Nordic O&M Conference 2013

Kelly Dallas VP Technical Services – Renewable Power Group November 2013

For professional clients / qualified investors only

This presentation is for use only in one-on-one selected investor presentations with (i) US Persons and US tax-exempt investors within the United States, each of which being “accredited investors” and “qualified purchasers” (as defined in the Securities Act of 1933, as amended, and Investment Company Act of 1940, as amended, respectively) and (ii) investors outside of the United States that are not “US Persons” (as defined in Regulation S under the Securities Act of 1933 as amended). It is strictly confidential and may not be reproduced for, disclosed to or otherwise provided in any format to any other person or entity (other than your professional advisors bound by obligations of confidentiality) without the prior written consent of BlackRock Financial Management, Inc. (“BlackRock”). This presentation does not constitute an offer to sell, or a solicitation of any offer to buy, securities in any jurisdiction to any person.

Any investment decision with respect to the BlackRock NTR Renewable Power Fund (as defined herein) must be based solely on the definitive and final version of the Private Placement Memorandum, amended and restated limited partnership agreement(s), investment management agreement(s), subscription agreement(s) and related documentation for the BlackRock NTR Renewable Power Fund and its related parallel funds (collectively, the “Fund”). There is no assurance that the Fund will achieve its investment objective or generate positive returns. Such an investment is subject to various risks, including a risk of total loss. These materials have not been approved by the US Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Commodity Futures Trading Commission or any other regulatory authority or securities commission in the United States or elsewhere. This presentation contains opinions, which are expressed as of October 2013 and may change as subsequent conditions vary. Certain information contained herein has been obtained from published sources and from third parties, including without limitation, market forecasts, internal and external surveys, market research, publicly available information and industry publications. In addition, certain information contained herein may have been obtained from companies in which investments have been made by entities affiliated with BlackRock. Although such information is believed to be reliable for the purposes used herein, neither the Fund nor BlackRock assumes any responsibility for the accuracy or completeness of such information. Past performance information indicated herein is neither a guarantee nor indicative of the future performance or investment returns of the Fund and actual events or conditions may not be consistent with, and may differ materially from, historical or forecasted events or conditions. Reliance upon information in this material is at the sole discretion of the reader.

Disclaimer

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BlackRock NTR Renewable Power Fund - Overview

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Investment Strategy

The Fund

Value Add

Target Allocation

Geography Technology

• 21 person investment team across New York, Dublin and London with 100+ years of renewables industry investment experience

• Leveraging of the resources of the world’s largest asset manager with best-in-class fund and risk management infrastructure • Origination advantage through a combination of BlackRock’s reputation and investment team’s extensive industry networks

• Create a diversified international portfolio of operating Wind and Solar assets seeking stable cash flows driven by long-term contracts. Avoid technology, development and policy risk

• Cash flow yield at full deployment. Upside potential from asset appreciation

• Energy Infrastructure Fund focused on ownership of large Wind & Solar projects in North America and Europe • First close held May 30, 2012, final close in end of November 2013 • First 8 investments completed as at October 2013 (c. $150m)

Onshore Wind

Solar Photovoltaic North

America EU

Investment Sourcing

Framework Relationships

Off-Market Discussions

Auction Processes

Source: NREL Database, NTR, BlackRock NTR Renewable Power Investment Team Note: All data as of October 2013. There can be no assurances that the approximate positioning of the Fund will be achieved, as market conditions and investment opportunities may be materially different

Completed Fund Investments

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Note: The above referenced investments illustrate all the Fund’s investments. They are non-representative of all underlying Fund Investments that may be made by BlackRock on behalf of the Fund and it should not be assumed that the Fund will invest in comparable investments in the future, or that any future Investments made by the Fund will be successful. To the extent that these Investments prove to be profitable, it should not be assumed that the Fund’s investments will be profitable or will be as profitable. Additional information regarding all of the underlying investments can be provided upon request.

