REDUCING CARBON
EMISSIONS ONE STEP
AT A TIME

Footprint Power is dedicated to helping owners of older coal- and oil-fired power plants – and the communities that host them – transition these facilities and sites to other productive purposes.

We are independent power industry veterans, adept at evaluating complex situations, identifying opportunities and structuring solutions to address challenges. We are active listeners and straight talkers. Most of all, we are concerned citizens, deeply committed to our planet's future and to doing what we can to reverse our industry's impact on the global community.

OUR HISTORY

The last decade or so has seen some major upheavals in the power industry. First, in the late 1990’s, many states undertook restructuring programs that would see the dismantling of vertically-integrated utilities and the creation of a market-based generation sector. These programs were intended to reduce costs for consumers by creating incentives for the development of efficient new generation. Unfortunately, as natural gas prices vaulted ever higher, the aspirations for the new market clashed with the energy realities. The result was a combination of high prices for consumers and the bankruptcies of many of the new generators – certainly not what was intended.

During this same period, with a growing recognition of the true environmental and economic costs of conventional generating facilities, many states developed Renewable Portfolio Standards and various state-sponsored programs to encourage energy efficiency, demand-side management and renewable generation. With the added impacts of Federal programs such as the Investment and Production Tax Credits, solar and wind projects in a wide-range of sizes were developed across the country.

As the first decade of the new millennium came to a close, more disruptions were at hand. With the financial melt-down of 2008 and the nearly simultaneous development of new gas resources in our nation’s shale deposits, natural gas prices fell to new lows.

This new price environment, together with ever more stringent requirements on generating facilities, began to place significant competitive pressure on coal- and oil-fired facilities and many owners of these facilities began to seriously consider shutting the older and least efficient of them down.

Having worked in the years since restructuring on the development of new natural gas-fueled facilities, the economic analysis of old coal-fired facilities and the integration of renewable projects, Peter Furniss and Scott Silverstein found themselves well placed to create a company dedicated to serving the needs of stakeholders in the face of these new economic pressures. The result, in October 2009, was Footprint Power LLC, a completely new platform engineered from the ground up to respond to the unique environmental, economic and physical implications for owners, communities, grid operators and other stakeholders of shutting down coal facilities.

Our first project is in Salem, Massachusetts where we will continue to operate the coal- and oil-fired Salem Harbor Generating Facility until its scheduled shut-down in May 2014 and will replace it with a state-of-the-art combined-cycle gas turbine that will come online by June 2016. This new facility will provide an unprecedented level of efficiency and flexibility that will provide a bridge to a future of higher and higher levels of demand-side management and renewable generation and a gradual transition to a marketplace that relies on gas-fueled facilities as back-up power to be used only as needed.

OUR APPROACH

We recognize that not all situations are the same and owners and host communities of older power plants will have different needs depending on their unique circumstances. In light of this fact, our first step in assessing any situation we encounter will be discussions with each of the stakeholders – the owner, the local political leadership, community and environmental advocates, local utilities and system operators – anyone with an interest in the future of the facility and the site.

