Expertise and Track Record

New Energy Opportunities commenced operations in December 2000. NEO has:

• Served, or is serving as, Independent Evaluator, Independent Consultant or Independent Observer in competitive procurements in Delaware (all-source procurement from new generation facilities), Hawaii (renewables RFP), and California (Pacific Gas & Electric 2007 Renewables RFO, as a subcontractor). In these capacities, NEO has been intimately involved in RFP design issues, bid evaluation methodologies and applications, and a variety of contract negotiation issues.
• Advised the Massachusetts Technology Collaborative in designing and implementing the innovative Massachusetts Green Power Partnership competitive procurement program for purchase and option contracts for renewable energy certificates, resulting in awards to nine projects.
• Successfully negotiated long-term contracts for sale of energy, capacity and environmental attributes from two wind energy projects in the Northeast.
• Conducted a competitive procurement for long-term system power, resulting in a 12-year contract that facilitated a successful workout for a client in default under its loan obligations.
• Advised private client in negotiations regarding the sale of a fully developed wind project to a Midwestern electric utility in association with a turbine supply and engineering, procurement and construction agreement.
• As part of a team, advised New York State Energy Research and Development Authority (NYSERDA) in the development of the RFPs and standard attribute purchase agreements for the first two rounds of NYSERDA's program for procuring renewable energy attributes to implement New York's Renewable Portfolio Standard.
• Provided due diligence, marketing strategy and negotiation assistance regarding the development of a variety of electric generation projects, including

• wind energy, solar and natural gas projects
  
• commercial demonstration projects

• Closed a major power contract restructuring involving a debt swap, power contract buydown, and assignments of power contracts and a gas swap.

The expertise of NEO's principal, Barry Sheingold, lies principally in developing and tenaciously implementing strategies for the sale and purchase of energy products under long-term contracts to support the financing of new power plants and other energy-related assets and in the oversight of competitive procurement processes.

Mr. Sheingold has 30 years of energy transaction and regulatory experience, working as an energy consultant, a power marketer, power plant developer, energy lawyer, and regulator. He was an early mover and executive of Citizens Power LLC, the pioneering U.S. power marketing company, where he served as Senior Vice President in various business functions after having served as General Counsel. His work focused on the structuring and negotiation of long-term energy sales agreements to support construction of, or major modifications to, power plants and the restructuring of existing long-term contracts, all of which involved project financing. Mr. Sheingold has repeatedly developed innovative, successful solutions in emerging or niche markets, contributing to successful business results. At Citizens Power, he:

• Created substantial added value through restructuring long-term power and fuel contracts held by Citizens Power and affiliates

• Played lead role in negotiating multi-party 20-year fuel supply contract and pollution control services agreement for modification of a 1,600 MW power plant—the contracts were tailored to support $500 million in financings

• Played major role in structuring winning competitive bids and non-bid proposals for power plant developer clients

• Developed first electric utility/power marketer co-marketing relationship in United States, which transitioned into long-term power sale supporting the first third-party restructuring of an above-market contract between a utility and a non-utility generator

• Helped create Citizens Power precedent at the Federal Energy Regulatory Commission for market-based regulation of power marketers and independent power producers

Mr. Sheingold has made numerous presentations at industry conferences and published articles on renewable portfolio standards and implementation issues, the relationship between electric industry restructuring, long-term contracting and financing of renewable power plants, and the role of state clean energy fund programs in private sector financing of renewable energy projects.