• Since December 2012 the Fund has deployed ~$150m

• 214MW current investment portfolio

• 71MW of US wind

• 45MW of Irish wind

• 20MW of Canadian solar

• 28MW of UK wind

• 50MW of French solar

• Portfolio can power ~100,000+ households annually

• Operating since December 2012 • Part of 300MW framework agreement

with developer juwi • 20-yr PPA with A- rated entity • 15x RePower turbines • Can power 10,000 households annually

Project Breeze – 31MW (Minnesota Wind Project)

Project Wyatt– 101MW* (Kansas Wind Project)

Project Bonner 1&2– 45MW (Irish Wind Portfolio)

Project Woodcote – 16MW (UK Wind Portfolio)

Project Abacus – 12MW (UK Wind Project)

Project Equinox – 50MW (French Solar Portfolio)

Project Glow– 20MW (Canadian Solar Portfolio)

• Operating since October 2012 • Partnered with Eurus Energy on

acquisition from EDF (*40% interest) • 20-yr PPA with BBB rated entity • 63x GE turbines • Can power 33,000 households annually

• Completion in July 2013- July 2014 • Sourced from bilateral discussions

with global developer • 15-yr FiT with BBB+ rated entity • 4x Enercon and 15x Nordex turbines • Can power 23,800 households

annually

• Operating since December 2010 • Part of 300MW framework agreement

with UK wind developer REG • 20-yr Green Certificates and 6.5-yr power

with A- rated entity • 6x Vestas turbines • Can power 6,000 households annually

• 3 operating and 4 in Q3 2013 • Sourced from bilateral discussions with

developer • 20-yr FiT with A+ rated entity • Jinko Solar panels • Can power 17,500 households annually

• Completion in Q1 / Q2 2014 • Part of a broader framework

agreement with global developer • 20-yr FiT with Aa2+ rated entity • Canadian Solar panels • Can power 3,340 households annually

• Operating since June 2012-January 2013 • Part of 100MW framework agreement

with UK wind developer REG • 20-yr Green Certificates and 10-yr power

with A- rated entity • 8x Vestas turbines • Can power 8,000 households annually

Investment Focus

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Typical Investors: VC or early stage PE • Spend per megawatt of $50-75k • High project failure rate

• Land rights not secured • Power contract or tariff not

secured • Permits and licenses needed • Project design in process • No financing and subsidy

• Land rights secured • Power contract or tariff secured • Permits and licenses complete • Project design finalized • Interconnection rights granted • Financing in place and qualified for

subsidy

Risk & Return

Invested Capital

Development Risk No Development Risk

Development Phase Construction and Operations Phase

Typical Investors: Infrastructure or late stage PE • Spend per megawatt of $1.5-3.0m • Lower project failure rate as projects are not

subject to development risk

Sources: NREL Database, Publicly Available Information

• 21 investment professionals with deep sector experience

• Team formed in March 2011 when Jim Barry and a team from NTR plc. joined BlackRock

• 100+ years of aggregated renewables industry experience

• ~4GW of projects developed and managed in the solar and wind sectors across North America and Europe

• $7.5Bn in financings, including term debt, construction finance, turbine finance, revolving credit and refinancing facilities

• Resources and infrastructure of the world’s largest asset manager, with $3.79 trillion in AUM as of December 31, 2012

BlackRock – Experienced Renewable Power Industry Team

Jim Barry, CIO

Teresa O’Flynn, Director

Peter Raftery, Technical Director

Manuel Ramos, Vice President

Isabella Pacheco, Associate

David Giordano, Managing Director

John Morello, Director

Paul Reilly, Director & COO

Matt Ptak, Director

Saima Ahmed, Associate

Stephane Tetot, Associate

Rory O’Connor, Managing Director

David O’Brien, Director

Charlie Reid, Director

Sverker Akerblom, Vice President

Rael McNally, Associate

Keith Mangan, Director

Alan Synnott, Director

Investment Team Experience – 21 Industry Professionals Team Overview

Broad Spectrum of Highly Relevant Experience

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Project Finance

Resource Assessment

Consulting

Capital Markets

Risk Management

Operations

Audit

Asset Management

Conventional Energy

Infrastructure

Wind

Solar

Renewable Project Development

M&A

Investment Banking

Tax-based Energy Finance Note: Information is current of as of October 2013 and subject to change

Kelly Dallas, Vice President

Laura Mitchell Operations and Reporting

Brad Kavin, Analyst

Dedicated Renewable Power Investment Team Within BlackRock’s Platform

Special Opportunities Group Sacha Bacro Peter Leffler

Agam Sharma

Legal & Compliance Dan Ronnen

David Maryles Jeremy Agnew Rory Maclean

Adrian Hildrerly Gregor Craig

Equity Research 129 professionals

Fixed Income Research

98 Professionals

Fund Administration Michael Pungello K. Umashankar

Bill Schrader Grace Paulus

Risk & Quantitative Analysis

Jason Malinowski Kelly Cook

Other Support

Edward Finnegan-Finance Raymond Hoffman-HR Mike Ward-Insurance

Amy Edwards- Accounting Policy Linda Novak- Tax US

Arnab Mazumdar – BLK Solutions™

Jim Barry, CIO (19) David Giordano, Managing Director (19) Rory O’Connor, Managing Director (16)

