Vayu is very excited about its repowering agreement with Cycle Development, LLC to “Repower America”. Under the terms of the December 2020 transaction, Cycle acquires capacity for 20GW of the Vayu Technology Platform for ten years (to support acquisition of repowering rights to US wind farms), with qualifying Safe Harbor payments (for production tax credit qualification) and other considerations.
Cycle’s four year implementation period for repowering 20GW of US wind farms kicked off in December 2020 with Vayu Cloud’s public data optimization of 383 US wind farms to qualify specific wind farm repowering rights for Cycle. The Vayu Cloud public data optimizations were completed in Q1, 2021 with 50% of the wind farms automatically qualifying as repowering rights acquisition targets with 4.5% or better AEP gains forecast (Note that the collective gains for all 383 wind farms averaged about 5% in the the 5 years optimized, 2015-2019).
Wind farms qualifying for repowering rights acquisition will have the opportunity to participate in the Repower America initiative. Term sheets for the acquisition of repowering rights will be made to wind farm management on or before July 1, 2021. Those wind farms that have not qualified under the initial optimizations will have the opportunity for reconsideration by providing wind farm historic SCADA for further optimization by Vayu Cloud.
The Repower America term sheet will include proposed payment for ownership of repowering rights, plan for implementation of the Vayu Technology Platform, including baseline analysis and development of the Cycle plan for hardware repowering (which will include proposed systems and hardware modifications, financial and PTC strategies and targeted wind turbine replacement plan), and the proposed execution of the Plan, including all costs.
If your wind farm is interested in participating in Repower America, connect and send us a message!
Best,
Jim Kiles
CEO, VayuAI Corp.