Transcript VIWAPA Board Presentation - SBP-RTS

Clean, Reliable, and Low Cost Energy
for the
Caribbean
December, 2006
CARITrans
Confidential
Introduction
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CARITrans…
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Joint Development Company Comprised of:
 Boundless Energy, LLC
 AvantBridge, Inc.
 The ENMAN Group
Venable, LLP
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Legal Advisor (450 Member Law Firm based in
Washington DC; Chaired by Benjamin Civiletti
– former Attorney General of United States)
Overview of CARITrans Partnership
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Boundless Energy
(US)
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Energy project
developer and
engineers
Specializing in
HVDC technology
Project Neptune
Developer
 Project financed
& under
construction
Neptune Project Under Construction
Additional developments include:
West Coast Cable Project with PG&E
Press Release: 1 November, 2005:
Pacific Gas and Electric Company and
Sea Breeze Pacific to Explore Major
New Electric Transmission Project
– Pacific Gas and Electric
Company and Sea Breeze Pacific West
Coast Cable, LP, have agreed to study the
possible development of an undersea electric
transmission line that would enhance power
supplies in northern California by connecting
the region with sources of low-cost and
renewable electricity in the Pacific Northwest.
SAN FRANCISCO
1020km Cable Route
Additional developments continued…
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Juan de Fuca Cable
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Currently in open
season
Under permitting
Financing secured
Vancouver Island
Cable
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Full NEB Approval
Full Environmental
Canada Approval
Financing secured as
regulated project
“Seabreeze RTS will set a new standard for transmission project in Canada.”
National Energy Board of Canada – October 2006
Overview of CARITrans Partnership
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AvantBridge (US)
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International project
development and financing
Raised over $1.3B US in
international funding
ENAMAN Group (Trinidad)
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Owner – Former Chairman of
PetroTrin
Energy project developer and
engineers
Exclusive developer of
Guyana’s $1B hydro-electric
station in Turtruba, Guyana
Developer of power source for
CARITrans
Project and Technology Overview
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CARITrans is developing a submarine High Voltage
Direct Current (HVDC) cable that will import
clean, reliable, and low cost electricity to Puerto
Rico
Project has been under financial and feasibility
development for the past three years
Energy will be sourced from natural gas and
renewable energy from the Trinidad-Guyana
region
Potential for region to import/export between
600-1200MW of electricity
Project and Technology Overview
Project and Technology Overview
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Project to be built in two phases:
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Phase I: Connect and deliver electricity to
Trinidad and throughout Caribbean
Phase II: Additional low cost renewable
generation assets added
Project benefits to Caribbean include:
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Clean Energy – No pollution
Reliable Energy – 99% availability
Generation not affected by local hurricane events
Economic benefits
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Lower Cost of Electricity
Stable & predictable fuel source independent of global
price fluctuations
Strengthen existing Grid
50 Year Usable Life
Project and Technology Overview
•Detailed Bathymetric Analysis have been conducted
Project and Technology Overview
•Very reliable technology –
In total about 75,000 MW
HVDC transmission capacity
is installed in 92 projects
around the world
•HVDC ideally suited for
long-haul high voltage
requirements
•Lower Line Loss than AC
•No discharge of air or water
emissions
•Monopolar transmission
using ground as return path
Project and Technology Overview
A sample of several existing HVDC Projects…
Project Development Highlights
Project feasibility and
assessment completed
 Power sources identified
 Project finance sources identified
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St Thomas – St Croix Interconnect
St Thomas – St Croix Interconnect
Interconnection Benefits
•Reduces cost of current operations
•Reduces need to build costly new
generation
•Maximizes reliability of both Island systems
•Allows sharing of resources to reduce impact of
outages
•Positions VI WAPA to receive low-cost
renewable power from future Caribbean network
•Will also enable VI WAPA to export power
derived from local resources
•Project can be completed in 2+ years
Clean, Reliable, and Low Cost Energy
for the
Caribbean
December, 2006
CARITrans
Confidential