HomeMy WebLinkAbout02272012 Energy Study Committee MinutesDraft minutes of The ESC Wind Turbine Risk Assessment Subcommittee meeting on
Feb 27th., 2012, 1.30 pm, Public Meeting Room, 2 Fairgrounds Road
The meeting was called to order by Chairman Peter Morrison at 1:33 pm. In attendance
were subcommittee members John Stover, Ken Blackshaw, Frank Kaminski, and Whitey
Willauer. Also present were Selectmen Rick Atherton, Bill Tornavish, Jason Graziadei,
and Lauren Sinatra.
The reading of the minutes from the previous minutes was waived and motion was
made, seconded, and approved to accept them.
Peter Morrison’s opening statement pointed out that our task today would be to agree
on the cover memo that will transmit our report of Assessed Risks to the Finance
Committee.
To whit, the following motion was made by Ken Blackshaw, seconded by John Stover,
and passed unanimously.
This Subcommittee (reporting on behalf of the Town’s Energy Study Committee)
is highly confident that the information set forth in this Final Report furnishes
an accurate and reliable basis for decision making. We do foresee continuing
minor refinements going forward as data are updated, and we stand ready to update
this Report as appropriate, but such refinements will not alter our conclusions and
recommendations to you – as follows:
We have used a statistical analysis of wind speed data and computer software to
produce an estimate of annual energy from the power output curve of the Power Wind
900 KW turbine. Best practices analysis provides a strong basis for anticipating that a
wind turbine at the Madaket site can produce the requisite performance characteristics
and reliability that will produce positive cash flows throughout the 20 year planning
horizon.
The project’s inherent economic uncertainties pertain not to whether the project
will produce a positive cash flow, but rather to the magnitude of that positive
cash flow. These inherent uncertainties as to magnitude might trouble large-scale
investors seeking a tightly estimated “risk-reward” metric. The Town, by contrast, needs
assurance that this project will produce positive cash flows throughout its projected
twenty-year project life; their magnitude is secondary.
The Subcommittee has reached unanimous agreement that a Madaket Wind
Turbine will produce significant positive cash flows throughout its projected
twenty-year project life.
Respectfully submitted by Ken Blackshaw, Secretary Pro Tem