N E W E N G L A N D C L E A N P O W E R L I N K OVERVIEW PRESENTATION New England Restructuring Roundtable Large Transmission-Based (MA 83D) RFP Project Proposals Foley Hoag,155 Seaport Boulevard, Boston October 6, 2017
N E W E N G L A N D C L E A N P O W E R L I N K Québec-New England THE PR THE PROJE OJECT CT Interconnection QUÉBEC 1,000 MW buried HVDC transmission project developed by TDI-NE, a Blackstone portfolio company Lake Champlain ▪ 154-mile route from Canadian border to Ludlow, VT ▪ 2/3 in Lake Champlain Burlington ▪ 1/3 buried along road right of ways Montpelier Full and uncontested site control ▪ Connects to HQ system in Québec via new 30-mile, buried HVDC line VERMONT ▪ Connects to ISO-NE system at Coolidge substation in Ludlow, VT Fully permitted and supported Rutland ▪ Enjoys widespread support in VT and region Ludlow ▪ All permits received ISO-New England Interconnection ▪ I.39 process completed with ISO-New England NEW HAMPSHIRE Operations ▪ 40+ year asset provides clean energy benefits long after the initial contracts are over MASSACHUSETTS 2
N E W E N G L A N D C L E A N P O W E R L I N K BID BID #1 #1 100% Hydro TRANSMISSION ENERGY ▪ 1,000 MW interconnection in Québec ▪ 1,000 MW transmission line ▪ Guaranteed year-round energy deliveries ▪ 96.5% minimum availability ▪ Energy sourced from HQ’s fleet of hydro facilities ▪ Fixed price bid Power purchase agreement Transmission service agreement PPA with MA utilities TSA with MA utilities ▪ 20-year contract ▪ 20-year contract ▪ Firm delivery of a minimum of 8.3 TWh hydropower ▪ Firm transmission rights annually ▪ Approved by FERC ▪ Approved by MA DPU ▪ Environmental attributes 3
N E W E N G L A N D C L E A N P O W E R L I N K BID BID #2 #2 Hydro and Wind TRANSMISSION ENERGY ▪ 1,000 MW interconnection in Québec ▪ 1,000 MW transmission line ▪ Guaranteed year-round energy deliveries ▪ 96.5% minimum availability ▪ 700 MW hydro + 300 MW wind firmed by ▪ Fixed price bid HQ’s fleet of hydro facilities Transmission service agreement Power purchase agreement TSA with MA utilities PPA with MA utilities ▪ 20-year contract ▪ 20-year contract ▪ Firm transmission rights ▪ Firm delivery of a minimum of 8.3 TWh ▪ Approved by FERC hydropower and wind annually ▪ Approved by MA DPU ▪ Environmental attributes ▪ Expansion of existing Seignuerie de Beaupre project located north of Québec City 4
N E W E N G L A N D C L E A N P O W E R L I N K FULL FULLY S Y SUPPOR UPPORTE TED “As the host state for this project, “They really asked us to think about “ Everything TDI-NE has done Vermont is proud of the role it what would be beneficial to people in terms of getting the project will play delivering new, clean who are struggling to pay their prepared for construction has energy to Massachusetts and utility bills.” been absolutely by the book. other neighbors throughout Everything has been done, in Clare Higgins, Executive Director of New England.” my mind, as well as you could Community Action of the Franklin, possibly do it.” Hampshire and North Quabbin Governor Phil Scott, Vermont Regions, Massachusetts Frank Heald, Municipal Manager, Town of Ludlow, Vermont 5
N E W E N G L A N D C L E A N P O W E R L I N K FULLY S FULL Y SUPPOR UPPORTE TED Comments on TDI-NE New England Clean Power Link Proposal in response to the March 31, 2017 June 2017 Massachusetts request for proposals for long-term contracts for clean energy projects. Conservation Law Foundation (CLF) offers the following comments regarding the TDI-NE New England Clean Power Link project, for consideration in evaluating the TDI-NE proposal for a long-term contract. ’ To whom it may concern: Conservation Law Foundation is a New England-based environmental advocacy organization. CLF has offices in five of the six New England states. Our work includes a strong focus on fostering responsible energy solutions, and for more than a decade CLF has been involved in regulatory and permitting proceedings regarding the siting, need for, and environmental impacts of electric transmission projects. Conservation Law Foundation specifically comments on the proposed project ’ s environmental impacts from siting, which is an element of the qualitative evaluation pursuant to Section 2.3.2 of the RFP. TDI- NE has not yet made public its power supply partners, therefore