After gathering up as much data as we can about the site, we can assess the needs of the stakeholders and can evaluate how Footprint can add value to the situation.
At this point, Footprint would be in a position to take its next steps: determining the optimal environmental outcome for the facility and the site and establishing whether the fundamental requirements for re-development such as demand and infrastructure were present (or could be created cost-effectively), whether the proposed use was financially viable and whether the project could be structured to achieve the intended results. This is not a linear process, since we will be continuously checking back with our stakeholders to ensure that the results we are working to achieve really meet the stakeholders’ needs. Our development cycle looks a little like this:
Peter Furniss
CEO
Scott Silverstein
President & Chief Operating Officer
Paul Ehrenzeller
Chief Financial Officer
Peter Nixon
Managing Director
Peter Furniss has been structuring, financing and restructuring energy and infrastructure projects and asset sales for over 15 years. While at NRG Energy, Mr. Furniss structured and negotiated key elements of NRG’s acquisition of Bluewater Wind as well as NRG’s award-winning $500 million financing of peaking facilities in Connecticut (through the GenConn joint venture with The United Illuminating Company). Prior to joining NRG, Mr. Furniss was General Counsel of Tamuín International, a subsidiary of Exelon Corporation, where he oversaw the disposition of a number of power plants, including two pet coke fueled plants in Mexico. Previously at Sithe Energies, he was responsible for the legal aspects of the 2001 financing of the 3,000MW Boston Generating portfolio. Mr. Furniss began his professional career as an associate in the Project and Structured Finance group of Debevoise & Plimpton.  He holds a B.A. summa cum laude and an M.A. from Columbia University and a J.D. magna cum laude from Harvard Law School.
Scott Silverstein has over 17 years of experience in energy regulation, M&A and finance in the legal, corporate and private equity sectors. Mr. Silverstein was Senior Vice President, Regulatory Affairs at both K Road Power and EBG Holdings, where he directed all aspects of the regulatory affairs related to the companies’ 3,000 MW portfolio of natural gas and oil fired power plants in and around the city of Boston. Mr. Silverstein also conducted due diligence on a number of fossil fuel fired facilities and was a part of the senior management team that successfully merged EBG Holdings into US Power Generating Company in 2007. Prior to joining K Road, Mr. Silverstein was Vice President, Chief Regulatory and Asset Optimization Counsel at Sithe Energies. Mr. Silverstein joined Sithe from the law firm of Hogan & Hartson LLP, where he was an Associate in the energy practice of the firm’s Washington, D.C. office. Mr. Silverstein holds a B.A. magna cum laude from Boston University and a J.D. cum laude from the Georgetown University Law Center. In April 2010, Mr. Silverstein was elected to and began serving a 3-year term on the Board of Education of Springfield, NJ.
Mr. Ehrenzeller has over 18 years of experience in the independent power industry. Prior to joining Footprint Power, he was Senior Vice President & Chief Financial Officer of K Road Power and EBG Holdings, with 3,000 MWs of natural gas and oil fired generation in and around the city of Boston.  Mr. Ehrenzeller was a part of the senior management team that successfully merged EBG Holdings into US Power Generating Company in 2007. From 1993 through 2005, he was Vice President and Controller of Sithe Energies. Mr. Ehrenzeller began his professional career with Ernst & Young, where he served public and privately owned audit clients in the utilities, media and entertainment and shipping industries. He is a certified public accountant and received his Bachelor of Science cum laude in accounting and economics from New York University.
