wind i like wind .
i have two people pursuing opportunities . elliot mainzer and scott healy . elliot managed our structuring group and has been interested in renewables for some time so tim and i pushed him out of his nest and gave him a mandate to start a renewables desk . his vision is to make a market for green power and start a renewables power exchange ( " rpx " ) on eol . scott is a generalist originator but developed wind projects prior to joining enron so i have pulled him in to work with elliot .
in this high - priced market , wind is economic . wind development is able to come online quicker than nat gas . the challenges are related to firming , or at least being able to pre - schedule the energy . bpa , pacificorp and ladwp have expressed interest in taking intermittent wind energy and redelivering it to a market point with a weekly pre - schedule . they charge approximately $ 10 / mwh for this service . given the value of supply , we are trying to buy energy or partner in development . current supply initiatives :
- executed mou with enexco / cinergy for joint development - non - binding , epmi markets , enexco builds and operates ; cinergy provides equity
- proposed to pacificorp purchase of 50 mw block from their stateline project
- proposed to ene wind purchase of energy from four of their ca projects
- proposed to ene wind the purchase of one of their pnw sites
- discussions with morongo tribe re joint ca development
demand is coming from municipal and investor utilities , bpa , dwr , select fortune 50 industrials with green portfolio requirements . bpa put out an rfp for 1000 mw . we are meeting with municipal utilities to promote the concept of the rpx and to get some notional long - term bids .
this has all heated up in the last two months , but i like the fundamentals and i think we will have a small , profitable new business by the end of the year .
chris
louise kitchen
04 / 03 / 2001 02 : 05 pm
to : christopher f calger / pdx / ect @ ect
cc :
subject : re : turbine swap
i like the innovative approach to ge .
what are you doing on wind by the way ?
louise
christopher f calger
04 / 02 / 2001 07 : 39 pm
to : louise kitchen / hou / ect @ ect
cc :
subject : turbine swap
we received two financing commitment letters from hancock . in general , the letters are good and suggest that hancock is genuinely in the deal , but they include some flakey language about not having final committee approvals . chip is going to push them a little more and if necessary get hancock to call ben glisan to assure us that they are in ( hancock wants a lot of future business from enron ) . in the meantime , we are innovatively stalling ge by requiring some consent language up front so we get another day from them . i think we will get both sides of this trade done .
wind
i like wind .
i have two people pursuing opportunities . elliot mainzer and scott healy . elliot managed our structuring group and has been interested in renewables for some time so tim and i pushed him out of his nest and gave him a mandate to start a renewables desk . his vision is to make a market for green power and start a renewables power exchange ( " rpx " ) on eol . scott is a generalist originator but developed wind projects prior to joining enron so i have pulled him in to work with elliot .
in this high - priced market , wind is economic . wind development is able to come online quicker than nat gas . the challenges are related to firming , or at least being able to pre - schedule the energy . bpa , pacificorp and ladwp have expressed interest in taking intermittent wind energy and redelivering it to a market point with a weekly pre - schedule . they charge approximately $ 10 / mwh for this service . given the value of supply , we are trying to buy energy or partner in development . current supply initiatives :
- executed mou with enexco / cinergy for joint development - non - binding , epmi markets , enexco builds and operates ; cinergy provides equity
- proposed to pacificorp purchase of 50 mw block from their stateline project
- proposed to ene wind purchase of energy from four of their ca projects
- proposed to ene wind the purchase of one of their pnw sites
- discussions with morongo tribe re joint ca development
demand is coming from municipal and investor utilities , bpa , dwr , select fortune 50 industrials with green portfolio requirements . bpa put out an rfp for 1000 mw . we are meeting with municipal utilities to promote the concept of the rpx and to get some notional long - term bids .
this has all heated up in the last two months , but i like the fundamentals and i think we will have a small , profitable new business by the end of the year .
chris
louise kitchen
04 / 03 / 2001 02 : 05 pm
to : christopher f calger / pdx / ect @ ect
cc :
subject : re : turbine swap
i like the innovative approach to ge .
what are you doing on wind by the way ?
louise
christopher f calger
04 / 02 / 2001 07 : 39 pm
to : louise kitchen / hou / ect @ ect
cc :
subject : turbine swap
we received two financing commitment letters from hancock . in general , the letters are good and suggest that hancock is genuinely in the deal , but they include some flakey language about not having final committee approvals . chip is going to push them a little more and if necessary get hancock to call ben glisan to assure us that they are in ( hancock wants a lot of future business from enron ) . in the meantime , we are innovatively stalling ge by requiring some consent language up front so we get another day from them . i think we will get both sides of this trade done .
