west power orig update sorry for the delay . . .
las vegas :
signed up . only condition is hsr . the team is putting together a transition plan to deal with communications , ongoing development , bank interfaces and closing schedules .
saguaro :
submitted non - binding low bid last week to acquire mission ' s 50 % interest . waiting for jeff donahue to work out the engagement letter with csfb for the more likely scenario ( selling our 15 % interest ) . i spoke with him friday and he was going to deal with it today . ( this episode was pretty silly - after andy requested his group ' s involvement i sent andy a draft , then sent drafts to donohue , metts , glisan , then called donahue , metts , miller , etc . )
longview :
finalized info memorandum - will send out to market later this week . mccook still interested but slow . development is going well but slower than expected . viable epc contractor is modern continental - karen barbour from rac and jake thomas visited them in boston and gained some new respect for their people , experience , approach , credit , etc . we will likely need a dash for late july to put deposits down on additional equipment . i still see this as a q 4 $ 15 mm deal without taking any construction risk .
munis :
mcdonald did a small term deal in npl 5 - interestingly it was an index deal through the muni ( shasta ) to an industrial ( kanauf ) with whom we executed a financial swap - orig approx $ 400 m .
renewables :
air force deal was booked to foster because a mid - marketer worked with elliot to close the deal and also some of the credits we sold had been banked by foster from last year . this is ok with me as long as all of the other wind stuff gets properly credited to orig ( anything with ene wind , cinergy , enxco , pacificorp , montana , putting a site to munis , etc . ) . no need to referee !
amps : we pulled the plug on the oregon site . we are about to do the same with the utah site . will continue to support brett if he needs it .
montana : another meeting went well - we are hiring bond and tax counsel to work on the structure . still looks like a $ 500 mm prepay tied to a portfolio of assets and contracts . their bid is $ 40 escalated at cpi for 500 mw 7 x 24 for 10 years starting 7 / 1 / 02 . montana should trade at a discount to mid - c so this is transactable if we can make the stars line up . at their request , we are responding to a montana power rfp for renewables ( enron wind has two sites and we are partnering with them in a rfp response ) .
chris calger
503 - 464 - 3735
west power orig update
sorry for the delay . . .
las vegas :
signed up . only condition is hsr . the team is putting together a transition plan to deal with communications , ongoing development , bank interfaces and closing schedules .
saguaro :
submitted non - binding low bid last week to acquire mission ' s 50 % interest . waiting for jeff donahue to work out the engagement letter with csfb for the more likely scenario ( selling our 15 % interest ) . i spoke with him friday and he was going to deal with it today . ( this episode was pretty silly - after andy requested his group ' s involvement i sent andy a draft , then sent drafts to donohue , metts , glisan , then called donahue , metts , miller , etc . )
longview :
finalized info memorandum - will send out to market later this week . mccook still interested but slow . development is going well but slower than expected . viable epc contractor is modern continental - karen barbour from rac and jake thomas visited them in boston and gained some new respect for their people , experience , approach , credit , etc . we will likely need a dash for late july to put deposits down on additional equipment . i still see this as a q 4 $ 15 mm deal without taking any construction risk .
munis :
mcdonald did a small term deal in npl 5 - interestingly it was an index deal through the muni ( shasta ) to an industrial ( kanauf ) with whom we executed a financial swap - orig approx $ 400 m .
renewables :
air force deal was booked to foster because a mid - marketer worked with elliot to close the deal and also some of the credits we sold had been banked by foster from last year . this is ok with me as long as all of the other wind stuff gets properly credited to orig ( anything with ene wind , cinergy , enxco , pacificorp , montana , putting a site to munis , etc . ) . no need to referee !
amps : we pulled the plug on the oregon site . we are about to do the same with the utah site . will continue to support brett if he needs it .
montana : another meeting went well - we are hiring bond and tax counsel to work on the structure . still looks like a $ 500 mm prepay tied to a portfolio of assets and contracts . their bid is $ 40 escalated at cpi for 500 mw 7 x 24 for 10 years starting 7 / 1 / 02 . montana should trade at a discount to mid - c so this is transactable if we can make the stars line up . at their request , we are responding to a montana power rfp for renewables ( enron wind has two sites and we are partnering with them in a rfp response ) .
chris calger
503 - 464 - 3735