Peter Nixon has more than 20 years of experience in the telecom and energy spaces. Most recently as Vice President Business development and Finance at Tioga Energy, a leading North American solar developer. At Tioga he had a key role in Project Finance as well as leading the company’s Canadian development activities. He closed over $150 MM of US construction and permanent financing facilities. He was also instrumental in obtaining 20 MW of utility scale solar FIT contracts in Ontario. Previously he self-funded, developed and sold several Greenfield wind projects in Ontario, the largest sold to a $20 billion energy provider. Mr. Nixon was also General Manager of MFN (now AboveNet) Canada, where he sold the company’s assets to Telus, a major Canadian telecommunications company. He also acted as Chief Operating Officer of Cabletel, the largest Canadian supplier of broadband telecommunications equipment. Mr. Nixon holds a Masters in Business Administration from the INSEAD School of Business, and a Bachelor of Engineering in Engineering Physics from the Royal Military College of Canada.
Marcia MacClary has more than 35 years experience in community affairs, crisis communication and government relations. In her role as Director of Public Affairs for Hess LNG Corporation, Ms. MacClary worked to support media outreach and created public outreach and marketing materials consistent with permitting requirements for federal, state and local agencies. Prior to joining Hess, she managed community affairs and communications for Sithe Corporation/Exelon Corporation during the initial purchase of the Boston Edison generation assets and the expansion of those power generation facilities in Massachusetts. Additionally, she was responsible for conducting preliminary research and outreach into other power generation development locations in the United States and Canada. Marcia’s past experience also includes public affairs consulting with Cabot Corporation and Monsanto Corporation. Ms. MacClary holds a bachelor’s degree from Tufts University, a master’s degree from Boston University, and is a member of the Public Relations Society of America.
George Wilson has over 35 years of experience in the electric utility business. Prior to joining Footprint Power, he was first the Development Manager (under Sithe Energies, Inc.) and then the General Manager (for subsequent owners) of Fore River Station located in Weymouth, MA. Mr. Wilson has been active in development, permitting and engineering electric generating facilities for a number of companies including Sithe Energies, Inc., Bio Development Corporation and Stone and Webster Engineering Corporation. Prior to entering the power generation business, Mr. Wilson worked in the Marine Transportation field. He was a startup engineer for General Dynamic’s tanker program in Quincy, MA and worked for the American Trading & Transportation as a Merchant Marine Officer. Mr Wilson is a graduate of Massachusetts Maritime Academy and has a degree in Marine Engineering. He is also registered as a Professional Engineer (Mechanical) in New Hampshire and Massachusetts.
Donna Roberts has over 20 years in the independent power industry. Prior to joining Footprint she was the Director of Finance and Controller for the Boston Generating Assets, a 3,000 MW portfolio of natural gas and oil fired plants in the Boston Metro area most recently purchased by Exelon. Ms. Roberts worked with the BG portfolio under various owners from 1998 to 2012. Previously, Ms. Roberts was the Controller for Bio Development Corporation. During her tenure with Bio Development the company developed, financed and constructed the L’Energia facility, a 90MW combined cycle natural gas and oil peaking QF unit in Lowell, MA. Ms. Roberts began her professional career in public accounting working with various construction, real estate investment and not for profit clients. She is a certified public accountant and received her Bachelor of Science degree in accounting and her Associates in Science degree in management from Bentley College.
Marcia MacClary
Director of Public Affairs
George Wilson
Director of Development
Donna Roberts
Director of Finance