Note: Numbers in brackets indicate years of experience. Information is current of as of July 2013 and subject to change

Investment Committee

BlackRock Resources BlackRock Alternative Investors – Renewable Power BlackRock Resources

Investment Team

Senior Investment Team

Kendrick R. Wilson, III BlackRock Vice Chairman

Matthew Botein, Managing Director Head of BlackRock Alternative Investors

Sacha M. Bacro, Managing Director Head of Special Opportunities Group

Brian Stern, Managing Director BlackRock Alternative Investors / BlackRock

Corporate Ventures

Robin Batchelor, Managing Director CIO of Natural Resources Equity Team

David Giordano Managing Director

Jim Barry, Chief Investment Officer, Managing Director

Rory O’Connor Managing Director

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BlackRock offers a unique combination of industry team, fiduciary culture & breadth of resources Strong governance and risk control is ingrained in the investment process

Dublin Teresa O’Flynn, Director (14)

Keith Mangan, Director (Risk Management) (15) Paul Reilly, Director (Ops, Admin & Finance) (26)

Alan Synnott, Director (16) Kelly Dallas (Operations) (20)

Laura Mitchell (Ops, Admin & Finance) (13)

New York John Morello, Director (21) David O’Brien, Director (13) Matthew Ptak, Director (11)

Manuel Ramos, Vice President (9) Saima Ahmed, Associate (8)

Rael McNally, Associate (7) Brad Kavin, Analyst (1)

London

Peter Raftery, Director (Technical) (19) Charlie Reid, Director (8)

Sverker Akerblom, Vice President (6) Stephane Tetot, Associate (6)

Isabella Pacheco, Associate (6)

The BlackRock Principles

We are a Fiduciary to Our

Clients We put our clients interests first

We are Passionate about Performance We are intensely focused on performing at the

highest levels

We are One BlackRock The best solutions come from a diverse

team of partners

We are Innovators Continuous innovation brings the best

to our clients

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Kelly Dallas – Vice President Technical Renewable Power Group

Professional education

Dip Mechancial Engineering ( Cape Technickon )

MBA ( Manchester Business School )

Professional experience

12 years Nuclear Experience 3 years CCGT Experience 5 Years Experience

Selected wind power references

Eco Wind Power – 3 years O&M manager, V42, V74, V52, G52, G80 Bord Gais Energy – 2.6 years O&M Manager, V52, V80, V90, N90, Z42,

E70, E82 and GE1.5 ( Negotiated ~ 250MW of O&M contracts) Speaker and Chair O&M Workshop IWEA – 2012 Speaker Nordic O&M conference - 2012 Speaker IWEA Spring conference - 2013

Working with your Turbine Suppliers

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Understanding O&M

Technical Overview Mechanical

Main Gearbox, Low speed shaft, Main BRG, Slew Ring, Yaw gears

Low Voltage Electrical Generators, Convertors, Elect Cabinets, Cables, Control system, Sensors

High Voltage Electrical Turbine Transformers Main Transformer

Switch gear HV Cables Protection systems

Static Var compensators

Structural Tower

Civil Foundations Roads

Safety and Ancillary Equipment's Emerg Descent kits Ladders

HV safety devices Lifts

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Skill sets required on Wind parks

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Mechanical Tribology ( basic level )

• Oil

• Grease

Gearing

Material Stengths – e.g. bolt torque

Couplings

Electrical & instrumentation Generator theory

Convertor theory

Instrumentation ( Thermocouples & RTD’s)

HV & LV reticulation systems - cables

Transformers theory, operation and protection

Protection systems

Blades Composite Materials

Engineering Support Root cause Analysis

• Electrical

• Mechancal

Civil Foundations

• Buoyant foundations – Monitoring – Maintenance

– Drainage • Non bouyant • Piled foundations

Roads & hardstands • Access and Egress • Crane works

Site Drainage and foliage • Water run off • Fire breaks

Security and Fire detections

Safety HV safety

Working at heights Safe work systems ( LOTO ) Emergency plans

• Injury within Nacelle • Injury within Tower

Operations and Maintenance Departmental responsibilities

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Health and Safety (Day 2 Day)

Day to day status reporting

1,2nd and 3rd level Maintenance

Client Management

Liaison with the 3rd party providers

Fault investigation

Contract Management

Health and safety Departmental responsibilities

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Safety training

Manage Safety critical equipment's and processes

Safety Review of Authorised Work Procedures

Compilation of Risk Assessment

Safety Review of 3rd party subcontractors – crane company etc.

