vineyard power cooperative meeting feb 2010

8/14/2019 Vineyard Power Cooperative Meeting Feb 2010

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MEETING AGENDA

Welcome

Ratification of Board, Bylaws and Past Acts

Question and Answer

Admission of Members

Vineyard Power Financial Overview

Overview of Regulatory and Siting Issues

Question and Answer


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Ted Bayne, Director 8/12David Damroth, Director 8/11Ted Danson, Director 8/11Sue Hruby, Director & Secretary 8/11Paul Pimentel, Chairman & Treasurer 8/12Susan Wasserman, Director 8/12 Richard Andre, President

Directors & Officers


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Approve What We Have DoneDirectors, Officers & StaffInitial StructureAdvisory Committee for Member

Input

By-laws to Amend in August

Ratification


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Formal Declaration to

Admit Vineyard Power

Members


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As the duly appointed and authorized Secretary of the Cooperative, I herebypresent the Board of Directors of the Cooperative with a list of the members of

the Vineyard Power Co-operative.I hereby formally admit each person whose name appears on this list as a member

of the Cooperative.

Each member is admitted with the rights and obligations of members under the

Bylaws of the Cooperative adopted by the Board of Directors. By becoming aMember of the Cooperative, each person on this list accepts the authority of eachduly appointed member of the Board of Directors and each Officer of the

Cooperative and accepts and ratifies the acts of such officers and Directors in

connection with the creation of the Cooperative.

Each member of the board of directors shall serve their terms of office until such

time as the Directors and Officers may be replaced by a vote of the Members atthe annual meeting of the Members to be held each August.

The August meeting shall be the first annual meeting of the members. At thatmeeting, the members will have the opportunity to vote on a new slate of three

directors. The members will also have the opportunity to recommend to the board

of directors amendments to the bylaws of the Cooperative.


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Richard AndreVineyard Power President


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Vineyard Power

Update

Richard Andre


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Sources ($ thousands)Membership 255Contingent Promissory Notes 74VEP Start-up Support 40

Total Income 369

Uses ($ thousands)

Payroll 168Consultants 63Communication 23Rent/Utilities/Travel 13

Total Expenses 267Surplus Funds 102

Vineyard Power 2010 Sources/Uses Overview


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( $ millions)

Pre- Development Financing 17Leasing, Permitting, Environmental Studies

Wind Monitoring(2012) 5Down payment on capital equipment

andpre-construction expenses(2013) 12Project Financing 172USDA Rural Utility Service Loan (2015) 82Sale of federal tax credits to equity investor (2014) 57Sale of Renewable Energy Credits(2015) 33

Vineyard Power Financing Requirements/Sources


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Dave McGlinchey


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REGULATORY

ISSUES FOR FEDERAL

AND STATE

OFFSHORE WIND

SITES


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Outline

Offshore Wind in Federal Waters

Offshore Wind in State Waters

Timeline


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Offshore Wind In Federal Waters

Cape Wind began the process in 2001

Energy Policy Act of 2005 transferred oversight to

Minerals Management Service

MMS issued leasing guidelines in April 2009 with four

leasing options, determined after RFI

Multi-factor auction, which favors organizations with

community ties or community benefit.

Draft MMS map suggests commercial developments

will begin 9 miles offshore

Draft suggests innovative developments (in terms oftechnology or ownership) between 3 and 9 miles


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MA Ocean Management Plan developed by the Executive

Office of Energy and Environment

Final Plan issued Jan 4, 2010

Designates areas south of Cuttyhunk and Nomans Land as

renewable energy zones

Gives Marthas Vineyard Commission authority to determine

appropriate scale in the Nomans Land zone

Gives Marthas Vineyard Commission authority to approve up

to 17 offshore wind turbines outside those renewable

energy zones

Offshore Wind in State Waters


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Probable Timeline

State Permitting

Federal Permitting


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Tyler StuddsVision Fellowship

Vineyard Energy Project


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Decision Making for

Community Owned

Offshore Wind Site

Selection

Tyler Studds


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Context for

Community Owned

Offshore Wind

Realization of an idea long in the making

Accelerated by State and Federal planning processes

- Siting for renewable energy- Large local Impact Community ownership as a Strategy to minimizeconflict

- Local benefits- Local control- Site selection


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A Complex Decision Problem

Understanding the problem

Multiple factorsComplex trade-offsConflicting values

Deciding on a solution

IndividualGroup

How to move from: Individual preference?to: Group choice?


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Structuring the Decision

Combine multiple elements to address differentaspects of decision

GIS to input, analyze, display geographic dataMulti-criteria Decision Analysis framework

Site Selection Tool

Design based on similar siting questions(Facilities location, transportation, urban planning)

Member forums to address deliberative aspects

Elements will inform and reinforce one another


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How will different

aspects of thedecision be handled?

Member Forums

Define decision

Determine criteria

Debate options

Final decision

Site Selection Tool

Perform complex analysis

Explore the problem

Understand trade-offs

Visualize preferences


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What do we hope to gainfrom this process?

Acceptable sites for development

Siting criteria as a statement ofpreference for other applications


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Your Role

Its an important decision Get educated Get involved

The more we put in the more we get back


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Acceleratemembership campaignEstablish an active membership volunteer baseContingent Promissory Notesisa vehicle for members to invest in the Co-operativePreparation for the Annual Meeting

Enhance the role of the Advisory Committee

Establish a nomination process and qualification guidelines for prospective directors

Establish a process for membership voting

Election of 3 new directors to the Board

Prepare membership for site selectionduring 2010

Load Management Update

Vineyard Power 2010


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vineyard power cooperative meeting feb 2010

Documents