sharc-a-palooza presentation –june 2019 · metered based on individual consumption. additionally,...
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SHARC-A-PALOOZA PRESENTATION – JUNE 2019
EVERYONE WANTS TO GO GREEN…UNTIL IT COSTS AN EXTRA DOLLAR
$3.0BTransaction Value
$1.3BAssets Under Management
$250MCommitted Capital
SUBTERRAPROJECT HIGHLIGHTSubterra has signed a term sheet with Metropia, Capital Developments, and RioCan to design and assess the feasibility of a geothermal energy system for their preeminent 11 Yorkville Avenue development project (across from the Four Seasons Hotel). This would be the tallest building in Canada to use a geothermal heating and cooling system to date.
Total Stories: 62Total GFA: 563,967 ft2
# of Residential Units: 635
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PROJECTHIGHLIGHToneGRID Project Overview
Forum is acting as financing partner and co-developer with oneGRID Corp. (oneGRID) to advance the Empire State Connector project, a 1,000 MW high-voltage, direct current electric transmission line connecting Upstate New York to New York City. Cheap and reliable Upstate New York power will be collected at a converter station built near Utica, and then will be transported via transmission cables that use safe and proven technology. These cables will be located in existing waterways to minimize the project’s environmental impact and eliminate any visual impact. The southern terminus will be located in New York City.
The project will provide an opportunity for the New York Independent System Operator to provide new sources of energy to power the largest city in the United States.
Visit http://www.onegridcorp.com/ to learn more about oneGRIDand http://www.empirestateconnector.com/ to learn more about the Empire State Connector project.
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SELECTTRANSACTIONS
“The Quad” at York University Student Accommodation• Forum and Campus Suites are JV partners in the
design, build, finance, maintenance and operations of a mixed use student housing project at York University
• First Phase has 812 beds in 486 units
Surrey Pretrial Service Center Expansion• This 180-cell high security pretrial corrections
facility, located in Surrey, B.C., is a DBFM project with Forum and Brookfield Financial as co-developers
• Procured by Partnerships British Columbia on behalf of the Minister of Citizens Services, this project provides a 30-year concession that extends to 2043
Ontario Power Generation Headquarters• 20 year DBFM project for Ontario Power
Generation’s Pickering HQ• OPG took occupancy of the property upon its
completion in early 2002 and it currently houses over 450 employees in the 100,00 sq ft facility
Ontario Paramedic Services HQ• 30 year Design-Build-Finance-Maintain (“DBFM)
contract for a 100,000 sq ft facility that serves as the HQ for the Ottawa Paramedic Services
• Received CABA BiQ Gold Award Award for Excellence
TransAlta Headquarters
• TransAlta Corporation completed a $66MM sale-leaseback of its global headquarters located in Calgary, with Forum
• The complex spans a city block, contains 3 buildings and totals 335,000 sq ft
Billy Bishop Toronto City Airport Pedestrian Tunnel• The pedestrian tunnel features a mechanized
underground walkway and will be powered by 100% green energy supplied by Bullfrog Power
• Approximately 1,100 people per hour can travel through the tunnel which won the Tunneling Association of Canada’s Canadian Project of the Year Award
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FUNDING METHODS
BANKS
• Onerous Terms• Slow Deployment
• Grants• Rebates• Incentives• Utility Programs• Complicated and
limited availability• Rigid & slow capital
• Nimble & Fast Capital• Partnership Structure• Business Experience• Forward Thinking
PUBLIC SECTOR PRIVATE CAPITAL
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LOW-CARBONTECHNOLOGIES
Subterra uses multiple low-carbon technologies including:
• Geothermal Exchange• Wastewater / Sewage Heat Recovery• Solar• Thermal Energy Storage• Conventional HVAC (Hybrid Systems)
• Heat Pump Leasing• Fan Coil Leasing
DEVELOPER CAPITAL AVOIDANCESubterra designs, installs, monitors, maintains and owns the geothermal system, reducing developer capital cost commitments and risk.