TEAM

Peter Furniss
CEO
Scott Silverstein
President & Chief Operating Officer
Peter Furniss has been structuring, financing and restructuring energy and infrastructure projects and asset sales for over 15 years. While at NRG Energy, Mr. Furniss structured and negotiated key elements of NRG’s acquisition of Bluewater Wind as well as NRG’s award-winning $500 million financing of peaking facilities in Connecticut (through the GenConn joint venture with The United Illuminating Company). Prior to joining NRG, Mr. Furniss was General Counsel of Tamuín International, a subsidiary of Exelon Corporation, where he oversaw the disposition of a number of power plants, including two pet coke fueled plants in Mexico. Previously at Sithe Energies, he was responsible for the legal aspects of the 2001 financing of the 3,000MW Boston Generating portfolio. Mr. Furniss began his professional career as an associate in the Project and Structured Finance group of Debevoise & Plimpton.  He holds a B.A. summa cum laude and an M.A. from Columbia University and a J.D. magna cum laude from Harvard Law School.
Scott Silverstein has over 17 years of experience in energy regulation, M&A and finance in the legal, corporate and private equity sectors. Mr. Silverstein was Senior Vice President, Regulatory Affairs at both K Road Power and EBG Holdings, where he directed all aspects of the regulatory affairs related to the companies’ 3,000 MW portfolio of natural gas and oil fired power plants in and around the city of Boston. Mr. Silverstein also conducted due diligence on a number of fossil fuel fired facilities and was a part of the senior management team that successfully merged EBG Holdings into US Power Generating Company in 2007. Prior to joining K Road, Mr. Silverstein was Vice President, Chief Regulatory and Asset Optimization Counsel at Sithe Energies. Mr. Silverstein joined Sithe from the law firm of Hogan & Hartson LLP, where he was an Associate in the energy practice of the firm’s Washington, D.C. office. Mr. Silverstein holds a B.A. magna cum laude from Boston University and a J.D. cum laude from the Georgetown University Law Center. In April 2010, Mr. Silverstein was elected to and began serving a 3-year term on the Board of Education of Springfield, NJ.
Paul Ehrenzeller
Chief Financial Officer
Peter Nixon
Managing Director
Mr. Ehrenzeller has over 18 years of experience in the independent power industry. Prior to joining Footprint Power, he was Senior Vice President & Chief Financial Officer of K Road Power and EBG Holdings, with 3,000 MWs of natural gas and oil fired generation in and around the city of Boston.  Mr. Ehrenzeller was a part of the senior management team that successfully merged EBG Holdings into US Power Generating Company in 2007. From 1993 through 2005, he was Vice President and Controller of Sithe Energies. Mr. Ehrenzeller began his professional career with Ernst & Young, where he served public and privately owned audit clients in the utilities, media and entertainment and shipping industries. He is a certified public accountant and received his Bachelor of Science cum laude in accounting and economics from New York University.
Peter Nixon has more than 20 years of experience in the telecom and energy spaces. Most recently as Vice President Business development and Finance at Tioga Energy, a leading North American solar developer. At Tioga he had a key role in Project Finance as well as leading the company’s Canadian development activities. He closed over $150 MM of US construction and permanent financing facilities. He was also instrumental in obtaining 20 MW of utility scale solar FIT contracts in Ontario. Previously he self-funded, developed and sold several Greenfield wind projects in Ontario, the largest sold to a $20 billion energy provider. Mr. Nixon was also General Manager of MFN (now AboveNet) Canada, where he sold the company’s assets to Telus, a major Canadian telecommunications company. He also acted as Chief Operating Officer of Cabletel, the largest Canadian supplier of broadband telecommunications equipment. Mr. Nixon holds a Masters in Business Administration from the INSEAD School of Business, and a Bachelor of Engineering in Engineering Physics from the Royal Military College of Canada.
Marcia MacClary
Director of Public Affairs
George Wilson
Director of Development
Marcia MacClary has more than 35 years experience in community affairs, crisis communication and government relations. In her role as Director of Public Affairs for Hess LNG Corporation, Ms. MacClary worked to support media outreach and created public outreach and marketing materials consistent with permitting requirements for federal, state and local agencies. Prior to joining Hess, she managed community affairs and communications for Sithe Corporation/Exelon Corporation during the initial purchase of the Boston Edison generation assets and the expansion of those power generation facilities in Massachusetts. Additionally, she was responsible for conducting preliminary research and outreach into other power generation development locations in the United States and Canada. Marcia’s past experience also includes public affairs consulting with Cabot Corporation and Monsanto Corporation. Ms. MacClary holds a bachelor’s degree from Tufts University, a master’s degree from Boston University, and is a member of the Public Relations Society of America.
George Wilson has over 35 years of experience in the electric utility business. Prior to joining Footprint Power, he was first the Development Manager (under Sithe Energies, Inc.) and then the General Manager (for subsequent owners) of Fore River Station located in Weymouth, MA. Mr. Wilson has been active in development, permitting and engineering electric generating facilities for a number of companies including Sithe Energies, Inc., Bio Development Corporation and Stone and Webster Engineering Corporation. Prior to entering the power generation business, Mr. Wilson worked in the Marine Transportation field. He was a startup engineer for General Dynamic’s tanker program in Quincy, MA and worked for the American Trading & Transportation as a Merchant Marine Officer. Mr Wilson is a graduate of Massachusetts Maritime Academy and has a degree in Marine Engineering. He is also registered as a Professional Engineer (Mechanical) in New Hampshire and Massachusetts.
Donna Roberts
Director of Finance
Donna Roberts has over 20 years in the independent power industry. Prior to joining Footprint she was the Director of Finance and Controller for the Boston Generating Assets, a 3,000 MW portfolio of natural gas and oil fired plants in the Boston Metro area most recently purchased by Exelon. Ms. Roberts worked with the BG portfolio under various owners from 1998 to 2012. Previously, Ms. Roberts was the Controller for Bio Development Corporation. During her tenure with Bio Development the company developed, financed and constructed the L’Energia facility, a 90MW combined cycle natural gas and oil peaking QF unit in Lowell, MA. Ms. Roberts began her professional career in public accounting working with various construction, real estate investment and not for profit clients. She is a certified public accountant and received her Bachelor of Science degree in accounting and her Associates in Science degree in management from Bentley College.

