of feasibility analysis, permitting, financing, design, procurement, construction and commissioning. Summit also conceptualizes and negotiates or assists in negotiations for arrangements regarding (i) long-term operation and maintenance (up to 20 years) of power plants, (ii) fuel supplies, (iii) electrical transmission and (iv) sale of the power or project capability. Summit typically obtains full fixed-price agreements with extensive warranties, including fixed-price, long-term operation and maintenance, all backed by superior financial credit. Characteristic of Summit’s approach is its ability to find creative solutions, move quickly, resolve issues amicably, ensure that local communities and governments are comfortable and supportive, keep costs to a minimum and significantly minimize risks. Summit has had a remarkable record of overseeing the commercialization of plants on time and at or under budget, and these projects are operating in accordance with, or exceeding, design expectations.                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  2  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     Summit Value-Add Broad development expertise. Summit’s development experience covers power resources across the energy spectrum. • Natural Gas: Summit has been involved in the development of more than 6,000 megawatts of combined and simple cycle natural gas generation projects. • Wind: Summit has developed or had a significant development role in more than 700 megawatts of wind projects that are either successfully operating or under construction with scheduled commercial operation dates ranging from 2009 to 2011. In addition, Summit is developing an additional 1000 megawatts of wind resources expected to come online by the end of 2011. The White Creek wind project, which achieved commercial operation in 2007, used a financing structure pioneered by Summit that was acknowledged by Project Finance magazine as “runner up” for deal of the year in 2007, particularly because it effectively financed a project using only tax equity and a tax exempt pre-pay for power. • Solar: Summit has teamed with the REC Group in forming NorthLight Power, LLC to work with utilities and other large-scale solar energy users to develop and finance reliable, low cost solar resources. • IGCC with CCS: Summit is developing two utility scale IGCC projects in Montana and Texas. The Texas project, known as the Texas Clean Energy Project (www.texascleanenergyproject.com), received a total of $450 million in grant award from the Department of Energy under its Clean Coal Power Initiative program (Round 3), marking the largest grant awarded under the Obama administration to date. • UCG: Summit is developing surface facilities for underground coal gasification projects through a relationship with the leading UGC technology provider in North America. Environmentally responsible development. Summit has a reputation for environmentally responsible power project development that introduces new products to the market to minimize environmental impacts and incorporate value-added structures. Efficient success. Summit has a remarkable record of completing plant development on time and at or under budget and all operating plants are performing at or exceeding expectations.                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  3  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     Meeting client needs. Summit clients include electric utilities, industrial customers and private entities that want project ownership but rely on Summit’s development capabilities and experience. Summit is capable and comfortable working in a variety of roles, ranging from full scope turnkey development to targeted narrow scope of responsibility. Summit can lead the development team or be a valuable player on a larger team. For each project, Summit customizes its scope and resources to fit with the key priorities and staff capabilities of the customer. All of the services set forth below can be provided singly or as part of a complex scope. Summit also can be engaged on a phased basis in the case of projects that are early stage and require feasibility studies. Development. Summit provides full development services from land acquisition, permitting, entitlement acquisition, regulatory filings and so on. Marketing. Summit has established and current relationships with many utilities in a variety of regions of the country, but particularly in the western United States. Summit has current market knowledge of pricing and deal terms. Finance. Summit has the knowledge, experience and contacts necessary to think creatively about financing opportunities and complete the lowest cost financing arrangements for wind and solar. For example, Summit pioneered its White Creek wind model, which used a financing structure acknowledged as “runner up” for deal of the year in 2007, particularly because it effectively financed a project using only tax equity and a tax- exempt pre-pay for power. In general, Summit’s value proposition is to take and manage developer/owner-type risks in large-scale power projects but to accomplish this role without burdening the project with the requirement and cost of Summit owning an equity share of