Community Solar Joe Barra

Portland General Electric’s Solar Shares

Building on Success Date: April 30, 2014 Presenter: Joe Barra

© 2012 Portland General Electric. All rights reserved.

Portland General Electric  836,000 customers  2,596 employees  Service territory population 1.7 million, 45% of state’s population  52 cities served  4,000-square-mile service area

WA

OR

Beaver Port Westward Port Westward Unit 2

WASHINGTON OREGON

Colstrip 3 Colstrip 4 Columbia River

Portland

 2,870 MW of generation  Summer peak load of 3,950 MW (2009)

Coyote Springs Biglow Canyon Boardman T.W. Sullivan Bull Run River Mill Faraday North Fork Oak Grove

Salem

 Winter peak load of 4,073 MW (1998)

(Montana)

Pelton Round Butte

(Madras)

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Renewable Power Program

 More than 101,000 customers enrolled in Green Source® or Clean Wind®  12.8% of all PGE customers  Ranked #1 in the nation by NREL:  Total renewable power sales  Total customers  % of customers enrolled

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Emergence of Solar Solar Growth PGE Service Territory

 ProLogis I & II 3.5 MW • Largest rooftop project in NW

 Solar Hwy I .1 MW • First solar highway project in US

 Solar Hwy II 1.75 MW • Largest solar highway project in U.S.

 Amity 2.8 MW PPA • Largest ground-mounted project in NW

 Outback: 5.75 MW PPA

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Solar Shares Business Proposition Concept  Customers purchase kW ‘shares’ of the output from a large, local, solar project  Can size the purchase similar to deciding how much solar to install on a home (e.g. equivalent to a 1, 2 or 3-kW solar panel array)  Pay an additional $5.00/kW each month  PGE lets them know how much of their energy usage is solar power and how it reduced their carbon footprint

Customer Research  As many as 23,000 customers are expected to enroll in Solar Shares  Some customers will purchase multiple units  66% of the customers enrolling in this option will be new to PGE’s green power program

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Solar Shares Resource Development  Resource • Develop up to 5.4 MWs of solar at Bethel (former PGE generation site) in Salem, OR.

 Costs • Total project cost (bank purchase price) ~ $15 M o Project design and build = $2.50/watt

 Financial Structure (Sale/leaseback) • PGE acts as developer • Bank absorbs the tax benefits • PGE leases the system until the tax benefits are exhausted • PGE buy-back

 Benefits • Competitively positions PGE to fill an unmet need in the market • Can be expanded depending on market reception 6

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Timeline for Solar Shares Program Permitting & Environmental 2/1/2014 – 8/1/14

EPC & Financial closing

Design & Build 10/1/14 – 8/1/15 Sale & Leaseback COD

2014

2015 - 2021

2/18

Biz Case Dev Finance & Preliminary Committee Funds Approval

Solar Shares Program Deployment

RFP & Eng PASS Development

PGE ownership Year 6

2013

Development Phase Construction Phase System Operational

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