TEAM

Peter Furniss
CEO
Scott Silverstein
President & Chief Operating Officer
Paul Ehrenzeller
Chief Financial Officer
Peter Furniss has been structuring, financing and restructuring energy and infrastructure projects and asset sales for over 15 years. While at NRG Energy, Mr. Furniss structured and negotiated key elements of NRG’s acquisition of Bluewater Wind as well as NRG’s award-winning $500 million financing of peaking facilities in Connecticut (through the GenConn joint venture with The United Illuminating Company). Prior to joining NRG, Mr. Furniss was General Counsel of Tamuín International, a subsidiary of Exelon Corporation, where he oversaw the disposition of a number of power plants, including two pet coke fueled plants in Mexico. Previously at Sithe Energies, he was responsible for the legal aspects of the 2001 financing of the 3,000MW Boston Generating portfolio. Mr. Furniss began his professional career as an associate in the Project and Structured Finance group of Debevoise & Plimpton.  He holds a B.A. summa cum laude and an M.A. from Columbia University and a J.D. magna cum laude from Harvard Law School.
Scott Silverstein has over 17 years of experience in energy regulation, M&A and finance in the legal, corporate and private equity sectors. Mr. Silverstein was Senior Vice President, Regulatory Affairs at both K Road Power and EBG Holdings, where he directed all aspects of the regulatory affairs related to the companies’ 3,000 MW portfolio of natural gas and oil fired power plants in and around the city of Boston. Mr. Silverstein also conducted due diligence on a number of fossil fuel fired facilities and was a part of the senior management team that successfully merged EBG Holdings into US Power Generating Company in 2007. Prior to joining K Road, Mr. Silverstein was Vice President, Chief Regulatory and Asset Optimization Counsel at Sithe Energies. Mr. Silverstein joined Sithe from the law firm of Hogan & Hartson LLP, where he was an Associate in the energy practice of the firm’s Washington, D.C. office. Mr. Silverstein holds a B.A. magna cum laude from Boston University and a J.D. cum laude from the Georgetown University Law Center. In April 2010, Mr. Silverstein was elected to and began serving a 3-year term on the Board of Education of Springfield, NJ.
Mr. Ehrenzeller has over 18 years of experience in the independent power industry. Prior to joining Footprint Power, he was Senior Vice President & Chief Financial Officer of K Road Power and EBG Holdings, with 3,000 MWs of natural gas and oil fired generation in and around the city of Boston.  Mr. Ehrenzeller was a part of the senior management team that successfully merged EBG Holdings into US Power Generating Company in 2007. From 1993 through 2005, he was Vice President and Controller of Sithe Energies. Mr. Ehrenzeller began his professional career with Ernst & Young, where he served public and privately owned audit clients in the utilities, media and entertainment and shipping industries. He is a certified public accountant and received his Bachelor of Science cum laude in accounting and economics from New York University.
Peter Nixon
Managing Director
Marcia MacClary
Director of Public Affairs
George Wilson
Director of Development
Peter Nixon has more than 20 years of experience in the telecom and energy spaces. Most recently as Vice President Business development and Finance at Tioga Energy, a leading North American solar developer. At Tioga he had a key role in Project Finance as well as leading the company’s Canadian development activities. He closed over $150 MM of US construction and permanent financing facilities. He was also instrumental in obtaining 20 MW of utility scale solar FIT contracts in Ontario. Previously he self-funded, developed and sold several Greenfield wind projects in Ontario, the largest sold to a $20 billion energy provider. Mr. Nixon was also General Manager of MFN (now AboveNet) Canada, where he sold the company’s assets to Telus, a major Canadian telecommunications company. He also acted as Chief Operating Officer of Cabletel, the largest Canadian supplier of broadband telecommunications equipment. Mr. Nixon holds a Masters in Business Administration from the INSEAD School of Business, and a Bachelor of Engineering in Engineering Physics from the Royal Military College of Canada.
Marcia MacClary has more than 35 years experience in community affairs, crisis communication and government relations. In her role as Director of Public Affairs for Hess LNG Corporation, Ms. MacClary worked to support media outreach and created public outreach and marketing materials consistent with permitting requirements for federal, state and local agencies. Prior to joining Hess, she managed community affairs and communications for Sithe Corporation/Exelon Corporation during the initial purchase of the Boston Edison generation assets and the expansion of those power generation facilities in Massachusetts. Additionally, she was responsible for conducting preliminary research and outreach into other power generation development locations in the United States and Canada. Marcia’s past experience also includes public affairs consulting with Cabot Corporation and Monsanto Corporation. Ms. MacClary holds a bachelor’s degree from Tufts University, a master’s degree from Boston University, and is a member of the Public Relations Society of America.
George Wilson has over 35 years of experience in the electric utility business. Prior to joining Footprint Power, he was first the Development Manager (under Sithe Energies, Inc.) and then the General Manager (for subsequent owners) of Fore River Station located in Weymouth, MA. Mr. Wilson has been active in development, permitting and engineering electric generating facilities for a number of companies including Sithe Energies, Inc., Bio Development Corporation and Stone and Webster Engineering Corporation. Prior to entering the power generation business, Mr. Wilson worked in the Marine Transportation field. He was a startup engineer for General Dynamic’s tanker program in Quincy, MA and worked for the American Trading & Transportation as a Merchant Marine Officer. Mr Wilson is a graduate of Massachusetts Maritime Academy and has a degree in Marine Engineering. He is also registered as a Professional Engineer (Mechanical) in New Hampshire and Massachusetts.
Donna Roberts
Director of Finance
Donna Roberts has over 20 years in the independent power industry. Prior to joining Footprint she was the Director of Finance and Controller for the Boston Generating Assets, a 3,000 MW portfolio of natural gas and oil fired plants in the Boston Metro area most recently purchased by Exelon. Ms. Roberts worked with the BG portfolio under various owners from 1998 to 2012. Previously, Ms. Roberts was the Controller for Bio Development Corporation. During her tenure with Bio Development the company developed, financed and constructed the L’Energia facility, a 90MW combined cycle natural gas and oil peaking QF unit in Lowell, MA. Ms. Roberts began her professional career in public accounting working with various construction, real estate investment and not for profit clients. She is a certified public accountant and received her Bachelor of Science degree in accounting and her Associates in Science degree in management from Bentley College.