CLF cannot comment on other aspects “ ” The proposed New portion will be beneath existing roadway righ “ avoids … impacts to conservation lands and/or public or private conser … impacts from siting ” by “ siting with compatible existing … roads. ” RFP Section 2.3.2 vii. The proposed New England Clean Power Link project will be underwater or underground, and its land portion will be beneath existing roadway rights of way. As a result, the proposed project adequately of the proposal at this time. TDI-NE has demonstrated care in addressing siting impacts of the New England Clean Power Link “ avoids … impacts to conservation lands and/or public or private conservation easements, ” and “ avoids project. TDI-NE ’ s buried transmission line in Vermont shows that the facilities needed to transport … impacts from siting ” by “ siting with compatible existing … roads. ” RFP Section 2.3.2 vii. electricity can meet high environmental standards for siting and be developed in a responsible, TDI-NE has demonstrated care in addressing siting impacts of the New England Clean Power Link project. TDI-NE ’ s buried transmission line in Vermont shows that the facilities needed to transport electricity can meet high environmental standards for siting and be developed in a responsible, cooperative manner. cooperative manner. Sincerely, Sincerely, Sandra Levine Senior Attorney 6
N E W E N G L A N D C L E A N P O W E R L I N K A S A SHO HOVEL VEL-READ READY Y PR PROJECT OJECT Fully permitted Full site control ▪ Uncontested land control via numerous state and local property agreements VT State Siting Permit Army Corps Permits Presidential Permit January 6, 2016 January 29, 2016 December 5, 2016 Other key permits and approvals received by TDI-NE ▪ ▪ ▪ I.39 Authorization Lake Encroachment Permit Construction Storm-water Permit (Lake Champlain) ▪ ▪ FERC Negotiated Rate Authority Operational-Phase Storm-water Permit ▪ Lake Encroachment Permit ▪ ▪ NEPA FEIS Floodplain Permit (Lake Bomoseen) ▪ ▪ VTRANS Permit Enabling ROW Host Community Agreements (3 Towns) ▪ Stream Alteration Permit Installation ▪ MOUs with 3 VT Agencies, 3 VT Utilities and ▪ VT Wetland Permit ▪ 401 Water Quality Certification CLF 7
N E W E N G L A N D C L E A N P O W E R L I N K FIR FIRM DESIG M DESIGN, FIX , FIXED ED PRI PRICE CE BI BIDS AN DS AND D A REA A REALISTIC LISTIC SC SCHEDU EDULE LE Example of 0.2 mile permitted project design Schedule Fixed price bid Operational date ▪ Realistic schedule created by TDI-NE ▪ Fixed-priced bid insulates ▪ Detailed designs, agreements with contractors ABB/NKT and Quanta Commonwealth ratepayers strong partners and full permitting from potential cost ensures the NECPL will meet its ▪ Cable manufacturing slots guaranteed overruns operational date ▪ Five months to install 2/3 of project ▪ Bid guaranteed by ▪ VELCO and ABB to provide long-term in lake ABB/NKT and Quanta maintenance services ▪ AC upgrades concurrent with full ▪ Financing arranged by ▪ 40+ year resilient, buried asset project installation Blackstone which has developed over $30 billion of energy infrastructure assets in past decade 8
N E W E N G L A N D C L E A N P O W E R L I N K Wor orld Cl ld Class ass Const Construction uction Team eam Cables Finance HVDC Technology Installation ▪ Over 60 years of HVDC ▪ Leading global player in ▪ Industry leader for ▪ Blackstone is a world- experience the high-voltage DC infrastructure solutions class energy market infrastructure developer ▪ More than 120 HVDC projects ▪ Extensive knowledge, ▪ Has two of the most ▪ Over the past decade, worldwide expansive resources and technologically advanced complete scope of the organization has ▪ 20 years of experience within and efficient HV financed and developed services are unmatched HVDC Light (VSC) technology production facilities in the over $30 billion of energy ▪ Proven its value, even in ▪ 70 % of all the VSC HVDC world infrastructure assets the face of time links in the world ▪ Own harbour with direct ▪ Currently has $368 billion constraints, inclement ▪ Dedicated customer service sea access weather, challenging under management and comprehensive project terrain and uncharted ▪ Delivers highest quality management territory and reliable timely project execution 9
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