Case Study: Idaho Wind Partners 1
Idaho Wind Partners 1
The Idaho Wind Partners 1 project (“IWP”), consists of 122 turbines and 183 MW of capacity across 11 projects and 11 qualifying facility power purchase agreements (“PPAs”) is located in southern Idaho. In May 2010, Reunion Power LLC (a predecessor company of Ruby Renewable Resources LLC) was brought in by GE EFS as the Managing Member of IWP. Reunion undertook all final development, construction and commissioning oversight and the asset management responsibilities of these facilities. In June 2010, Reunion introduced Atlantic Power to IWP who subsequently purchased a 27.5% interest in IWP (providing Ruby with attractive one-time success fees). IWP was constructed on time and under budget and has achieved an availability of greater than 98% under Reunion’s (now Ruby’s) management.
In December 2012 the Management Services Agreement for the IWP Project was assigned to Ruby Renewables. As a direct result of Ruby’s work, IWP successfully withstood significant PPA challenges from the incumbent utility. Furthermore, Ruby successfully restructured 8 out of the 11 PPAs (i.e. removed thorny monthly nomination provisions) that lead to the subsequent release of a supplemental debt reserve that had been created specifically in view of those challenging PPA provisions that had been restructured.
In addition to the Asset Management services, Ruby is responsible for all IT-related activities and requirements. Ruby installed and oversees the Fleet Manager application that is the software platform for the overall management of the 11 operating projects (122 units) as well as monitoring of the Tuana Gulch substation. Additionally, Ruby also installed a Wind Farm Management system and monitors and maintains all critical IT assets.
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