PROJECTS | Salem Harbor

Salem Harbor is not only Footprint’s first project, it also came into being at about the same time that Footprint itself did. We identified Salem Harbor as the right place to implement our business plan on our very first official scouting trip back in February 2010. Salem Harbor topped our list based on its strong infrastructure (deepwater port access, proximity to interstate natural gas line and transmission headroom, among other things), the presence of an owner with a strategic outlook that did not value this asset and the level of engagement of the community. We had big dreams for Salem Harbor, but we knew they could only come to reality if the community had both the willingness and the capacity to dream big with us. We believed that the strong political leadership in Salem and the sophisticated and very well organized environmental and community groups that voiced concern about the existing facility would help us mould a new vision for the site that provided optimal outcomes for the broadest base. This belief was reinforced through a public review process sponsored by the City of Salem that examined the reuse potential for the site and through our many meetings with local leaders, members of the community and advocacy groups. By the time we closed on the acquisition of Salem Harbor from its prior owner in August 2012, we had a good understanding of the needs of the community and were able to launch the development program for the quick-start combined-cycle gas turbine project that will represent the first step in the redevelopment of this 65-acre site.
vision
The future is wind, solar and other no-carbon generating solutions supported by a sophisticated network of flexible natural gas electric generating facilities that run only when the no-carbon sources cannot meet the demand. The Salem Harbor site is poised to meet this future like few others.

First, Footprint is developing a new quick-start combined-cycle gas turbine on the site that will provide efficient, low-emission power to New England while the renewable generating fleet is still relatively small. As that fleet grows, our facility will be used to fill demand when wind resources fall off.

Second, Salem Harbor is uniquely suited to support off-shore wind, which is the most promising renewable resource for Massachusetts. The winds off of Cape Ann are some of the best in the nation and are quite close to land. Footprint Power is committed to try to serve this resource by dedicating some of the unused portions of the Salem Harbor site (including possibly the existing turbine hall) both for assembly, staging and launching of the floating wind assemblies that are used in deep-water locations like those near our site and for receiving the power from the wind farms and introducing it to the grid at our substation. Off-shore wind is currently in its infancy in the US, but we are in discussions with many of the major players in the sector and are hopeful that we can make this happen in Salem.
History of
the Site
Future of
the Site
Combined-Cycle Gas Turbine Facility
Footprint is developing a quick-start combined-cycle gas turbine on an 18-acre portion of the 65-acre site. This facility will have the ability to provide 674 MW of power to the grid with nearly half of that output available in 10 minutes and the remainder over the course of an hour. In the near term, as one of the most efficient units on the grid, we anticipate that it will run a lot. Over time, as more renewable assets are added to the grid, we foresee it will be operated as a “firming” resource that is called upon when intermittent resources like wind and solar are unable to keep up with demand. The facility has been designed to be a good neighbor with engineering, architectural and landscape features intended to reduce sound, improve the visual impact and optimize the options for development on the remaining 40+ acres.