Investigations

Reporting on Safety Stats and liaison to the Health and Safety Authority

Ensure safety legislation requirements are translated into day to day work processes.

Safety drill and emergency preparation procedures

Procurement Departmental responsibilities

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Purchase of tooling required across different platforms and models Spares part procurement ERP system management ( SAP / Maximo ) Liaison with Accounts on parts usage

SCADA management

Day to day management of field staff communication tools

MI and BI tool management

Management of General IT systems

IT Departmental responsibilities

Engineering Departmental Responsibilities

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Root cause analysis

Generate Authorised Procedures

Performance analysis

SCADA analysis

Contractual KPI monitoring

Field Support

Accident Investigation – Engineering aspects

Asset Management Overview

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O&M Department

Turbine, Foundations, Substations, HV& MV Cabling

Service and Maintenance

Owners

Owners / Lenders Stakeholder

Business Plan

Asset Objectives

Policy & Strategy

Risk Analysis Asset Plans

Performance & condition Monitoring

Department Objectives

Service Delivery

ASSET MANAGEMENT PLAN ENABLERS

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•Safety •Budgeting •Reporting – Performance , covenant •Roles and Responsibilities •Contract Management •Staffing ( Mix discipline ) •Training ( GWO, int (Mech, Elect, C&I), PLC & Safety ) •Recruitment

• KPI Metrics ( Production, Avail, Capacity factor, Untilzation factors )

• Contract KPI measures ( Avail ) • Balanced Scorecards • Data Warehouse (KKS or RDS PP based) • Interface to SCADA ( Historian ) • Equipment life trending ( Borescope GBX, Generator Health, Blades, Oil analysis, Service deviation trending)

• Weather forecasting – Wind, Sea conditions, Lightning

• ERP Planning & Spares systems( SAP, Maximo )

•WTG •Foundation / TP •HV voltage •Corrosion •Buildings •Marine •Safety Equipment • Testing – Ongoing • Takeover

• Commercial • Market • Production

• Technical • WTG • Foundation • HV cables • Main Transformer

• Safety • Market Regulations • Stakeholder – Int & Ext Risk

Analysis Asset Plans

Department Objectives

Performance & condition monitoring

Wind Park / Farm contractual overview

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Turbine Supply Agreement •Build cost is c €950K/MW ( EU Onshore Total cost is €1.3M/MW, Offshore Total cost is €3.9M/MW)

•Includes a Defects notification period: average is 2 years – 5 years

•Noise warranty •Power curve warranty

O&M contract •Term range for 2yr, 5ys, 15ys •Availability Warranty inclusive of LD’s and bonus

•Cost •c€20-26 k/MW •Var fee ~ 10% of upside when production > P75

•Parts repair obligation includes ex-works

•Performance obligations

Other Warranties / Contracts • Electrical • 2yr DNP

• Civil • 2yr DNP

• Escrow – Turbine detailed designs

Other contracts •Transmission System Operator •On-shore •Way leave •Land leases

•Internet Providers •Waste disposal •Planning obligation •License to Generate

Contract basics

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Cost

• Scope Of Works • Employers Risks /

Exclusions • Payment terms • Termination /

Break for Convenience

• Warranties, Parts & Service

• Limitation of Liabilities

Technical Performance

• Scope of Works • Service Standards • Acceptance of

Works • Force Majeure

Management

• Intellectual Properties

• Monitoring and reporting

• Obligations of Owners

• Assignments and Novation's

• Dispute resolutions

Different Business model bring different Gains/Losses

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Cost Certainty

- High

Fixed Prices ~ circa €20-26K/MW Variable price linked to Production Bonus structure linked to Availability Warranty Warranties LD’s – equal to annual fee or higher depending on leverage

