Sterling Energy has significant wind, solar, hydro and biofuels project experience.
Wind Energy Experience
Development Stage Wind Project Acquisition and Due Diligence Support
Sterling Energy provided due diligence support for the acquisition of a development-stage 150 MW project. Our scope included a review of the wind resource assessment and reviews of the wind turbine purchase agreement and construction contracts.
Acquisition Due Diligence and Valuation of California Wind Power Project
Sterling Energy performed an acquisition due diligence assessment and valuation analysis of an 11 MW wind project in California. The project included 139 turbines rated at 65 kW and 95 kW. A detailed project operating and financial model was developed for valuation purposes. A development and financial analysis was performed for a 9 MW expansion of the project to take advantage of an unused portion of a power purchase agreement
Greenfield Development and Wind Project Acquisition Support Services
Sterling Energy performed greenfield development and wind project acquisition support services for a major generation company. Services provided include project feasibility assessment, development plans, development support, acquisition evaluation and due diligence.
Turbine Procurement and Project Execution Support for a 25 MW Wind Project
Sterling Energy has been retained to development procurement requirements and to support the evaluation of bids and the negotiation of wind turbine supply agreement for a 25 MW wind project in Alaska. Sterling has also been retained to provide project execution support and advice.
Wind and Biomass Project Advisory for a Large International Timber Company
Sterling was retained by a large international timber company to provide advice regarding biomass and wind project development. Sterling’s scope included the evaluation of various participation alternatives for the projects and general management advice.
California 220 MW Wind Power Assets Acquisition Assessment
Sterling Energy performed an acquisition assessment of 220 MW of operating wind turbine projects in California. The assessment focused on long term production and price forecasts, long term operating and maintenance costs, permit issues, repowering and asset valuation.
Valuation Assessment of California Wind Power Developer
Sterling Energy performed a valuation assessment of a California wind power developer with 38 MW of operating assets and 1,500 MW of wind power development assets.
Wind Project Development Valuation
Sterling Energy developed a valuation of a 1,500 MW wind project development for a large Japanese trading company.
Wind Project Due Diligence
Sterling Energy performed a due diligence assessment of a 24 MW wind project employing Vestas V-90 wind turbines for a large bank considering a tax equity investment in the project.
Large Wind Project Due Diligence
Sterling Energy performed a due diligence assessment for a large financial institution investor for a 283 MW wind project in the Southwest. The assessment included opinions regarding a new MHI 2.4 MW wind turbine being deployed on the project, production forecasts, operating costs and contract reviews.
Southern California Water District Wind Power Feasibility Assessment
Sterling performed a feasibility assessment for wind power associated with a Southern California water district.
Wind Project Repower Program Evaluation and Planning
Sterling Energy performed multiple repowering evaluation scenarios of the 164 MW Green Ridge power assets in the Altamont Pass area of California. We developed detailed repowering plans for each scenario.
Asset Management Development Program
A Sterling Energy principal developed the asset management program for the 18 MW Tierras Morenas wind project in Cost Rica.
Asset Management and Project Performance Improvement Assessment
Sterling Energy performed asset management program assessment and project performance improvement review for the 100 MW Le Nordais wind project on the Gaspe Peninsula in the Province of Quebec, Canada.
Project Business Model and Feasibility Assessment
Sterling Energy developed project a business model and performed a feasibility assessment for an 85 MW wind project in the western U.S.
Project Valuation and Sales Evaluation
Sterling Energy performed a project valuation of a 5 MW wind power project in the Great Plains. We also developed an offering memorandum for the project assets and evaluated potential sale proceeds.
Aftermarket Operating Services Assessment
Sterling Energy performed a complete assessment of the aftermarket operating service business of a major wind developer and turbine supplier. All aftermarket activities including maintenance, operations, parts, and other service products were evaluated and recommendations provided.
Operating Project Removal Assessment
Sterling Energy performed a wind turbine generator removal, scrap, and sales assessment for two projects totaling 30 MW of generation. The assessment was a key consideration in a strategic assessment of project options by the wind project’s owners.
Western State Wind Project Transmission Assessment
Sterling Energy performed a transmission availability and cost assessment for a proposed 200 MW wind project in the western U.S. The project included an assessment of the potential paths – both physical and contractual – from the project to target markets. The effort resulted in recommendations in order of priority for least cost transmission capacity for the project.