FAQ

What are the economic benefits to owners of working with Footprint?
Older power plants can present a number of economic challenges for existing owners. New environmental rules and low energy prices may make these facilities uneconomic to run. At the same time, the owner may be concerned about the costs and uncertainties associated with any contamination of the site caused by a long-history of operations including on-site fuel and ash storage. Footprint is skilled at structuring transactions that can realize the underlying value of the site, while mitigating risk for the owners.
What are the benefits to communities of working with Footprint?
For many host communities, the pending shut-down of an old oil- or coal-fired generating facility presents mixed prospects. On the one hand, these facilities may impose considerable burdens on their host communities in terms of visual impacts, loss in property values, emissions, coal dust, noise and other environmental and other impairments. On the other hand, the facilities provide jobs, pay taxes and support the local economy in myriad ways and a shut-down could result in substantial disruptions to the community in addition to the blow to local morale caused by a shuttered and abandoned energy generating facility. Footprint works with the community to identify the development path that best meets its needs in order to ensure that the site continues to provide jobs, to pay taxes and to otherwise remain a productive resource and a good neighbor.
How is Footprint financed?
Of all the things that make Footprint unique, perhaps the most critical to who we are and how we operate is the way that we have financed ourselves. The reason this is so important is because – as anyone who is paying attention has noticed – the sources of funding for a company influence that company’s behavior. As a result, the equity in our parent company, Footprint Power LLC, is funded entirely by the partners. This leaves us free to pursue the projects that we think are important, to take the time we need to develop the relationships with stakeholders that are critical to successful projects and to make the commitments necessary to earn trust and to assure quality results. Once we have put the project together in a way that meets our stakeholders’ needs, we can bring in financial partners to that project who not only adhere to the more amorphous “project philosophy” but also value the project for all the features that make it work for the stakeholders. In this way, Footprint can create alignment between its goals, the goals of its investors and the goals of its stakeholders.
What is Footprint’s business rationale for seeking environmentally sustainable solutions?
More and more companies are recognizing what we’ve always known -- that sustainability isn’t just good; it’s good for business. There are a number of reasons for this. A combination of new and anticipated laws and regulations, improved enforcement and market forces are doing a better job of charging back to companies the costs of their environmental impacts. As a result, by reducing their environmental impacts, companies can improve their bottom line. Customers and other stakeholders are also putting increasing pressure on companies to be “green”. Finally, companies are beginning to realize that sustainable solutions themselves represent a growing market that they ignore at their peril. This is where Footprint Power comes in. At Footprint Power we are making markets in sustainability and converting environmental challenges into opportunities for sustainable solutions.
What is Footprint’s position on climate change?
Perhaps the largest and most intractable of environmental challenges is the prospect of climate change caused by man-made emissions of greenhouse gases. The science of climate change is well understood even as scientists are still working to understand the precise impacts of rising global temperatures. The underlying issue is the excessive production of certain gases -- including carbon dioxide and methane -- through human industrial and other activity. It is due to the natural presence of these “greenhouse gases” in our atmosphere that our planet is able to retain sufficient heat from the sun to support life as we know it. However, as the concentrations of these gases grow, so do the temperatures on Earth -- higher temperatures that disrupt our climate with devastating effects on people’s lives all over the globe. The single most significant contributors to worldwide greenhouse gas emissions are power plants fueled by fossil fuels -- particularly oil and coal. Of these, the very worst offenders from an emissions rate perspective are older, smaller coal facilities that were built before modern emissions standards were in place and before more efficient combustion methods became available. Shutting these plants down represents one of the easiest first steps towards improving our nation’s greenhouse gas emission profile. By taking on this work, Footprint Power is doing our part to reduce emissions, one step at a time.
If many coal plants will shut down simply as a result of environmental rules and market economics, why does Footprint need to be involved?