developed projects. This results in full scope project development being completed at low “non-equity rates.” This allows Summit to work for public power and IOUs without requiring a return on equity component in its fees and with owners of projects who do not want to share equity returns or already have a minority equity partner (this is becoming a common scenario in the market place). Operations & Maintenance Experience. Summit’s development experience includes operations capability – including serving as operations                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  4  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     manager – and the fulfillment of tax and reporting responsibilities. Summit currently has operations responsibility for the 205 MW White Creek wind energy facility in South Central Washington State. The project achieved commercial operation in November 2007 and consists of 89 Siemens 2.5 MW wind turbine generators. The project has 20-year energy purchase agreements with four public utilities and two electric cooperatives. Under Summit’s operations management, the White Creek wind project has operated for eighteen months and achieved commercial availability of more than ninety-six percent (96%) with operating costs below development modeling. Summit also was recently involved in the development of the 100 MW Harvest Wind Project with similar owners as White Creek. Summit is the Asset Manager of the Harvest Wind Project, which commenced commercial operation in December 2009. Key Relationships Siemens. Because of the large number of projects it has successfully developed utilizing Siemens equipment, Summit is among the top tier of power technology customers for Siemens in North America. Summit’s long-standing relationship with Siemens allows it to negotiate prime customer (most favorable) terms on equipment and EPC services across all product lines, including wind. In addition, Summit’s gasification projects are Siemens’s lead gasification projects in North America. Utility Buyers (IOUs/Publics). Summit has relationships with many IOUs and publics along multiple lines, including development relationships, power sales and gas management relationships, financing engagements, equipment supply relationships and operations relationships. Summit enjoys excellent credibility with its utility customer base and has an excellent reputation as a “cost-based” supplier of projects on a build and transfer (BT) basis. Environmental Organizations. Summit has a reputation nationally and locally for environmentally responsible power project development as well as deep governmental and NGO relationships. Summit speaks and is published regularly relating to environmentally progressive energy development. Summit is nationally known for its expertise in carbon related matters.                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  5  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     CH2M Hill Engineering. Summit has developed with CH2M Hill a model for gas project development, contracting and construction that optimizes low cost, risk mitigation for the owner, quality and speed to market. Summit also is working with CH2 on wind projects. Financial Community. Summit has an excellent relationship with the financial community and has pioneered innovative approaches to finance, including the White Creek wind project financing. In addition, Summit’s advisory relationship with Merrill Lynch allows it to bring significant experience in the arranging and structuring of construction debt and equity investments, long term take-out financing and the structuring and issuance of taxable or tax-exempt bonds. Summit Biographies Donald Paul Hodel, J.D., is Chairman and Senior Vice President for Strategy and Policy. Mr. Hodel founded the predecessor companies to Summit in early 1989. Mr. Hodel served as the Under Secretary (sub-Cabinet post) of the U.S. Department of the Interior (1981-1982), Secretary (Cabinet Minister) of the U.S. Department of Energy (1982-1985) and later Secretary (Cabinet Minister) of the U.S. Department of the Interior (1985- 1988). He was the Chairman of the U.S. Critical Materials Council (1985-1988). Mr. Hodel previously served as President of the North American Electric Reliability Council (“NERC”) (1978-1980) and is currently on the Board of Directors of NERC. He has served as the Administrator (Chief Executive Officer) of the Bonneville Power Administration (a large U.S. government-owned electric utility) from 1972 through 1977. Mr. Hodel has served on the Boards of Directors of several publicly traded and privately held companies, numerous public foundations and institutes. Mr. Hodel was formerly on the Board of, and later on the Advisory Council of, the Electric Power Research Institute (“EPRI”) and the World Energy Congress. Earl Gjelde, P.E., is Chief Executive Officer of Summit. Mr. Gjelde was the Under (now called “Deputy”) Secretary (sub-Cabinet Post) and Chief Operating Officer of the U.S. Department of the Interior (1985-1989), the Chief of Staff and Chief Operating Officer for the U.S. Department of Energy (1982-1985), and the Deputy Administrator (Chief Operating Officer) of the Bonneville Power Administration. He served