30 MW Wind Project Feasibility Assessment
Sterling Energy developed a feasibility assessment for a greenfield 30 MW wind project. The assessment focused on meteorological data, transmission, site access, equipment transportation, arctic operations and economic viability. A more recent engagement on the same project resulted in a detailed development and business plan.
Development, Transmission and Permitting Assessment
Sterling Energy performed an independent assessment of development assumptions and the transmission and permitting plans for a 1,500 MW wind project development in southern California.
Mexican Wind Project Bid Preparation
Sterling Energy led the development of a bid for a California utility request for proposals. The large wind project, located in Mexico’s Baja California area, was being developed by a European client.
Asset Acquisition and Transition Support for Kenetech Windpower
A Sterling Energy principal led the acquisition effort of the Kenetech Windpower operating assets in the Altamont Pass area of California for a partnership of M&N Windpower and FPL Energy. Assets included 164 MW of wind power projects, 400 MW of power sales and master land lease contracts. We performed a due diligence review, developed an acquisition pro forma financial model and led the operating and management transition effort.
Acquisition Due Diligence Review for Costa Rica Wind Project
A Sterling Energy principal performed due diligence review of the acquisition of the 20 MW Pesa Project in Costa Rica. The project employs the Kenetech KVS-33 wind turbine technology in a very energetic wind regime.
Solar Energy Experience
Large Solar Thermal Power Facility Strategic Assessment
Sterling Energy, teaming with Investment Management Advisors, was retained to conduct an operational and business strategic assessment of a solar thermal power business consisting of five 30 MW plants. The team evaluated alternative operating and maintenance, financial, contracting and other strategies to maximize value for the investors in the facility. The team made recommendations for action that were implemented by the investors.
Development Support for Large Thermal Solar Power Plant
Sterling Energy provided development support for a large solar thermal power developer. Sterling’s scope included site identification, resource assessment, fatal flaw analysis, and support regarding the acquisition of development rights. Additional services included review of transmission access issues, a review of technical and operational issues, and the development of a mobilization and O&M budget. The project has a purchase power agreement and is under development.
Operating Contract Review for Southern California Solar Thermal Projects
Sterling Energy reviewed for project owners the operating contract for five 30 MW solar thermal projects in southern California.
Strategic Assessment of Southern California Solar Thermal Projects
Sterling Energy performed for project owners a strategic assessment of five 30 MW solar thermal projects located in southern California. The engagement included the development of multiple operating, business and technical options for the facility.
Development of O&M Cost Estimate for Thermal Solar Developer
Sterling Energy prepared a comprehensive operating and maintenance estimate for a large power tower solar thermal project developer.
Feasibility Assessment for Solar Thermal Project
Sterling Energy performed an assessment of a project opportunity for an international solar thermal energy project developer. The engagement included an assessment of the site and the solar resource, identification and evaluation of system integration issues, exploration of land lease and power purchase terms and issues, and identifications of other issues related to the local utility.
Development Support for Combined Cycle Plant Utilizing Solar Thermal Power
Sterling Energy evaluated EPC options and negotiated EPC scope for a 600 MW proposed combined cycle plant that will utilize 50 MW of steam produced in an adjacent solar thermal facility and injected into the plant’s HRSGs. Sterling’s scope included the evaluation of EPC bids, negotiation of EPC scope and terms, and the integration of the power island, balance of plant, and solar field EPC contracts. Sterling also evaluated and provided advice regarding project schedule, site control and interconnection issues.
Solar Photovoltaic Project Proposal and Development Support
Sterling Energy led the proposal effort for a 250 MW solar photovoltaic project in Southern California. Sterling also performed site feasibility assessments, procurement RFPs and evaluated alternative technologies.
California Energy Commission Application Support for Large Solar Project
Sterling Energy led the development of the CEC permit application process for a large 500 MW plus photovoltaic project located in California.