Risk – Low

Spares Supply chain in place Repair obligation depends on what owner has purchased

Limited Visibility of

Turbine Equipment

status

Reports are basic Detailed Root cause not provided Data limited Issues are managed

Scope is generally limited to

Turbine only

HV Cables & Switchgear not included Foundations only during the TSA Roads

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Cost Certainty

- High

Fixed Prices ~ circa €10K/MW Variable price linked to Production Bonus structure linked to Availability Warranty Warranties -limited LD’s – equal to % annual fee

Risk – Medium

Spares Supply chain - OEM ~ 25%, Market ~ 75% Major component – who carries the risk? Repair obligation depends on what owner has purchased Intellectual Property Risk

Increased Visibility of

Turbine Equipment

status

Reports are Tailored Root cause can be limited as detail designs are not held by ISP Data limitations from SCADA

Scope is variable

HV Cables & Switchgear Foundations ??? Roads

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Cost Visibility

Increased Margin as bonuses and Var fees not paid, basic costs reduced to in-house labour costs LD’s – None

Risk – High

Spares Supply chain needed - Parts replacement agreement & Parts aggregator Technical knowledge – Service Support Agreement

Complete Visibility of

Turbine Equipment

status

Root cause limited by access to detailed info, but overtime this increases as knowledge increases Data limited by access to SCADA

Scope is all equipment

Turbines HV Cables & Switchgear Foundations Roads

So What should you be looking for ?

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Safety Record

and Excellent Systems

ISO 9001 ISO 15000 Safe system of work

Cost

Low cost option •Back up for in-house staff

•Fixed price Full cost Option •Servicing •1st line •2nd line •Balance of Plant

Parts supply chain

Consumables Minor parts Critical components Major components

Maintenance Management

System

Traceable records Linked to SCADA events

Technical Resource

Technical training Mech, Elec and PLC Safety Training

Partnership

Turbine technology Major Parts Critical components Major components

Meeting with your suppliers

Setting the Frequency of meeting is based on around a few concepts KPI discussions

On-going issues discussions

Long term improvements

Contract reviews

Official correspondence

Considerations

Internal Resources Staff Skill Sets and Experience

Data Analysis - bespoke analytical tools vs. off the shelf systems vs. OEM SCADA

Specific Knowledge

Understanding Performance Measurements

Data Sources

Tools

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Key Performance Measures

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What KPI’s are correct to watch – Management KPI’s

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Production – Act vs. Budget Revenue – Act vs. Budget Availability – Act vs. Budget Project Availability ( Avail – inclusive of BOP & Elect)

Turbine availability

Portfolio availability

Outage Time Planned

Unplanned

Man hours on site

Lost Production Unplanned Outage

Turbines

Substations

Cabling

Losses on Site Electrical Losses

Safety Metrics Lost Time Accidents

Near Miss reports

Audits

What KPI’s should Turbine Suppliers be watching

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Service planning Deviations from schedule and impact on Production

Re-work

Major works planning and downtime minimisation.

Mean Time between Events

Service Reporting Issue close outs

Spares Utilizations

Availability Actual vs. Contracted warranty

Downtime analysis

Safety Metrics Faults – recurring faults

What KPI’s are in the contract

Availability Safety Metrics Faults – recurring faults, serial defects Performance warranty The contract is effective only if it has the correct metrics in that drive your business needs. Chester L. Karrass, ‘In business, you don’t get what you deserve, you get what you negotiate. O&M Managers / Operations departments must be part of the negotiation team and ensure that the correct KPI’s are inserted into the contracts

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Contract Management requires Critical Thinking

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Define the Problem

Relevant from

Irrelevant

Reliability of source

Achieve Objectivity

Draw conclusion and create solutions

Source : E.Q. Librium – Yvette Bethel

Managing a defects Notification process

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Contractual Overlaps

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Start of TSA / EPC

Commercial Ops Date

Takeover and start of O&M

Decomm or Re-power

park

End of Warranty

Construction Operation

Defects Notification

Period

~25 Years

EPC/ TSA

MSA/ SSA

Inspection Scope/ Warranty Scope

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End of Warranty Scope of Work - Turbines

Generator and Convertors 1 Visual Inspection of the component 2 Bearings inspection 3 All insulation values - phase to phase, .. To earth, Rotor Insulation 4 Cooling Assembly 5 Brush Conditions 6 Resistance test on windings 7 Generator mounting 8 Thermo graphic assessment – Generator and convertors systems 9 Drive Coupling inspection

