MEETING AGENDA

Welcome Ratification of Board, Bylaws and Past Acts Question and Answer Admission of Members Vineyard Power Financial Overview Overview of Regulatory and Siting Issues Question and Answer

Directors & Officers

•  Ted Bayne, Director 8/12 •  David Damroth, Director 8/11 •  Ted Danson, Director 8/11 •  Sue Hruby, Director & Secretary 8/11 •  Paul Pimentel, Chairman & Treasurer 8/12 •  Susan Wasserman, Director 8/12 •  Richard Andre, President

•  Approve What We Have Done •  Directors, Officers & Staff •  Initial Structure •  Advisory Committee for Member
Input

Ratification

•  By-laws to Amend in August

Formal Declaration to Admit Vineyard Power Members

 “As the duly appointed and authorized Secretary of the Cooperative, I hereby

present the Board of Directors of the Cooperative with a list of the members of the Vineyard Power Co-operative.  I hereby formally admit each person whose name appears on this list as a member of the Cooperative. Each member is admitted with the rights and obligations of members under the Bylaws of the Cooperative adopted by the Board of Directors.  By becoming a Member of the Cooperative, each person on this list accepts the authority of each duly appointed member of the Board of Directors and each Officer of the Cooperative and accepts and ratifies the acts of such officers and Directors in connection with the creation of the Cooperative. Each member of the board of directors shall serve their terms of office until such time as the Directors and Officers may be replaced by a vote of the Members at the annual meeting of the Members to be held each August. The August meeting shall be the first annual meeting of the members.  At that meeting, the members will have the opportunity to vote on a new slate of three directors.The members will also have the opportunity to recommend to the board of directors amendments to the bylaws of the Cooperative.”

Richard Andre
Vineyard Power President

Vineyard Power Update

Richard Andre

Vineyard Power 2010 Sources/Uses Overview
 Sources ($ thousands) Uses ($ thousands)

    Membership                               255 Payroll                                    168         Contingent Promissory Notes      74     Consultants                              63     VEP Start-up Support                   40     Communication                        23 Total Income                                 369     Rent/Utilities/Travel                  13 Total Expenses                            267 Surplus Funds                            102

Vineyard Power Financing Requirements/Sources
( $ millions) Pre- Development Financing                                      Leasing, Permitting, Environmental Studies Wind Monitoring (2012)                                                                   Down payment on capital equipment    and pre-construction expenses (2013)               Project Financing                                                   USDA Rural Utility Service Loan (2015)                       Sale of federal tax credits to equity investor (2014)    Sale of Renewable Energy Credits (2015)                82 57 33   17

5

12 172

Dave McGlinchey

REGULATORY ISSUES FOR FEDERAL AND STATE OFFSHORE WIND SITES

Outline

Offshore Wind in Federal Waters

Offshore Wind in State Waters

Timeline

Offshore Wind In Federal Waters
Cape Wind began the process in 2001 Energy Policy Act of 2005 transferred oversight to Minerals Management Service MMS issued leasing guidelines in April 2009 with four leasing options, determined after RFI “Multi-factor auction,” which favors organizations with community ties or community benefit. Draft MMS map suggests commercial developments will begin 9 miles offshore Draft suggests “innovative” developments (in terms of technology or ownership) between 3 and 9 miles

Offshore Wind in State Waters
MA Ocean Management Plan developed by the Executive Office of Energy and Environment Final Plan issued Jan 4, 2010 Designates areas south of Cuttyhunk and Nomans Land as renewable energy zones Gives Martha’s Vineyard Commission authority to determine “appropriate scale” in the Nomans Land zone Gives Martha’s Vineyard Commission authority to approve up to 17 offshore wind turbines outside those renewable energy zones

Probable Timeline
Federal Permitting

State Permitting

Tyler Studds
Vision Fellowship Vineyard Energy Project

Decision Making for Community Owned Offshore Wind Site Selection

Tyler Studds

Context for Community Owned Offshore Wind
• 

Realization of an idea long in the making Accelerated by State and Federal planning processes energy

• 

-  Siting for renewable -  Large local Impact
• 

Community ownership as a Strategy to minimize conflict
-  Local

benefits -  Local control -  Site selection

A Complex Decision Problem
• 

Understanding the problem Multiple factors Complex trade-offs Conflicting values

• 

Deciding on a solution Individual Group

•  How

to move from: Individual preference? to: Group choice?

Structuring the Decision
• 

Combine multiple elements to address different aspects of decision
GIS to input, analyze, display geographic data Multi-criteria Decision Analysis framework

• 

Site Selection Tool Design based on similar siting questions (Facilities location, transportation, urban planning)

• 

Member forums to address deliberative aspects
Elements will inform and reinforce one another

• 

How will different aspects of the decision be handled?

Member Forums Define decision Determine criteria Debate options Final decision Site Selection Tool Perform complex analysis Explore the problem Understand trade-offs Visualize preferences

What do we hope to gain from this process?

• 

Acceptable sites for development

Siting criteria as a statement of preference for other applications
• 

Your Role

It’s an important decision •  Get educated •  Get involved
• 

The more we put in the more we get back

Vineyard Power 2010
Accelerate membership campaign Establish an active membership volunteer base  Contingent Promissory Notes is a vehicle for members to invest in the Co-operative Preparation for the Annual Meeting     Enhance the role of the Advisory Committee     Establish a nomination process and qualification guidelines for prospective directors     Establish a process for membership voting     Election of 3 new directors to the Board     Prepare membership for site selection during 2010

Load Management Update