as Chief of Staff for the U.S. Critical Materials Counsel (1985-1988), as special envoy for President Reagan to China (1987) and as the Deputy Chief of Mission for the US-Japan Science and Technology Treaty negotiations (1986-1988). Mr. Gjelde is on the Board of Directors of the U.S. Energy Association and U.S. World Energy Congress with extensive activities throughout the world, AMEN Properties (a publicly traded energy                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  6  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     and office complex company), and the National Wilderness Institute. He has served as a director on the Boards of CIGRE (an international high-voltage transmission organization), the World Energy Congress, and the Electric Power Research Institute (EPRI). He was an officer of Waste Management, Inc., then the world’s largest environmental services company, and the President and CEO of several of its subsidiaries (1989-1992). Eric Redman, J.D., is President of Summit and former chair of the Energy Practice Group at a major U.S. and international law firm. He works extensively on all of Summit’s coal gasification efforts, as well as other new technologies. He has worked as a leader on coal gasification, carbon capture, and other climate related technologies since 2001. He works closely with the Clean Air Task Force and several other national environmental groups on a variety of climate matters, and leads Summit’s participation in carbon sequestration partnerships and development of coal gasification abroad. Mr. Redman founded his former law firm’s Energy Practice Group in 1983 and its Clean Energy Technology Practice. Mr. Redman works closely with a number of advanced gasification technology companies on matters related to technology commercialization and finance. He works with Laurus Energy and its technology provider Ergo Exergy on underground coal gasification (also known as in situ coal gasification) in Canada and the United States. Mr. Redman is a frequent speaker and author on coal gasification, carbon management, and climate matters. Mr. Redman began his career as a legislative assistant to the late U.S. Senator Warren G. Magnuson (D-WA) and wrote “The Dance of Legislation,” a best-selling account of Congressional enactment of the National Health Service Corps. He was educated at Harvard College, Oxford University (as a Rhodes Scholar), and Harvard Law School. He was chosen for Best Lawyers in America for energy matters in 2007, 2008, and 2009. Thomas Cameron is Executive Vice President, Projects. Mr. Cameron has 25 years of experience in the power industry and has held positions in a variety of disciplines. Prior to joining Summit, Mr. Cameron had his own consulting and development company and was a partner in several other development ventures. Mr. Cameron was responsible for leading development activities for several natural gas fired simple cycle and combined cycle facilities including Mountain Home, a 170 MW simple cycle peaking facility, Blythe Energy 1, a 520 MW combined cycle facility, Blythe Energy 2, a 580 MW combined cycle facility, Lake Side 1, a 543 MW combined cycle facility, Summit Westward, a 520 MW combined cycle facility and the Cliffs Project, a 300 MW combined cycle facility. Prior to this, Mr. Cameron was employed by Siemens Power Corporation and held assignments as Project Manager in charge of design, procurement,                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  7  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     equipment manufacturing, construction, and commissioning of several large gas turbine power projects. Mr. Cameron holds a BS in Engineering from the University of Maine. Heather Redman, J.D., is Senior Vice President, Operations and Legal, of Summit. Ms. Redman handles all legal and administrative matters including the legal aspects of project financing and corporate structure matters. Ms. Redman serves on several boards of directors and boards of advisors of high technology companies. Ms. Redman has extensive experience in mergers and acquisitions, finance and corporate strategy. Ms. Redman held the position of Executive and Senior Vice President at each of AtomShockwave, Inc., Getty Images, Inc., and PhotoDisc, Inc., with responsibility for mergers and acquisitions and financings (including both public offerings of debt and equity and private financings). She led the negotiations for the successful sale of these companies and negotiated many acquisitions on the buy side while at Getty and AtomShockwave. At Getty (which was dual-headquartered in London and Seattle), Ms. Redman worked extensively outside of the United States. In addition, Ms. Redman has been responsible for substantial operational groups, including all product acquisitions at Atom, and acted as COO at Atom. Ms. Redman has served on the Board of Directors of the Washington Software Alliance and the Washington Biotechnology and Biomedical Association. Ms. Redman holds a law degree (with distinction) from Stanford University and practiced law prior to joining industry. Eric Gjelde, P.E., is Senior Vice President, Finance, of Summit, and the principal shareholder of Meridian Northwest, Ltd. (1993 to present), which