Blue Jay Solar Farm Iola ISD April 2020
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 2
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 3
Blue Jay Solar: Project Area 4
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 5
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 6
Craig Adair Senior Development Manager craig@openroadrenewables.com
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