Simply to shut the coal plants down is to do less than half the job. The sites of the facilities need to be cleared, remediated and put back to work for their communities -- creating jobs, taxes and (where appropriate) energy again. The possibilities for reusing these sites are endless and limited only by the needs of the community and the imagination of the developers. At Footprint Power, we approach each site with fresh eyes and we look for ways to meet the needs of the local community and take full advantage of the benefits of a given site. With its historical access to the transmission grid and its infrastructure, the site of an old power plant is usually uniquely suited for a new generation facility. Where new generation is desired, using a portion of the site for this purpose makes good sense. Depending on the local needs and resources, we might install a gas-fired facility, a renewable facility or a receipt point for a transmission line carrying power from utility-scale solar or wind facilities -- or we might deploy a combination of these uses.
Why does Footprint propose to replace coal-fired power plants with natural gas-fired plants? Isn’t natural gas a fossil fuel as well?
Natural gas is a fossil fuel -- like oil and coal -- and it does produce carbon dioxide as a result of the combustion process. However, natural gas has a number of advantages over the other main fossil fuels that give it the potential to substantially reduce our carbon footprint. First, it is highly efficient from a carbon footprint perspective. Typically, using natural gas instead of coal or oil will result in a 50% reduction in carbon emissions. This reduction can be enhanced even further by using highly efficient modern combined-cycle generating equipment. Second, it is an extremely flexible fuel. Unlike power plants fired by coal and fuel oil, technologically advanced natural gas-fired facilities can respond rapidly to the needs of the grid. This flexibility is designed to facilitate a higher concentration of intermittent renewable resources -- such as wind and solar -- than is currently possible because, by having such flexible gas-fired plants, grid operators can respond to sudden changes in renewable generation caused by variations in wind speed or cloud cover. Having flexible units also allows grid operators to save resources and reduce overall emissions by calling on units only when they are needed rather than having to call units in advance of potential need and continuing to run them in case they are needed. At Footprint Power, we believe that flexibility is key, both in envisioning future uses for sites and in designing the new units to build on them.
What is Footprint’s position on hydraulic fracturing or “fracking”?
While natural gas clearly has many advantages, legitimate concerns have been raised about natural gas produced through hydraulic fracturing or “fracking” -- a natural gas extraction technique that is utilized with growing frequency in this country. Fracking consists of the injection of water, sand and other chemicals into geological formations at high pressure in order to create cracks in the formations through which natural gas or other natural resources can be recovered. While fracking has been used for many years -- particularly in the oil industry, new technology that allows it to be performed horizontally along shale formations that are rich in natural gas has opened up vast quantities of previously unreachable natural gas resources. Although the practice may have promise, two major issues have arisen. First, concerns have been raised about the chemicals used in the process and potentially the natural gas itself ending up in -- and contaminating -- water bodies and drinking supplies. Second, it is not entirely clear that the natural gas recovered through fracking will retain the advantages of natural gas produced through conventional means. In particular, it has been reported that fracking results in high levels of methane losses to the atmosphere. Since methane is a much more potent greenhouse gas even than carbon dioxide, this may result in an overall greenhouse gas emissions footprint for fracking gas that is worse than coal. In light of the legitimate concerns raised about fracking, the U.S. Environmental Protection Agency is studying the practice and intends to report on its findings later this year. We were also encouraged by reports of the formation of an independent watchdog group formed of industry, environmental advocacy and other participants that would establish and maintain best practices in the industry. In the end, Footprint Power’s position on fracking is simple: if it cannot be demonstrated to be safe to the environment and effective in reducing greenhouse gas emissions -- or if it cannot be made safe and effective through appropriate regulation -- it should not be pursued. Instead, we should utilize gas from conventional sources for electric generation in conjunction with a much higher level of renewable generation. As a result of our position on this issue, Footprint Power will not pursue development opportunities that depend on the continuation of fracking and that cannot survive in the market with natural gas extracted through conventional means.

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HEADQUARTERS:
ADDRESS
1140 Route 22 East, Suite 303, Bridgewater, NJ 08807
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