Run of River Hydroelectric Experience
Acquisition Support for Two Run of River Hydro Plants in Canada
Sterling Energy supported a Canadian client during the successful acquisition of two run of river hydroelectric projects – one of which was not yet commissioned – and two waste heat recovery projects. Sterling’s management support activities on the hydro projects spanned a period of ten months. Sterling’s pre-acquisition support included data room review, visits to the hydroelectric plants, development of economic models and purchase price recommendations, and a due diligence memo. Post-acquisition support included review and negotiations related to the construction punch list, additional site visits, review and subsequent development of project compliance strategies and documents related to WECC mandatory reliability standards, analysis and recommendations related to purchase price adjustments based on performance test results, and direction and coordination of the independent engineer retained by the client.
Acquisition and Development Support for 20 MW Canadian Hydro Project
Sterling Energy provided a wide range of support during the successful acquisition of a 20 MW run of river hydro development project in Canada. Sterling’s pre-acquisition scope included interviews with the developer, a review of project information, development of an economic model and an indicative price recommendation. Sterling’s post acquisition scope included a wide range of management support over a period of six months. Sterling reviewed the project hydrology and energy data, which led to a formal review by an independent hydrologist and a subsequent adjustment in projected energy output and project returns. Sterling directed a review of the developer’s execution strategy, i.e., its proposed approach to engineering, procurement and construction. This review was supported by an assessment by an independent engineering firm that Sterling, acting on the owner’s behalf, engaged and managed. The execution strategy review led to changes in the proposed execution strategy and related bid documents. Sterling also visited the project site and met with several engineering and construction firms to explore alternate project execution strategies.
Acquisition Support and Project Management for 15 MW Canadian Hydro Project
Sterling Energy provided a wide range of support during the successful acquisition of a 50% stake in a 15 MW run of river hydro development project in Canada. Sterling’s pre-acquisition scope included interviews with the developer, a review of project information, development of an economic model and an indicative price recommendation. Sterling’s post acquisition scope included a wide range of hands-on management support over a period of six months. Sterling represented the client during the owner’s engineer selection process, contract negotiations, kick-off meetings and initial site visit. Sterling conducted a review of project hydrology that led to the appointment of an independent hydrologist and the subsequent review and adjustment of projected power and energy output. Sterling participated in the review of the proposed Impact Benefits Agreement with first nations bands. Sterling often acted as the client representative during regular project meetings and calls.
Acquisition Assessment for 16 Hydro Projects in the U.S.
Sterling Energy was engaged to support the development of an indicative bid for a fleet of 16 run of river hydro projects totaling 52 MW. Sterling’s scope included a review of seller information and the development of an economic model.
Acquisition Assessment for 48 Hydro Projects in Canada
Sterling Energy was engaged to support the development of an indicative bid for a fleet of 48 run of river hydro projects totaling 135 MW. Sterling’s scope included a review of seller information and the development of an economic model.
Acquisition Assessment for 29 MW Hydro Project in California
Sterling Energy was engaged to support the development of an indicative bid for a 29 MW run of river hydro project in northern California. Sterling’s scope included a review of data room documents, the development of an economic model and a due diligence report.
Establishment of NERC Standards Compliance Program for Hydroelectric Plant
Sterling Energy developed the NERC reliability standards compliance program for a hydroelectric plant in the west. Sterling’s scope included a gap analysis, development of program procedures and documentation, and the training of plant staff. Sterling also conducted an internal readiness audit.
Biofuels Energy Experience
Acquisition Support for Landfill Gas, Geothermal, Hydro and Biomass Portfolio
Sterling Energy provided due diligence support for the acquisition of a portfolio of alternative energy plants in the western U.S. This portfolio consisted of five biomass, eight landfill gas, one hydroelectric and two geothermal plants. Each project was evaluated in key areas including: leadership and management tools, plant performance, maintenance management, business management and administration, operations management, regulatory compliance, and health and safety. The process included benchmarking the performance of each facility. The results were collated into the “smart book”, a comprehensive project report that the buyer continues to use.
Coal Power Plant Acquisition and Biomass Conversion
Sterling was engaged to perform a due diligence assessment for the acquisition of a 50 MW coal-fired circulating fluidized bed power plant for conversion to tire derived and wood fuel. Sterling Energy managed the initial phases of the conversion program.
Acquisition Support for Multiple Biomass Power Projects
Over a period of 18 months, Sterling Energy performed due diligence assessments of six California biomass projects totaling 106 MW for a new entrant into the renewable energy business. One project was acquired.