manages investments. Mr. Gjelde is responsible for Summit’s financial management, local government and community relations, land acquisition, and local services, including new power plant site development. Mr. Gjelde has been an owner of and has separately held senior management positions in commercial real estate development, asset management and financial management worldwide. He was principal officer/shareholder of three privately held real estate consulting, development, brokerage and investment firms that acted as managing general partners for properties totaling 1,190,000 square feet and $160 million in acquisition cost. Under his direction, these firms performed asset and property management for 1,320,000 square feet of retail, office and industrial property and participated in commercial real estate joint venture development with major Japanese banks and trading companies. He was asset manager for the Carpenters’ Union retirement fund of Hawaii. Mr. Gjelde also owned and managed a heavy equipment company in California and a John Deere Agricultural Equipment Company in Idaho. He has extensive experience in commercial investing, brokerage, financing, development, asset and property management, general and financial management in the heavy equipment sector and in providing financial management services.                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  8  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     Jeff Brown is Vice President, Project Finance. Most recently, Mr. Brown was a Managing Director at Merrill Lynch, where his role included managing the Pacific Northwest office as a senior investment banker. He has significant experience with energy project financing and brings 26 years of project finance and capital market experience in the United States and internationally. Prior to Merrill Lynch, Mr. Brown had entered the finance arena at Goldman Sachs. Between the two firms he has spent years in the fixed income (taxable and tax-exempt bond financing and debt management) area of investment banking, focusing heavily on electric utilities and natural gas projects. He spent 4 years in municipal utility finance in New York, working on large joint action agencies projects such as Intermountain Power Project (IPP Units 1 and 2), FMPA (St. Lucie nuclear) and Modesto Irrigation District (Geysers Geothermal Project). He also covered major municipal systems such as SMUD, Nashville and Tallahassee. He spent 5 years on the taxable bond capital markets underwriting desk in New York covering the southern United States including gas pipelines such as Texas Eastern and SONAT and producers such as Shell, Anadarko and EOG. For most of the last 13 years Jeff was a municipal investment banker in Seattle where he senior managed energy clients including AIDEA (coal), Alaska Energy Authority (hydro), Wyoming Pipeline Authority (gas transmission), State of Alaska (advisory on Alaska gas pipeline), City of Spokane (RDF waste-to-energy), Western Generation (industrial co-generation IPP), Energy Northwest and Bonneville Power Administration (nuclear refinancing and transmission), the City of Portland (attempted acquisition of Portland General Electric from Enron) and Alaska Electric Light & Power (IOU serving Juneau). During the period 1999 to 2001 Mr. Brown headed Goldman Sachs’ Hong Kong capital markets practice for leveraged finance, project finance, and acquisition finance. During that time he was an advisor to the Qatar National Petroleum Corporation and structured the first Chinese water project financing to access the international capital markets. Mr. Brown began his career as Legislative Assistant to U.S. Congressman Jim Weaver, where he was responsible for activities pertaining to Federal Power Marketing Agencies, including BPA, TVA and WAPA. Mr. Brown holds an A.B. (with honors) in Economics from Harvard College and an M.B.A. (with distinction) from Harvard Graduate School of Business. As an investment banker he held registrations under NASD (Series 7, 56 and 63). Chris J. Brookhouse is Vice President of International Development for Summit Power. Based in London, Chris leads the company’s efforts to develop large, clean-energy projects from Europe to the Middle East and Asia. His more than 20 years of experience include senior management positions at Texaco, BG Group, Invensys, CEO of Harvest Energy Limited, and most recently Managing Director at Blue Ocean Associates. Over                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  9  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     his career, Chris has successfully developed and financed in excess of $2 billion in power and technology-based projects in Europe and Asia. In addition, he has managed a vast number of up- and down-stream business units within the energy sector, such as energy production including biofuel production, fuel delivery and storage, and the opening of new retail markets. He has earned advanced degrees in economics and operational research from the University of Birmingham, U.K. Richard W. Burkhardt, CPA, is Chief Financial Officer and Vice President, Corporate Finance for Summit. Prior to joining Summit, Mr. Burkhardt held the position Director, Domestic Income