Deepwater Wind, LLC Revolution Wind Project
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Deepwater Wind, LLC with GridAmerica Holdings Inc. and FirstLight Power Resources Management, LLC Proposal for the sale of Energy and RECs from the: Revolution Wind Project in response to: The Request for Proposals for Long-Term Contracts for Offshore Wind Energy Projects issued by Electric Distribution Companies in Massachusetts and Massachusetts Department of Energy Resources. RFP Issuance Date: June 29, 2017 Submission Date: December 20, 2017 submitted to: The Massachusetts Department of Energy Resources and Distribution Companies, which include: Fitchburg Gas & Electric Light Company d/b/a Unitil Massachusetts Electric Company d/b/a National Grid Nantucket Electric Company d/b/a National Grid NSTAR Electric Company d/b/a Eversource Western Massachusetts Electric Company d/b/a Eversource REVOLUTION WIND PROJECT DECEMBER 20, 2017 Certain data contained in this document or electronic file, as well as the appendices listed below, which hereby forms a part of the Proposal have been submitted in confidence and contain trade secrets or proprietary information, and Deepwater Wind and GridAmerica request confidential treatment of such parts of the Proposal as provided in Section 1.7.4 of the Request for Proposals. Deepwater Wind and GridAmerica request that the data marked with a double blue underline not be disclosed as such information is confidential and proprietary and exempt from disclosure under the Freedom of Information Act. Table of Contents Section 1: Certification, Project and Pricing Data .........................................................................................1 Section 2: Executive Summary ......................................................................................................................3 2.1: 83C Proposal Introduction ..................................................................................................................3 2.1.1: Saving Money for Ratepayers with Low Pricing .....................................................................3 2.1.2: Smaller Projects to Promote Long Term Cost-Effectiveness .................................................4 2.1.3: Pairing Wind and Storage to Replace Retiring Capacity .......................................................4 2.1.4: Planning for Incremental, Expandable Transmission ............................................................5 2.2: Bidder Introduction .............................................................................................................................7 2.2.1: Deepwater Wind .........................................................................................................................7 2.2.2: GridAmerica ...............................................................................................................................8 2.2.3: FirstLight ....................................................................................................................................8 2.3: Wind Farm Project Definition .............................................................................................................9 2.4: Delivery Facility Project Definition ..................................................................................................12 2.5: Storage Facility Project Definition ....................................................................................................14 2.6: Overview of Offers ...........................................................................................................................16 2.6.1: Wind Farm ................................................................................................................................16 2.6.2: Storage Feature ........................................................................................................................17 2.7: Satisfaction of Evaluation and Selection Criteria .............................................................................18 2.7.1: Stage One: Eligibility and Threshold Requirements ............................................................18 2.7.2: Stage Two: Quantitative and Qualitative Analysis ...............................................................18 2.7.3: Stage Three: Portfolio Considerations ...................................................................................19 Section 3: Operational Parameters ...............................................................................................................20 3.1: Maintenance Outage Requirements ..................................................................................................20 3.1.1: Wind Farm ................................................................................................................................20 3.1.2: Delivery Facility ........................................................................................................................21 3.1.3: Storage Facility .........................................................................................................................21 3.2: Operating Constraints ........................................................................................................................21 3.2.1: Wind Farm ................................................................................................................................21 3.2.2: Delivery Facility ........................................................................................................................21 DEEPWATER WIND Page ii REVOLUTION WIND PROJECT DECEMBER 20, 2017 3.3: Reliability ..........................................................................................................................................22 3.4: Moderation of System Peak Load .....................................................................................................23 3.4.1: Wind Farm ................................................................................................................................23 3.4.2: Storage Facility .........................................................................................................................24 3.5: Development Stage of Facility ..........................................................................................................24 3.5.1: Wind Farm ................................................................................................................................24 3.5.2: Delivery Facility ........................................................................................................................24 3.5.3: Storage Facility .........................................................................................................................25 Section 4: Energy Resource and Delivery Plan ...........................................................................................26 4.1: Energy Resource Plan .......................................................................................................................26 4.2: Offshore Wind Energy Generation Delivery Plan ............................................................................30 4.2.1: Wind Farm ................................................................................................................................30 4.2.2: Storage Facility .........................................................................................................................30 4.3: REC / Environmental Attribute Delivery Plan ..................................................................................31 4.3.1: Wind Farm ................................................................................................................................31 4.3.2: Storage Facility .........................................................................................................................31 Section 5: Financial / Legal .........................................................................................................................32 5.1: Approach to Financing ......................................................................................................................32 5.2: Bidder’s Organization .......................................................................................................................32 5.3: Financing Plan ...................................................................................................................................32 5.4: Financing Experience ........................................................................................................................33 5.4.1: Deepwater Wind .......................................................................................................................34 5.4.2: GridAmerica .............................................................................................................................34 5.4.3: FirstLight ..................................................................................................................................34 5.5: Financial Resources ..........................................................................................................................34 5.5.1: Deepwater Wind .......................................................................................................................34 5.5.2: GridAmerica .............................................................................................................................34 5.5.3: FirstLight ..................................................................................................................................34