Blue Jay Solar Farm Iola ISD April 2020 Open Road Renewables - - PowerPoint PPT Presentation

Blue Jay Solar Farm

Iola ISD April 2020

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Open Road Renewables

▪ Austin-based developer of utility-scale solar generation projects ▪ Principals formerly with Pioneer Green Energy and SunEdison ▪ Extensive experience in large-scale renewable energy development:

▪ 95 MW of operating solar projects in CA ▪ 115 MW of operating solar projects in MD ▪ 200 MW of solar projects under construction in OH ▪ Over 1,300 MW of wind projects operating or under construction in TX

▪ Affiliated with MAP Energy

▪ Investment funds focused on natural gas, wind and solar ▪ Originated many solar and wind energy projects across the U.S. over the last decade

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Blue Jay Solar: Project Description

▪ 16 land owners ▪ Approx. 2,500 acre total project area ▪ Approx. 1,700 acre site area, most of

which is open ground (typically turf grass)

▪ Equipment removed and land restored

upon project termination (35-40 years)

▪ Capacity of up to 210 MW ▪ Power delivered to 138 kV Iola substation ▪ Target commercial operations: December

2021 – May 2022

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Blue Jay Solar: Project Area

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Project Benefits

▪ Approx. 200 full-time equivalent jobs created during construction (est. 12 months)* ▪ 1 “qualified” (permanent) job created for the life of the project ▪ Estimated $170 million project investment, including direct and induced local spending

during construction (food, fuel, housing, aggregate, fence materials, etc.) resulting in additional county sales tax revenue*

▪ Project to employ qualified local labor (as available) ▪ Estimated $2 million in annual spending over 35-plus years of operation (including direct

payments to local land owners, site maintenance, etc.) plus property tax payments*

▪ Clean, emissions-free electricity with no water use for 40,000 homes * Assumes 210 MW project capacity

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Project Benefits: Iola ISD

School Funding

▪ Value limitation agreement to provide for:

➢ Supplemental Payments - sharing of project M&O tax savings ➢ Revenue Protection Payments - “hold harmless” resulting in no M&O revenue losses

▪ Increased tax base for debt service (I&S), allowing for reduction in I&S tax rate for

existing debt or new funds to service additional debt Enhanced Science Education for Local Students

▪ Hands-on educational experience for students through:

➢ Tours of operating solar farm ➢ Real-life math/science applications in advanced clean energy technology ➢ Hands-on learning opportunities in chemistry, physics, and geoscience

Craig Adair Senior Development Manager craig@openroadrenewables.com