According to UBS, Paul Gaynor (former First Wind CEO) has also departed, although this was not disclosed in the 8K filing. "Given Paul's former role as CEO of First Wind, we continue to perceive growing risk to execution on…Continue
Note that there is one board seat that has not yet been filled and that three terms will be expiring in May and one in April. Another term (Medd) expired in 2015.…
To sum up the situation at SunEdison; executives are fleeing, debt costs are rising, and a billionaire hedge fund manager is trying to block a transaction that would have made the Vivint Solar acquisition manageable.
I don't know where this ends, but none of the signs are good for SunEdison today. It will take a miracle for the company to get out from under its past mistakes and now the company is in court fighting against one of the most powerful men on Wall Street. That's far too…Continue
Added by Long Islander on January 24, 2016 at 1:00am — No Comments
This mammoth transmission project uses as rationale: "Reduce Maine’s consumption by at least 30 percent from 2007 levels of oil by 2030.....". One logical question would thus seem to be -- how can wind electricity projects reduce oil consumption if we do not use oil to make our present electricity supply?
The quoote on…Continue
The makeshift wind turbine erected in front of the Statehouse, emblazoned with the governor’s last name, was the first hint. Then there were the sign-bearing protesters flanking the Statehouse doors.
Inside, in the halls of the Statehouse, the cafeteria and committee rooms, scores more were dressed in bright green vests to highlight their presence and emphasize the danger they feel.
Wednesday brought the biggest show of force yet by Vermonters upset with the state’s…
UPDATE at 3PM: I just received a note advising that LD 1339 will not be discussed today and that a replacement date has not yet been announced. Please advise if you hear a date/other information.
A seemingly important Energy, Utilities and Technology Committee work session, with potential Wind implications is scheduled for today, 1/19/16 at 2:00PM according to the Bangor Daily News:
"An effort to cap…Continue
At the EUT Public Hearing on 1/14/16 on LD 1513, during testimony by Ben Smith, Skelton, Taintor & Abbott counsel representing Houlton Water Company, EUT member Representative Larry Dunphy asked Mr. Smith, in essence, if the MPRP ($1.4 BILLION CMP transmission line upgrade) was built in anticipation of moving electrons for…Continue
Happening now, transforming, if not transmogrifying Maine, is an explosion in transmission lines the state over. They are funded by ratepayers and the biggest of them all "the CMP Upgrade" or Maine Power Reliability Project was sold to us under false pretense by Iberdrola and the Baldacci administration as being based on a need for reliability due to "aging…Continue
A legislator from Presque Isle who serves on the committee that deals with utility and energy matters says he has no idea why Enron Corp. gave him...................
It looks as though they changed the order and the WORK SESSION went first -- and quickly. It was just announced "they will start in just a few minutes waiting for Representative Dion to come over".
Added by Long Islander on January 14, 2016 at 12:00pm — No Comments
A seemingly very important Energy, Utilities and Technology Committee meeting, with potentially serious Wind implications is scheduled for Thursday, 1/14/16 according to the Portland Press Herald: "...a public hearing on a bill that would enable CMP and Emera to generate power..."…Continue
Shares continue to plunge today after Managing Director and Senior Equity Research Analyst at Axiom Capital Management, Gordon Johnson, issued a statement saying that he was unsure if the company could survive 2016......Shares of Sunedison Inc (NYSE:SUNE) are down well over 90% over the last six months......…Continue
Mike Bond's "Killing Maine" is a true winner. In fact it just took first prize in Fiction at the New England Book Festival. Mr. Bond's great gifts as a writer become abundantly clear very soon into this masterful book. If you have not yet read this gripping story, I urge you to do so. And please spread the word as it is yet another tool to let people know about what is being perpetrated on Maine and Mainers. (Mike Bond is Chairman of Saving Maine).
SunEdison will be restructuring old loans at a much higher rate and issuing a bunch of stock. Investors' worst fear about the stock is real. SunEdison is cash poor.
If it wasn't, the company wouldn't have to raise money on terms that sounds like this (emphasis ours):
The Second Lien Facilities will be comprised of $500 million of A1 loans, and $225 million of A2 loans, each of which will bear interest at a rate of LIBOR + 10.0% per…Continue
"The turbine is expected to produce about 1 million kilowatt-hours of electricity per year and save the institution more than $100,000 annually in electricity charges. It is expected to save an estimated 572 tons of carbon dioxide from being released into the atmosphere each year, or the equivalent of removing 123 cars from the road". - Bangor Daily News, 11/18/09…Continue
Added by Long Islander on January 3, 2016 at 8:00pm — No Comments
“I don’t think Commissioner Littell’s suggestion that we’re using one set of analyses for wind contracts and another for natural gas contracts has been borne out,” he said......Glen Brand, director of the Sierra Club’s Maine chapter, called on the PUC to release the data…Continue
Selectman Eugene Skibitsky made the motion to table the vote to Jan. 11, 2016, saying he wanted to give the board and residents the chance to review the proposed amendments made by Kristin Collins, a Belfast lawyer.
Added by Long Islander on January 1, 2016 at 6:48pm — No Comments
At a special town meeting Oct. 1, 2014, a majority of the 300 Bristol residents present voted against allowing the offshore-wind project to connect to the power grid in town, although what authority the vote carries remains unclear.…Continue
Added by Long Islander on January 1, 2016 at 6:29pm — No Comments
“Brownie” Carson, the 26-year director of the Natural Resources Council of Maine, has filed paperwork to run for the Maine Senate district representing Brunswick, Harpswell, Freeport and Pownal.…Continue