Deepwater Wind - Energy Highway

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! ! additional power will be diverted to New England. During hours when the output of the Wind Plant is less than 600 MW, it will be possible to source the difference from ISO- NE. The capacity supplied by the wind farm will qualify as Zone K capacity. Additionally, since NELI will have firm withdrawal rights from ISO-NE this will enable Zone K to receive up to a total of 600 MW of new Zone K capacity. Project Status. DWEC is further advanced than any other utility-scale offshore wind farm capable of serving New York, due to the advanced ocean planning efforts undertaken by neighboring states and Deepwater’s substantial investments in siting and designing the Project. Accordingly, Deepwater has commenced Project permitting and detailed design and engineering work and expects to have secured site control, requisite permits and finalized design and engineering work by Q4 2013. An award by LIPA of a Power Purchase Agreement for DWEC could materially accelerate the site control and permitting process. The first construction season is expected to occur in Q2 and Q3 2016 and the second construction season in Q2 and Q3 2017. Deepwater proposes to begin supplying Zone K with 600 MW of firm capacity via NELI beginning on May 1, 2017, with the renewable energy generation brought on line in two phases, in 2017 and 2018. ! 9
! III. Project Justification & Benefits ! Deepwater’s Project provides a number of pricing and environmental benefits for both Zone K and the rest of New York State. Reduced Congestion in Zone K and Zone J While a new offshore wind farm may have a basic revenue requirement that is greater than that of some conventional resources, this premium is offset by offshore wind’s greater long-term system benefits. Most notably, wind projects are “price-takers” in the NYISO’s Day-Ahead and Real-Time hourly energy markets in which the supply of very low marginal cost power from wind displaces the most costly fossil-fired generation and thus reduces the market-clearing price for every hour the wind units are on line. With this effect, often referred to as the merit order effect or price suppression, average wholesale power prices are lowered for all ratepayers in all of New York and especially in the specific zone into which the windfarm is delivering power. ! 10
Page 2 and 3: BY COURIER AND ELECTRONIC MAIL May
Page 4 and 5: ! Executive Summary ! Enabled by th
Page 6 and 7: ! ! A final longer-term phase of de
Page 8 and 9: ! ! The Board of Managers also incl
Page 10 and 11: ! II. ! Project Description The Dee
Page 14 and 15: ! ! As estimated by the New York St
Page 16 and 17: ! Environmental Benefits ! Improved
Page 18 and 19: ! ! Sources of Financing The projec
Page 20 and 21: ! ! approved Private Aid to Navigat
Page 22 and 23: ! VI. Interconnection ! Deepwater h
Page 24 and 25: ! VII. Technical ! The Project’s
Page 26 and 27: ! VII. Construction & Design Projec
Page 28 and 29: ! ! VIII. Socio-economic Considerat
Page 30 and 31: ! IX. Project Status ! On March 31,
Page 32 and 33: ! XI. Other Considerations ! Future
Page 34: ! ! Interconnections In New York, S

Deepwater Wind - Energy Highway

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