BUSINESS CHALLENGE
To facilitate sustainable energy generation in southeastern Massachusetts, Future Generation Wind (FGW) sought to evaluate the use of wind power as an alternative renewable energy source. In 2009, the project Owner approached SourceOne to provide peer review services for a wind turbine study in Plymouth, projected to yield 8 MW of combined generating capacity. SourceOne was subsequently brought forth by FGW to act as owner’s representative for the development of the wind turbine project.
SOURCEONE SOLUTION
Acting as Owner’s Representative, SourceOne is managing several aspects of project development to help guide the project towards successful completion. SourceOne has been working with FGW from the very early stages of the development project. As the owner’s representative, SourceOne has supported the project in a variety of capacities including permitting, financial modeling, budget management, securing pre-development financing, power sales, and management of the interconnection process.
Upcoming milestones for the project include finalizing the interconnection, establishing a PPA, purchasing of equipment and securing financing.
RESULTS
To date SourceOne has been successful in:
- Securing $250,000 of pre-development funding from the Massachusetts Clean Energy Center.
- Acting as Independent Engineer, providing third party review and verification of early feasibility analysis.
- Working as a member of the project management team which is responsible for the project development budget, timeline, power sale, financial modeling, and development of workable capital structures for the project.
- Managing the interconnection process from early conceptual design through to current discussions with NSTAR and ISO-NE on appropriate interconnection infrastructure for the project.
The project is comprised of 4 Wind Turbines with a generating capacity of 8 MW. Once completed, this will be one the largest privately owned wind power projects with the tallest wind turbines in the Commonwealth of Massachusetts.