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CARICARITrTraansns
Clean, Reliable, and Low Cost EnergyClean, Reliable, and Low Cost Energy for the for the
CaribbeanCaribbeanDecember, 2006
Confidential
Introduction
CARITrans… Joint Development Company Comprised of:
Boundless Energy, LLC AvantBridge, Inc. The ENMAN Group
Venable, LLP Legal Advisor (450 Member Law Firm based in
Washington DC; Chaired by Benjamin Civiletti – former Attorney General of United States)
Overview of CARITrans Partnership
Boundless Energy (US) Energy project
developer and engineers
Specializing in HVDC technology
Project Neptune Developer
Project financed & under construction
Neptune Project Under Construction
West Coast Cable Project with PG&EPress Release: 1 November, 2005:Pacific Gas and Electric Company and Sea Breeze Pacific to Explore Major New Electric Transmission Project SAN FRANCISCO – 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.
Additional developments include:
1020km Cable Route
Additional developments continued…
Juan de Fuca Cable Currently in open
season Under permitting Financing secured
Vancouver Island Cable 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
AvantBridge (US) International project
development and financing Raised over $1.3B US in
international funding ENAMAN Group (Trinidad)
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
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
Project to be built in two phases: 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: Clean Energy – No pollution Reliable Energy – 99% availability Generation not affected by local hurricane events Economic benefits
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
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
CARICARITrTraansns
Clean, Reliable, and Low Cost EnergyClean, Reliable, and Low Cost Energy for the for the
CaribbeanCaribbeanDecember, 2006
Confidential