10 Vibration analysis assessment

Transformer

1 Visual Inspection of component 2 Partial Discharge assessment 3 Dissolved Gas Analysis (DGA) – only if Oil filled 4 Oil Quality Test – only if Oil filled 5 Transformer Condition Assessment 6 Thermo graphic assessment

Gearbox 1 External Visual Inspection of component 2 Endoscope of gearbox components (video, images) 3 Oil analysis 4 Vibration analysis assessment* 5 Partial counter analysis 6 Gearbox mounting inspection 7 Oil filtration/cooling system inspection

*Engineer with Level 2 Vibration Analysis Qualification required

Foundations 1 Review of foundation Documentation 2 Visual Inspection 3 Tower/foundation movement - dial gauge

End of Warranty Scope of Work – Elect & Substation

Transformer 1 External Visual Inspection 2 Partial Discharge assessment 3 Dissolved Gas Analysis (oil filled) 4 Transformer Condition assessment – Including but not limited to

a) Wind Temp gauge and trip assessment b) Oil Temp gauge and trip assessment c) Buchholtz relay – 1st and 2nd stage d) OLTC protection e) Oil level indications f) Pressure relief valves g) Traffo cabinets - heaters and thermostats working h) AC Hi Potential test i) FRA – Frequency response Analysis

5 Oil Quality test 6 Thermography and acoustic survey 7 Cables and Wiring labelled correctly

Neutral Earthing Resistor 1 External and Internal Visual Inspection

Standby Diesel Generator 1 External Visual Inspection 2 Diesel supply tank sample 3 Standby black start test & 8 hr. load test 4 Normal start

Building & Yard 1 External & Internal Visual Inspection 2 Doors – ext. and Into fire doors 3 Alarm system functional test 4 Fire Detection system functional check 5 Lighting – normal and Emergency lighting functional testing 6 Building cable sumps dry and ducting penetration sealed 7 Yard fencing none damaged

Selecting your inspection company

Selecting the correct company is as important as the inspection scope itself. What Criteria should you be looking at as part of the selection process 3 Key Aspects of any Project – Quality, Time and Cost

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Quality

• Competency do they have the knowledge to perform the inspection? Or is sub-contracting going to be used?

• Tools – does this company have the tools to perform the inspection

• Experience - how many projects have they done

Time

• Timing – will the inspection start

• Issue of interim and final of reports will these meet the deadline

Cost

• What is included • What is excluded

Process Overview

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Develop and Manage a Punch list Sheet for the Project

Divide the Project into 3 Areas Civil Electrical Turbines

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Meeting your suppliers

Share the reports with OEM’s as soon as they are final form. Collate the defects and send to OEM’s with a defects claim letter - as per notifications clause in

the EPC/TSA contract Calculate the commercial significance to the items claimed Meeting preparation Have a hard copy of the reports Have a copy of the list. Discuss the facts and expect the OEM to provide a written response on the agreed and on the

items not agreed.

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Availability

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Understanding the Bath Tube Curve

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Defining Availability

Availability is a useful parameter which describes the amount of available time. It is determined by both the reliability and the maintainability of the item. It is the ratio of the (t) values to the total time. Availability is, therefore: A = Up time Total time = Up time ) Up time + Down time = Average of (t) Average of (t) + Mean down time

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Availability in Contracts

IEC 61400-26 Is a dual view of both the Owners and OEMS’s views Time Based Availability vs. Energy Based Availability Time Based = Energy Based :

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Measured Availability t = 1 – ( Unavailable Production t

) x 100% _________________________________________________________________________________

Available Production t + Unavailable Production t

Normal Exclusions in Energy and Time based Availability

Items Generally in the O&M contracts that are deemed available by the OEM’s During any shutdown of a WEC/WTG for the performance of Maintenance Services in accordance of the

maintenance Services),retrofits, or inspections, up to a total amount of xx hours per calendar year;

While there is a disconnection or shut down due to wind speeds being below the cut-in speed or above the cut-out speed;

When there is a disconnection or shut down due to ambient temperatures above or below the operating temperatures set forth in the Technical Specifications for the WEC/WTG

When there is a disconnection or shut down due to automatic cable unwinding;

When there is a disconnection or shut down due to vandalism;

When there is a disconnection or shut down due to weather conditions that trigger the WEC's protective systems (including but not limited to the possible formation of ice, lightning, or tornadoes) and during any automatic or manual waiting or restart period thereafter;

When there is a disconnection or shut down due to the occurrence of a Force Majeure Event;

Fire, explosion, lightning which is outside the applicable operating or design parameters of the WTGs , hail storms or ice;

An emergency or safety issue on the Project Site;

ervice Provider being unable to perform or delayed in performing Site Services due to a change in Law;

SCADA System unavailability to detect and permanently log operating data of a Wind Turbine, or corrupt or loss of data.

