Independent Power and Renewable Energy LLC (IPRE)

IPRE is a consulting and development company located in Southern Maine. Its Principal, William Franks, has more than 50 years’ experience in the USA, Europe and the Far East. Mr. Franks played a key role for the European Bank for Reconstruction and Development developing the conditionality for loans to complete the Rivne and Khmelnitsky pressurized water nuclear reactors. He also has project development expertise, including nuclear commodity procurement (uranium and SWU), project finance, biogas development, and energy storage.

Regarding EBRD, closure of the last operating units at Chernobyl was a condition of the loans. He was also EBRD’s representative who, together with the European Union, oversaw the privatization of the Ukrainian local electric distribution companies.

Mr. Franks is currently managing a $1 million New York State Energy Research and Development Authority grant to demonstrate wayside kinetic energy (flywheel) storage on New York City Transit, lowering demand and recovering energy from recuperative braking. The NYSERDA/NYCT wayside storage project is expected to save up to 30% of the power cost for the two adjacent traction power substations. He has broad experience with all types of energy storage.