Subject: re: Follow Up - Valero
From: "Wade Randlett" <[email-masked]>
To: "Eric Schwerin" <[email-masked]>
Cc: <[email-masked]>, "Michael Petras" <[email-masked]>
Date: Sat, 30 Jan 2010 14:24:12 -0800

Thanks, Eric.

I think the main update is that we have pretty high confidence that we could put a 100 acre solar farm on site, which would require no public cash, loans or otherwise.  At a minimum of 25 megawatts, I suspect that would be one of the largest if not the largest in Delaware.

As with the Green Diesel project, meeting the Treasury Department's "substantially underway" by 12/31/2010 test is mandatory.  I assume that interest is aligned withe the Governor, since job creation sooner is much better than later.

After Hunter has a chance to chat with the Gov, let's do a quick call to understand his view of how attractive either/both of these projects are.

Hunter, I know you may not have to/want to get into every detail on the first call, but here's a quick checklist of things we need to make each project a go, in case you get asked:

Solar Power Plant:

1.  100 acres land granted to us, or a 99-year $1.00/year lease.

2.  Access to the grid inter-connect that we understand exists at the power plant on site

3.  Ordinary rates and Solar Renewable Energy Credits under DE regs

Green Diesel Plant:

1.  $25-50m in preferred-payback loans from DE Economic Development Commission or in investment from Valero (or any other ITC-qualified investor) to retrofit old equipment or build new equipment on site

2.  20 acres of land granted to us, or $1/year 25 year lease

3.  Access to existing infrastructure at the site (power, port berth, etc.)

4.  Permits to build a truck-turnaround for 18-wheelers

Both projects would bring substantial new hard hat jobs during construction, as well as permanent operating jobs post-generation.  The Green Diesel project has more permanent jobs than any solar farm, plus the obvious additonal jobs for truckers, pipefitters, longshoremen, operating engineers, laborers, tug-boat operators, etc etc.

Happy to discuss any time today/tomorrow as helpful.  Pls use my cell over the weekend, 415-235-0700.

Best,
/w
-------------------------------
Wade Randlett
Co-founder

NextFuels, Inc.

381 Bush Street
Suite 300
San Francisco, CA 94104
415-397-3767
415-397-3768 fax

----------------------- Original Message -----------------------

From: Eric Schwerin <[email-masked]>

To: [email-masked]

Cc: [email-masked]

Date: Fri, 29 Jan 2010 19:46:37 -0500

Subject: Follow Up - Valero

Wade-

Sorry we couldn’t talk when you were texting me.  I am around this weekend if you want to catch up.  Hunter is reaching out to the Governor this weekend and hopefully will have an answer by Monday.  We’ll let you know what he hears.

Let us know if you have any updates he needs to know before he call the Governor.

Again, I am reachable by cell this weekend if you need me.  202-422-8346

Best,

Eric

Eric D. Schwerin

Rosemont Seneca Partners, LLC

1010 Wisconsin Ave., NW

Suite 705

Washington, DC 20007

(202) 333-1880

[email-masked]

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