1. Indiana Municipal Power Agency CONSIDERATIONS FOR JOINT OWNERSHIP OF POWER GENERATION FACILITIES

2. Indiana Municipal Power Agency POWER GENERATION PROJECT LIFECYCLE Decision to participate and participation negotiations Development period Construction and ongoing operations

3. Indiana Municipal Power Agency Decision To Participate And Participation Negotiations Know the technology Evaluate the lead partner and define their role Sanity Check-Likelihood of project completion Evaluate the makeup of the other participants Determine your level of participation

4. Indiana Municipal Power Agency Decision To Participate And Participation Negotiations Due diligence investigation of design Relationships with other partners and with lead partner Rights to future additions of generation Resource diversity strategy

5. Indiana Municipal Power Agency Development Period Development period costs EPC contract negotiation Pricing changes between participation and development phases Methods to monitor progress of project Proactive approach to public relations

6. Indiana Municipal Power Agency Development Period Environmental permitting hurdles Recordkeeping from day one Cancellation penalties Protection of confidential information Insurance decision (Contractor or owner provided)

7. Indiana Municipal Power Agency Construction And Ongoing Operations Level of representation and monitoring during construction Backup power supply plans for the non- firm resource Capital and O&M budget monitoring, invoice review and audits

8. Indiana Municipal Power Agency Construction And Ongoing Operations Emission allowances allocation and air quality systems performance Capital cost exposure due to changing environmental regulations A&G cost increase exposure and control