Tax for Starbucks Coffee Company, a vertically integrated roaster and retailer of specialty coffee through its stores around the world. He was a senior leader in the tax department and responsible for the domestic income tax function including tax planning, tax accounting for the worldwide operations and federal, state and local income tax compliance. Mr. Burkhardt joined Starbucks Coffee Company in 1994 and worked in a variety of roles in the tax department. He was instrumental in facilitating tax structuring and consulting for the Company’s domestic merger and acquisition activity. Mr. Burkhardt received his BA in Business Administration from University of Washington in 1990 and his Master of Taxation from University of Denver in 1991. He is a Certified Public Accountant in the State of Washington and a member of the Washington State Society of CPA’s. Kelly F. Goodman, Kelly F. Goodman, J.D., is Vice President and General Counsel. Ms. Goodman manages legal matters for Summit and handles various commercial relationships across Summit’s project disciplines. She has experience handling agreements related to project off-take, financing and asset transfer, among others. Ms. Goodman also handles issues related to carbon management and related benefits for Summit's projects. Ms. Goodman has collaborated with industry environmental groups, including co-authoring a chapter in a Clean Air Task Force industry report entitled Coal Without Carbon. Prior to joining Summit, she practiced law at a major international law firm. Her legal experience includes advisement to public companies and corporate boards regarding securities and corporate litigation and investigatory matters in addition to work within the firm's energy practice group. Ms. Goodman holds a law degree from the University of Washington School of Law (with high honors) and a B.A. from Santa Clara University (phi beta kappa). Karl E. Mattes is Vice President and Director of Projects for Summit. Mr. Mattes has more than 25 years of experience in the power industry and has held positions in a variety of disciplines. Most recently, Mr. Mattes was the Combustion Turbine Business Segment                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  10  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     Manager for a major integrated service provider. In this position, Mr. Mattes was responsible for all aspects of combustion turbine repairs and service, including facility planning and implementation, repair development, business development, project management, and industry presentation of technical repairs related to operation and maintenance. Prior to this position, Mr. Mattes was employed as the Project Director for numerous turnkey combined cycle projects including Chouteau, St. Francis 2 and St. Francis 1 (all Summit projects), with a total capacity of over 1000 MW using the Siemens technology. Mr. Mattes also was Project Director for other turnkey combined cycle and cogeneration projects in California, New York, Virginia and other U.S. locations. In these positions, Mr. Mattes handled design, procurement, equipment manufacturing, construction and commissioning. During execution of these projects, Mr. Mattes’ responsibilities included project management, cost and schedule control, technical and commercial contract negotiations, selection and schedule control, technical and commercial contract negotiations, selection and coordination of vendors, engineering firms, and erection contractors, supervision of engineering and site staff, preparation of bid specifications, coordination of construction management, startup coordination and customer interfaces. Shawn Nichols, is a Vice President at Summit and brings more than 20 years of experience in the energy industry including asset acquisitions and divestitures, business development, contract negotiations, fuel transportation, gas supply, power origination and regulatory proceedings impacting existing power generation plants and the development of new transmission facilities. Throughout his career in the power sector, Mr. Nichols has been involved in numerous structured transactions totaling more than 5,000 MW across various regions including ERCOT, SERC and WECC. Deals range from 3 months to 30 years and include fixed priced power sales, full requirements, heat rate call options, gas-fired tolling agreements and coal-fired power purchase agreements. Currently, Mr. Nichols is engaged in power development activities for various opportunities throughout the United States with a primary focus in the Midwest. Mr. Nichols received a Bachelor of Business Administration in Finance from Oklahoma State University and a Master of Business Administration from Baylor University. Dana Zentz is Vice President of Summit and has over 25 years of active involvement in the energy industry with management roles in supply, marketing and project development. He founded and managed Inland Energy Consulting, Inc., which assisted utilities, independent power producers and energy merchant firms with strategic and commercial matters related to power and natural gas supplies and energy project management. Prior to Inland Energy Consulting, Mr. Zentz was Director of Business Development for National Fuel