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IEC 61400-26 Part 1

IEC standard explains in detail the views on Availability from both OEM and Owner Perspective Worthwhile reviewing the error codes in the O&M contracts with the IEC 61400-26-2

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Performance Measures in the contracts

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Organization that are veterans at contracting know that Success in the deal is not just about cost, but that the quality of the work that matters too. They also know it is more than getting value for money; its about making sure that the relationship between parties is productive and not dysfunctional. Furthermore they know that having a contract is not an end in itself ~ merely a means to achieve a desired goal or goals ( Cullen )

Performance under the contract should be seen in more than one dimension

In order to maximise performance on your project need to measure performance of the Services and manage the relationship.

Seeking a Win Win in an O&M contact will take time

Performance Measures are in the contracts

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•Scope Of Works •Employers Risks / Exclusions •Payment terms •Termination / Break for Convenience •Warranties, Parts & Service •Limitation of Liabilities

Cost

•Scope of Works •Service Standards •Acceptance of Works •Force Majeure

Technical Performance

•Intellectual Properties •Monitoring and reporting •Obligations of Owners •Assignments and Novation's •Dispute resolutions

Management

What type of O&M contract?

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Basic Extended Premium Full Service

Basic Extended Premium Full Service

Services • Preventive • Preventive • Small Corrective

• Preventive • Corrective

( Unscheduled Works)

• Preventive • Corrective • Availably

Guarantees Cost • Consumables • Consumable

• Spare Parts • Consumable • Spare Parts • Main Components

• Consumable • Spare Parts • Main Components

Source: Bloomberg New Energy Finance Wind Research Note

Applicable Laws Site Regulations Reference documents

• Technical Specification

• General specification

• SCADA Specification

• Wind Turbine Installation Manual

• Operations and Maintenance Manuals – Elect & Mech

• Road, carne and hardstand guidelines

Good Wind Industry Practices Good Engineering and Industry Practices

DIN EN 13306:2010-12 EN 50308:2004 Pas 55 Part 1&2 Availability Warranties Service Repair & Warranty Obligations Power Curve warranties Noise Warranties

What are the basic Service Performance measures

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Below is a list extracted from around different OEM’s around the globe:

Definitions

“Good Engineering and Industry Practices” means the standards, practices, technical methods and procedures conforming to law and the degree of skill, diligence, prudence and foresight which would normally be expected from a skilled and experienced service provider in the area of providing repair and maintenance services on wind turbines, including the International Electrotechnical Commission’s (IEC) recommendations for electrical works.

“Good Wind Industry Practices” means in relation to an undertaking, obligation or any performance of the services by the OEM / service provider the exercise of the degree or skill, diligence and prudence which could be reasonably and ordinarily be expected from a skilled and experienced maintenance service and/or repair contractors who is engaged in the maintenance, service and/or repair of Wind Turbine Generators and electrical works and civil works and associated equipment of a comparable size and complexity to the WTG works and who performs its services in a manner consistent with the Applicable law and all applicable industry codes, practices, standards and guidelines

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Production Performance

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Relative Power Curve

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Pareto Analysis

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Pareto Analysis

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WTG to WTG Monitoring

Project League Turbine Rankings – Rank and rate the performance on two aspects. Production and then Availability. Start to correlate and monitor Turbines that are working hard and those not. Value in correlating trends across turbines – Watch the gearbox Temp trend and Pitch angles along with Power and Wind Speed

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0

1

2

3

4

5

80

85

90

95

100

T1 T2 T3 T4 T5 T6 T7 T8Avail Prodcution

Balance Scorecard – driving performance

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Operations Improvements

Operations Improvements can take on an almost infinite number of different forms but will almost certainly align with one or more of the generic performances criteria Speed

Cost

Quality

Flexibility

Dependability

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Cost

Speed

QualityFlexibility

DependabilityCost

Speed

QualityFlexibility

Dependability

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Overall Strategic

Objectives

• Market Strategic objectives • Operations Strategic objectives • Financial Strategic Objectives

Functional Strategic measures

• Customer Satisfaction • Agility • Resilience

Composite Performance measures

• Quality • Dependability • Speed • Flexibility • Cost

Generic Operations performance measures

Balance Scorecard

The Balance Scorecard approach – as well as including financial measures of performance measurements systems, scorecard attempts to provide the important information that is required to allow the overall strategy of an organisation to be reflected in specific measures. It includes more operational measures of customer satisfaction, internal process, innovation and other improvements activities.