Operations & Maintenance Reviews of Three Biomass-Fired Power Plants
Sterling Energy conducted annual operations and maintenance reviews of three California biomass projects for a major IPP. The audits focused on management practices, staffing issues, forced outages and lost generation incidents, recent inspections and repairs to the steam turbine generators and other major equipment, inspection reports, spare parts inventory, long-term major maintenance plans, the annual operating and maintenance plan, monthly production reports, and O&M budgets and actual expenses for commercial operations period.
Wind and Biomass Project Advisory for a Large International Timber Company
Sterling was retained by a large international timber company to provide advice regarding biomass and wind project development. Sterling’s scope included the evaluation of various participation alternatives for the projects and general management advice.
O&M Assessment for Large Biomass Plant in California
Sterling Energy performed an operational assessment of the 47 MW Colmac Biomass project located in southern California. The report identified a number of opportunities to improve the plant’s technical and economic performance.
Strategic Assessment and Turnaround of California Biomass Projects
Sterling Energy performed a strategic assessment of the Rio Bravo Fresno and Rio Bravo Rocklin 25 MW biomass plants. We categorized and performed root cause analyses of performance problems, developed an economic model that identified fixed and variable costs, reviewed the fuel procurement process and history, and solicited and evaluated options related to boiler improvements. Our recommendations included a combination of boiler improvements and the implementation of an “effective cost of fuel” management program. The owners made the investments that we recommended and engaged us to oversee certain aspects of the turnaround plan at one plant. As a result, that plant’s capacity factor reached an all-time high in the following year and remains well above its pre-assessment average.
Landfill Gas Operations Assessment
Sterling Energy performed an operations assessment of a 9 MMSCFD landfill gas-to-pipeline gas plant in the Gulf Coast area. Sterling identified opportunities to implement plant performance measures and to develop meaningful management reports to identify and quantify performance improvement opportunities.
Biofuels Technology Company Investment Evaluation
A Sterling Energy principal evaluated for a potential investor a proposed investment in an early stage biofuels technology company in Hawaii.
Biodiesel Project Due Diligence
Sterling Energy performed a due diligence assessment of a proposed investment in a 2.6 million gallons per year biodiesel project.
O&M Assessment and Turnaround Plan at 40 MW Biomass Plant
Sterling Energy was retained to review operational and maintenance issues impacting reliability at the Sanger Power and Feed Plant, a 40 MW of electricity and 30,000 tons per year of feed facility. The Sterling Energy team evaluated all plant processes, from fuel handling through electrical generation. A prioritized action list was developed and changes implemented resulting in a substantial improvement in plant reliability and performance.
Project Management Support for a Biodiesel-Fired Cogeneration Plant
Sterling Energy was brought in to take over certain aspects of a troubled biodiesel reciprocating engine cogeneration project already under construction. Sterling directed the final stages of construction to get the project back on schedule and redesigned the fuel system so the plant could burn 100% biodiesel. In addition, Sterling managed the plant startup, set up a system for managing contentious warranty claims, and advised the client on the renegotiation of the steam sales agreement.
Transmission Interconnect and Other Development Support for a Biomass Plant
Sterling Energy provided guidance regarding interconnection and transmission issues, prepared and submitted the project’s interconnection application to the CA Independent System Operator, and met with the local utility regarding this biomass power plant development. In addition, Sterling prepared and submitted to the California Energy Commission the biomass power project’s application for precertification as a renewable power source.
Development Support for Biosolids Gasification Process and Power Plant
Sterling Energy developed a mass, energy, and economic model of a proposed integrated biosolids (sewage sludge) gasification process and power generation facility.
Owner’s Representative for the Resurrection of a Troubled Biomass Facility
Sterling Energy advised the owners regarding the rehabilitation of a troubled biomass power generation plant in California. Our scope included an analysis of the fundamental business proposition and advice regarding the scope of the restoration. We approved, on the owner’s behalf, restoration expenditures and we recommended equipment repairs and changes based on findings during the project. As the station re-entered commercial operation, we provided a senior manager with extensive experience in biomass plants to augment the owner’s management team.
For more information please contact Ron Fawcett or Dave Morgan.