Greenbriar Sustainable Living Inc V.GRB

A couple of thoughts on the APER letter....

[whoami2u]

Page 6 of the APER hints at only two projects being approved. The letter states:

"PREPA’s submission to the FOMBs demands, evidenced when it moved the PREB to withdraw its approvals of the 16 projects, and selecting two projects amounting to 150MW, is proof of an undue and unwarranted intromission by the FOMB on Puerto Rico’s energy public policy."

If we do some math and list the shovel ready projects by size this is what we discover:

• CIRO One...90 mw
• Montalva......80 mw
• Xzerta-Tec...60 mw
• Atenas.........40 mw
• Resun.........35 mw
• Solaner.......35 mw
• Moravis........33.5 mw
• Blue Beetle 30 mw
• Caracol........30 mw
• SolarBlue....25 mw
• Guayama.....25 mw
• REA Vega.....25 mw
• REA Hatillo..25 mw
• Sierra............25 mw
• San Juan......20 mw
• Vega Baja.....15 mw

A maximum of 6 smaller projects could squeeze under the 150mw cap.

A maximum of 2 big projects (CIRO+Xzerta) would exactly equal 150mw.

Montalva PLUS 2 or 3 other projects could also create the 150mw.

Montalva and one other project would be over or under 150mw.

Natalie's math and APER's "hint" leaves no room for Montalva. CIRO+Xzerta get the win.

HOWEVER, Natalie requested the Mckinsey Matrix study to allow only the most qualified projects through, so I don't think the math would trump a highly qualified project like Montalva. I am sure there's a little leeway in that 150mw cap.

Another interesting point, one that Jeff has made in the past, is on page 3:

"PREPA should prioritize the development of these projects which provide a high degree of certainty for completion, while contemporaneously publish its request for proposals to further the procurement of less certain additional renewable energy. The certainty of the legacy projects is the result of having land/site control, full or advanced permits, assigned interconnection points and full or partial engineering. The upcoming RFP will demonstrate and highlight the scarcity of both suitable and permittable land and interconnection points."

So Natalie's desired competitive bidding process is wishful thinking. Available land is scarce on an island. I still believe, no matter what happens, Montalva gets built.... When is the only unanswered question.