Business Review
Renewable Energy - Wind

 

Steven Bode, Operations Manager and Ros Rocco Vrba, Senior Construction Project Manager, were key members of the team responsible for the successful commissioning of the Lost Creek Wind Farm, ahead of schedule, under budget and with a clean safety record.

 

Well Positioned
Wind Capital Group’s (WCG) success as a leading independent developer of utility-scale wind projects in the US Midwest is founded on the principle of responsible partnership and on the company’s ‘first mover’ position in the burgeoning Midwest energy corridor.

 

The combination of available sites, with strong wind resources and demand for renewable energy, driven by attractive state Renewable Portfolio Standards (RPS), creates a high growth market opportunity. In addition, states in the Midwest will act as major wind export hubs to regions with large demands for clean energy, including California, the mid-Atlantic and the South.

 

To date, WCG has successfully developed seven wind projects totalling 913 megawatts (MW), of which six projects representing 763 MW have been sold to third parties.

 

Strong Growth & Successful Financing in a Challenging Market
2010 was yet another period of continued growth for WCG. Most significantly and against the backdrop of a difficult financial and credit market, WCG secured US$240 million in project debt financing for the construction and completion of its 150 MW Lost Creek Wind Farm, Missouri’s largest wind project. The company also successfully raised tax equity for the project, being one of the first to do so as the tax equity markets reopened in early 2010. In May 2010, the Lost Creek project achieved commercial operation ahead of schedule, under budget and with a clean safety record.

 

Lost Creek Achieves Commercial Operations
The Lost Creek project is the first project owned and operated post development by WCG. Power from the one hundred, 1.5 MW General Electric (GE) wind turbines at Lost Creek is being purchased by Associated Electric Cooperative, Inc. (AECI), under a 20 year power purchase agreement, for use by its member cooperative utilities throughout Missouri. The power is delivered through the N.W. Electric Cooperative Inc’s 161 kV transmission system and generates enough power for more than 50,000 homes.

 

Robust Pipeline & Build-Out Strategy
2009 was a record year for the US wind industry with over 10,000 MW of new generating capacity installed and wind energy providing 1.8% of US power, an increase from 1.3% at the end of 2008. While 2010 has seen significant contraction in MW installations, WCG continues to maintain a robust and diversified development pipeline of over 2,000 MW across nine Midwestern states and is well positioned to capitalise on a future resurgence of the market.

 

WCG’s established reputation as a partner with a proven and personalised approach to the development process, together with its track record in securing project finance and completing projects on time and on budget, provides a firm platform for continued success and future growth.

 

Committed to Leadership in Wind Energy
WCG is committed to leadership in wind energy and continues to set the standard for responsible and successful project development in the US Midwest. The achievement of key finance and development milestones in 2009 is testament to the strength and depth of knowledge and expertise of the WCG team.

Wind Capital Group’s (WCG)

Steven Bode, Operations Manager and Ros Rocco Vrba, Senior Construction Project Manager, were key members of the team responsible for the successful commissioning of the Lost Creek Wind Farm, ahead of schedule, under budget and with a clean safety record.
Against the backdrop of a difficult financial and credit market, WCG secured US$240 million in project debt financing for the construction and completion of its 150 MW Lost Creek Wind Farm, Missouri’s largest wind project.