Marketing Company, a Rockies based natural gas                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  11  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     production and marketing firm. He also served as Strategic Director of western markets for Williams Energy Marketing and Trading. Mr. Zentz worked for over 15 years in electric, gas and telecommunications utility operations at Avista Corporation in Spokane, Washington, advancing to Vice President of Wholesale Energy Marketing. During his tenure, Avista Energy grew to become one of the top 15 U.S. energy merchant firms. Mr. Zentz has many years of experience in wholesale natural gas and power markets in the U.S. and Western Canada. His experience includes pricing, structuring, and negotiation of numerous long and short term natural gas and power supply agreements; development of strategic plans for energy firms; management of generation project development; construction/administration of utility energy resource procurement processes; analysis and evaluation of energy projects employing both traditional and renewable generation technology; evaluation and mitigation of financial risk associated with energy supplies; and development of natural gas, wind & IGCC projects. Recently he has been active in development of wind and utility scale solar generation projects and has assisted with contracts for off-take, asset sales and financing of wind projects in the western U.S. He is a registered professional engineer in Washington and holds engineering degrees (with honors) from the University of Idaho (BSCE) and Washington State University (MSEng). Ann E. Banks is Chief Commercial Officer for Summit Power, leading all commercials arrangement relating to the development, construction and financing of the $2.1 B Texas Clean Energy Project (TCEP). TCEP is a state of the art coal gasification project that will supply power to the local network while capturing over 90% of the carbon for sequestration in Enhanced Oil Recovery operations in West Texas’ Permian Basin. Ms. Banks brings 25 years of broad experience in business development, marketing, treasury operations and accounting within startup and turnaround businesses. Ms. Banks serves as the CFO for APO Offshore, a start-up in the digital oilfield segment. Previously, Ms. Banks was Senior VP Business Development & Finance at Sindicatum Carbon Capital a private equity start-up pursuing greenhouse gas reduction and renewable energy project. During her nine years with Calpine Ms. Banks served in many roles with her greatest success being the successful development of two gas fired combines cycle power plants totaling $845 MM in capital expenditures. While at Koch Industries, Ms. Banks led an asset acquisition team. Ms. Banks began her career at Amoco and during her 13 years she served in strategic planning, treasury, management, accounting and development roles as she moved from the oil & gas industry to power generation. Her international business development experience includes Argentina, Brazil, China, Romania and Venezuela. Ms. Banks holds a MBA from Kellogg Graduate School of Management, Bachelor of Arts Degree in Accounting and is a CPA. She also serves on several non-profit boards in the Houston area.                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  12  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     Barry Cunningham is Managing Director, Project Development of Summit. Mr. Cunningham has 30 years of experience in the power industry and has held positions in a variety of disciplines. Prior to joining Summit, Mr. Cunningham was Senior Vice President of Generation for PacifiCorp where he was responsible for over 8000 MW of generating assets, and all associated support functions. Mr. Cunningham’s responsibility also included re-licensing of hydroelectric projects, new generation resource development, and construction of new resources, including the Lakeside Project, a 543 MW combined cycle plant (Summit Project). Mr. Cunningham spent 17 years with PacifiCorp and 12 years with Utah Power and Light Co. where he filled roles for all aspects of the power generation including power plant operations, maintenance, training, technical support, procurement, and health and safety. Mr. Cunningham progressively moved into higher-level roles of Plant Manager at several large thermal plants, Assistant Vice President, Vice President and Senior Vice President and executive board of director member for PacifiCorp before retiring in 2006. Mr. Cunningham has a Bachelor of Arts with Honors degree from the University of Wyoming, and an Associates Degree of Science from Casper College. Chris Kirksey is Director of Projects, Texas. Prior to joining Summit, Chris Kirksey held the position of Sr. Vice President of Power Production for Austin Energy, the City of Austin’s municipally owned electric utility, where he was responsible for executive oversight of Austin Energy’s electric power generation facilities, which include nuclear, coal, and natural gas fueled plants. Mr. Kirksey joined Austin Energy in 1985 and worked in a variety of roles in generation, including engineering and plant management. He was instrumental in the planning and development of the Sand