The balance scorecard attempts to bring together the elements that reflect a business’s strategic position, including product or service quality measures, product or service development times, customer complaints. Labour productivity etc. At the same time it attempts to avoid performance reporting becoming unwieldy by restricting the number of measures and focusing especially on those seen to be essential.

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Helping the OEM to see that this is your view on their company will help them

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Overall Strategic

Objectives

Internal processes

Customer performance

Measures

Financial Performance

Internal process performance

measures

Using the Balance scorecard

Guideline KPI’s must be linked to the performance and linked to what you need to address

with your OEM’s Rankings can be subjective however seek balanced views Gather the facts and be able to show where the improvement is needed. This is a scorecard and as it is not linked to the contract there are no commercial

impacts – be collaborative in your approach Question the scores from your team member – don’t allow one persons view

damage the long term relationship with the OEM

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What KPI’s to use in the BSC

Technical Performance Technical Competence

Responsiveness

Environmental Health and Safety

Management

Logistics

Project Management

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Examples

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Where to Next?

Build your own BSC

OR

Do Nothing

OR

Take a copy of the one provided and Improve on it!

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Insurance

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What can go wrong will

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What can go wrong will – Plan for it

Transformer failures Failures in Substation Lighting strike Weather induced events Fatigue/ Cyclical failure on rotating equipment Copper Theft Electronic equipment failures Minor failures that escalate to larger losses – e.g. A combination of failures resulted in an over-speed of the main rotor. Resulted in overloading of equipment, causing a fire and destruction of the all equipment in Nacelle and Blades!

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What is an insurance package built on

Insurance companies want to fully understand a risk to quantify the risk exposure. Disclosure is important

• Technology risk • O&M contracts • Project design and service history. • PPA contracts • Previous claim history on each project and subsequent improvements • Event history – notes and SCADA data • Site Assessment form .

Understanding how your company manages the assets will determine the amount of cover and the excess that will be carried by the project

Effective Transfer of Information n will allow insurers to control premium, ensure the correct insurances are in place and also to ensure superior claims management.

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Key components

Need to understand the following aspects of the project CAPEX cost of the Project vs. the Total Investment cost. Used to work out

replacement costs. Production estimates Key replacement costs from the OEM’s Lead times Deconstruction costs and timelines Construction times for new parts

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Replacement costs

The cost of replacing, repairing, constructing or re-constructing (whichever is the least) the property on the same site with new property without any deduction for depreciation. Property Insured includes:- Turbine towers, blades, gearboxes, generators and their associated transformers, switchgear, cabling, telecommunications devices and controlling computers, accessories and appurtenances thereto. Buildings and generator housings incl. fixtures and fittings sanitary ware and glass therein and thereon, extensions, annexes, outbuildings, walls, gates, fences, security apparatus/devices and hoardings Office machinery and equipment, roadways, hard-standings, foundations and ancillary works. Also you need to think about : Professional Fees / Legal Costs Debris Removal & Site Clearance Costs Roadways, hard-standings, foundations and ancillary works Public Authorities Emergency Services Charges /Fire Extinguishing Expenses

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Business Interruption

Business Interruption – consider Total Loss In the event of an insured catastrophe occurring at the site what is the total period required to rebuild when you take into consideration the following factors:- Site Clearance/Debris Removal Planning Applications Local Authorities requirements Professional / Legal Fees Would Procurement be required in the event of re-construction being required. If required to re-tender the works. How long would this take us? Lead in time on key pieces of Plant / Machinery Impact of Seasonal Access In working out the Business Interruption cover consider the max time that the Project might be without revenue

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Claim Handling

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Package Policies

Protect you interest and investment at every stage of the development Marine Cargo / Marine DSU EAR / DSU OAR TPL

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