MEET STRINGENT GREEN BUILDING CODESIntegrating geothermal into the design of new buildings helps developers align with city planning goals and future building codes, expediting the building approval and development process.
INCREASE SALEABLE SPACEGeothermal systems allow developers to forego the installation of many conventional HVAC system components, freeing up extra saleable floor area.
ENERGY PRICE PROTECTION FOR RESIDENTSBuilding owners and residents pay one simple monthly rate for heating and cooling that’s locked in and only adjusted for inflation.
REDUCTION OF HARMFUL GHG EMISSIONSGeothermal heating and cooling systems are significantly more efficient than other conventional systems, capable of achieving energy savings between 60-80%.
THE SUBTERRASOLUTION
Building owners pay a fixed monthly fee to Subterra for heating, cooling, and hot water
Subterra’s System provides clean and renewable thermal energy to building owners
Developers contract Subterra to build, own, and operate a thermal energy system for their building
AIR CONDITIONING
SUBTERRA RENEWABLE
ENERGY
SPACE HEATING
DOMESTIC HOT WATER
DEVELOPER
$$$
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PROJECT STAKEHOLDERS
Developers
• Capital Savings• Incentives• Marketability• Increased saleable area• Ability to partner
• Ability to Partner• Ongoing work• Capital available to
help projects be completed
• Fixed Pricing• No Hidden Fees• Rates locked in• Environmental Benefits
• Provide Capital• Long Term Operations
and Maintenance• Business experience to
ensure projects get competed
• Partnership Opportunities
Engineers &Technology Providers Occupants Subterra
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CASESTUDY
Mixed Use – Residential, Office, Retail
Total GFA: 1,862,583 ft2
Site Size: 316,351 ft2
Residential Units: 2,098
Total Towers: 8
Total Combined Floors: 159
Renewables Used:
Geothermal Exchange• 306 boreholes to 650ft
Waste Water Heat Recovery• Domestic Hot Water
ZEROCAPITAL COSTS
$16,726,468 DEVELOPER BENEFIT
72% HEATING & COOLINGENERGY SAVINGS
2,732 TonnesANNUAL GHG REDUCTION
NO IMPACTTO CRITICAL PATH
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SAVINGSSUMMARY
Electricity
Heat Pump Electricity
Natural Gas
Make-up Water
Maintenance
Capital Reserves
Renewable Energy Fee
$ 49.65 $ 48.19
Baseline Geothermal
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Ex. Residential Monthly Heating and Cooling Bill for 800 ft2 Suite
HEATING & COOLINGOPERATING COSTS
5.9¢ / ft2MONTHLY RENEWABLE ENERGY FEE
*WHAT’S IN THE RENEWABLE ENERGY FEE?An all-inclusive fee covering the supply, operation and maintenance of the hybrid geothermal system. The fee includes the following:
• Operation, maintenance, commissioning and regular servicing of the geothermal field and related equipment.
• Operation, maintenance, commissioning and regular servicing of the hybrid components including cooling towers, boilers, circulating pumps, heat exchanger and others, as required by system design.
• Replacement and repairs of all geothermal equipment and hybrid components.
• All thermal energy (BTU’s) supplied by the field, uncapped and without surcharges.
• Building automation through state of the art controls that proactively manage the system and building temperature.
Both the HGE Fee and heat pump electrical costs can be sub-metered based on individual consumption. Additionally, Subterra does not charge initial connection or ongoing infrastructure fees.
Example reflects the marginal heating and cooling cost to the resident and is calculated by the building’s total operating cost divided by unit size.
2,732 TONNESANNUAL REDUCTION IN GREENHOUSE GAS EMISSIONS
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585
Passenger vehicles driven for one year
2,988,703
Pounds of Coal Burned
-or-
-or-
6,326 456
Barrels of Oil Consumed
Homes’ Energy Use for One Year
-or-
GREEN HOUSE GASREDUCTIONS
“Buildings generate nearly 40% of annual global GHG emissions.” – Architecture 2030
Be recognized as a thought leader in the industry, making a real impact on progress, climate change and community.
307,379
Gallons of Gasoline Consumed