Hill Energy Center, including all phases of contract negotiation and administration for technical services, equipment procurement, and construction. Mr. Kirksey served as a director on the board of the South Texas Project Nuclear Operating Company and on the owners committees for the South Texas Project and the Fayette Power Project. Mr. Kirksey received his BS in Mechanical Engineering from Texas Tech University in 1984 and is a member of the Texas Tech Academy of Mechanical Engineers. He is a registered Professional Engineer in the state of Texas. Laura Miller, Director of Projects, Texas, joined Summit in 2008 to work on the Texas Clean Energy Project, an integrated gasification combined cycle (IGCC) project. She was most recently Mayor of Dallas from 2002 to 2007. During her tenure, she led the opposition against 18 old-technology coal plants proposed for Texas. Ms. Miller has been an advocate for coal gasification, carbon sequestration, renewables, nuclear, conservation, and energy efficiency. She also led a real estate development boom in downtown Dallas, leveraging $190 million in city financial incentives to spark $1.3                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  13  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     billion in private investment. She has extensive experience with public finance, including arranging the two largest bond packages in the history of Dallas and restructuring Dallas' pension system with pension obligation bonds. Prior to becoming Mayor, Ms. Miller was a member of the Dallas City Council. Before she began her political career, Ms. Miller was an award-winning journalist. Rand Thurgood, Ph.D., is Director, Advanced Technology, of Summit. Dr. Thurgood was Vice President of Resource Development and Construction for PacifiCorp where he was responsible for origination, development and construction of new generation resources in PacifiCorp, including the Currant Creek 525 MW combined-cycle project and the Summit Power Lakeside combined-cycle plant. Dr. Thurgood spent 26 years with PacifiCorp and was responsible for their research and development program during the 1980’s and their generation engineering program before assuming overall responsibility for their resource development work in 2000. Throughout his time at PacifiCorp, he also was involved with and led the company’s efforts in assessing the potential for new technology development and funding. He served as a member of the Western Regional Air Quality Board (1999-2000) and a Vice Chairman and member of the Executive Committee of the Utah Energy Conservation and Development Council (1991-1993). Dr. Thurgood was a Project Engineer at Oak Ridge National Laboratory responsible for a coal liquefaction program (1978-1979) and a Project Engineer for Ireco Chemicals, a slurry explosive producer (1972-1974). Dr. Thurgood received his Ph.D. in Chemical Engineering from Brigham Young University in 1979 and has published a number of articles on coal conversion research. He holds several patents in work on slurry explosive manufacturing. Specific Projects Led by Summit The following is a list of selected generating projects led by Summit in the United States over the past few years that have been completed or are currently under development. Combined Cycle Gas Turbine Projects • Bridgeport Energy Project — Connecticut: 340 MW simple cycle using Siemens V84.3a combustion turbine generator; commercial operation achieved in June 1998. Subsequently developed into 520 MW 2X1 combined cycle with Siemens V84.3a combustion turbine generator and Siemens triple pressure steam turbine generator; commercial operation in June 1999. Dual fuel capability using oil added in 2001.                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  14  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     Project was combined with modifications to existing 80 MW and 170 MW oil fired plants. • St. Francis No. 1 — Missouri: 260 MW combined cycle single shaft 1X1 using Siemens V84.3a combustion turbine generator and Siemens triple pressure steam turbine generator; commercial operation achieved in December 1999. • Choteau Project — Oklahoma: 520 MW 2X1 combined cycle with duct firing using Siemens V84.3a combustion turbine generators and Siemens triple pressure steam turbine generator with duct firing; commercial operation achieved in June 2000. • St. Francis No. 2 — Missouri: 260 MW combined cycle single shaft 1X1 using Siemens V84.3a combustion turbine generator and Siemens triple pressure steam turbine generator; commercial operation achieved in April 2001. • Griffith Energy — Arizona: 600 MW 2X1 combined cycle with heavy duct firing using GE7241FA combustion turbine generators with significant duct firing coupled to a GE triple pressure steam turbine generator; commercial operation achieved January 2002. • Chattahoochee — Georgia: 520 MW 2X1 combined cycle with duct firing using Siemens V84.3a combustion turbine generators and Siemens triple pressure steam turbine generator; commercial operation achieved in March 2003. • Blythe Energy I — CA: 520 MW 2X1 combined cycle with duct firing and inlet chillers using Siemens V84.3a combustion turbine generators and Siemens triple pressure steam turbine generator; commercial operation achieved in January 2004. • Summit/Westward — Oregon: 536 MW 2X1 combined cycle with duct firing using Siemens V84.3a combustion turbine generator and Siemens triple pressure steam turbine generator; permitted and capable of achieving commercial operation in less than two years. • Lake Side — Utah: 543 MW 2X1 combined cycle with duct firing using Siemens 501FD combustion turbine generators and Siemens triple pressure steam turbine generator; stage of final release for construction; commercial operation achieved in September 2007. • Cliffs — Washington: 300 MW 1X1 combined cycle including duct firing using Siemens V84.3a combustion turbine generator and Siemens triple pressure steam turbine                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  15  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     generator; permitted and capable of achieving commercial operation in less than two years. Simple Cycle Gas Turbine Projects: • SMARR — Georgia: 230 MW simple cycle using two Siemens Westinghouse V84.2 combustion turbines; commercial operation achieved in July 1999. • Sewell Creek — Georgia: 530 MW simple cycle using two Siemens Westinghouse V84.2 combustion turbine generators (230 MW) and two Siemens Westinghouse V84.3 combustion turbine generators (300 MW); commercial operation achieved in June 2000. • Pleasant Valley Station — Minnesota: 340 MW simple cycle using two Siemens Westinghouse V84.3a combustion turbine generators with capability to convert to combined cycle; commercial operation achieved in April 2001. • Holden — Missouri: 345 MW simple cycle using three Siemens Westinghouse V84.2 combustion turbine generators, dual fuel capable; commercial operation achieved in February 2001. Coal Gasification with Carbon Capture • IGCC/SNG project in early stages of development using Siemens gasification technology and Siemens STG6-5000F gas turbines in a combined cycle configuration. • Texas Clean Energy Project. Received the largest Department of Energy grant to date under the Obama administration, through a $350 million Clean Coal Power Initiative (Round 3) award. The project, located just west of Odessa, Texas, will capture over 90% of its carbon for use in enhanced oil recovery and ultimate sequestration with monitoring, verification and accounting (MVA). Project is under development with FEED study preparation, process design, permitting and siting underway. The Project will deploy Siemens gasification technology and Siemens STG6-5000F gas turbines in a combined cycle configuration.                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  16  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     Wind Turbine Generators • Klondike Wind Energy Project – 24 MW Wind Farm located in the State of Washington with Phase II & III development rights up to 400 MW. Phase I entered Commercial Operation in December 2001. • White Creek Wind Project – 205 MW Wind Farm located in Klickitat County, Washington. Project is a Build Transfer Facility to be transferred to 4 Public Utility Districts upon completion. Commercial Operation achieved in Fourth Quarter 2007. • Windy Point/Windy Flats Project – 425 MW Wind Farm located in Klickitat County, WA near Goldendale. Summit acted on behalf of Cannon Power Group, the project owner/developer. Summit served as manager of WTG supply and acquisition and also as marketing agent for the Project and has been instrumental in Build Transfer transactions with Utility Buyers. Phase I COD was December 2008 and Phase II COD was October 2009. Phase III is under development. • Harvest Wind Project – 100 MW Wind Farm located in Klickitat County, Washington. Project is a Build Transfer Facility to be transferred to 4 publicly owned or customer owned utilities upon completion. Commercial Operation achieved in December 2009. • Cedar Creek Wind Project – 150 MW Wind Farm located in Bingham County, ID. Project is a joint venture between Summit and Western Energy, LLC. • LotusWorks Summit Ridge Wind – 150 MW Wind farm located in Wasco County, Oregon. Summit is acting on behalf of a third party project owner/developer as manager of WTG supply and acquisition and also as marketing agent, and financing advisor for the Project, and will be heavily involved in negotiations with Utility Buyers. • Encino Wind Project – 100 MW located in Bee and Live Oak Counties, TX.                    Summit  Power  Group,  LLC.           Summit  Power  Group,  LLC.      206-­‐780-­‐3551   83  S.  King  Street,  Suite  200  17  fax:    206-­‐780-­‐3571   Seattle,  WA    98104      CONFIDENTIAL     Utility Scale PV Solar Developments • Amargosa Solar I Project – 51 MWdc solar project sited in the Amargosa Valley of Nevada, approximately 25 miles north of Las Vegas. • North Star Solar I – 75 MW dc solar project in central California, currently contracted for long term PPA with PG&E. • Mendota Solar I – 90 MW dc solar project currently in full-scale development, sited near Fresno, CA. • Moses Lake Solar I – a 10 MW dc project under development in Grant County, Washington. • Delta Utah Solar I – a 90 MW dc project under development near Salt Lake City. • El Cerro Solar I – a 10 MW dc project under development near Albuquerque NM.