BDN: Largest developer of wind projects in Maine sued over finances

TerraForm Power owns four of the company’s Maine projects that it acquired through the purchase of Massachusetts wind developer First Wind. Those include the Mars Hill, Stetson, Bull Hill and Rollins Wind projects. Its Oakfield and Bingham projects were sold to the J.P. Morgan-backed Terra Nova Renewable Partners in December..................

It’s not clear just how a bankruptcy filing by SunEdison would affect proposed projects, including large wind farms envisioned as part of transmission line proposals from Emera Maine and Central Maine Power Co.

http://bangordailynews.com/2016/04/04/business/embattled-developer-...

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Comment by Monique Aniel Thurston on April 5, 2016 at 8:08pm

Robert , that is correct , the number I am quoting is for  any form of taxes but actually my readings are showing that Most of the approximately 243 million adults in the United States, as of 2013, pay some type of federal taxes. About 122 million Americans pay federal income tax.

Comment by Robert Powers on April 5, 2016 at 4:04pm

Monique, much less than 50% of adult Americans actually pay taxes....that is why so many who don't support the redistribution of wealth, the green energy agenda....so they will keep getting stuff for nothing...

The tax policy center, considers all taxes, including the sales taxes people pay with their government (taxpayer funded) entitlement incomes, welfare, etc....

Comment by Barbara Durkin on April 5, 2016 at 3:12pm

Correction--

"The total government support for SunEdison comes out to $1.5 billion."

Read more at: http://www.nationalreview.com/article/433572/sunedison-failure-ener...
Comment by Paula D Kelso on April 5, 2016 at 2:28pm

Link to that article is:

http://www.goodjobsfirst.org/sites/default/files/docs/pdf/UncleSams...

{sorry my neuropathy is acting up this afternoon}

Comment by Monique Aniel Thurston on April 5, 2016 at 2:27pm

We taxpayers are unwilling forced stakeholders, twice abused A ) our money taken without our consent and often with a lot of expressed outrage B) with nothing in return for the" public good."

Enough for a civil lawsuit demanding our money back whatever the amount is.

According to the Tax Policy Center, just about all Americans pay some kind of tax. There were 242 million adults in America in 2013, so it is fair to estimate the number of taxpayers is similar  .

.  

Comment by Paula D Kelso on April 5, 2016 at 2:20pm

According to the publication, "Uncle Sam's Favorite Corporations":

Other key findings:

Six parent companies have received $1 billion or more in federal grants and allocated tax credits (those awarded to specific companies) since 2000; 21 have received $500 million or more; and 98 have received $100 million or more. A group of 582 large companies account for 67 percent of the $68 billion total.

The largest recipient of grants and allocated tax credits is the Spanish energy company Iberdrola, which acquired them by investing heavily in U.S. power generation facilities, including wind farms that have made use of a renewable energy provision of the 2009 Recovery Act providing cash payments in lieu of tax credits. Iberdrola’s subsidy total is $2.2 billion. Other top grant/allocated tax credit recipients include NextEra Energy (parent of Florida Power & Light), NRG Energy, Southern Company, Summit Power and SCS Energy, each with more than $1 billion. The results exclude the numerous corporate tax breaks that cannot be attributed to individual companies.

SunEdison is listed as number 13 (of the 21 receiving in excess of 500 million)  having received nearly $650,000,000.

Are SunEdison and Iberdrola too big to fail?

Is a bail out in the works?

Comment by Barbara Durkin on April 5, 2016 at 1:52pm

I followed this link provided to Bangor Daily News, (the great enabler).  Thank You!  

Noting a great question by g8torNmaine:

"My only question. How much did these crooks get from Obama's stimulus plan. Wind is working out about as well as solar. Taxpayers invest a dollar and receive a dime in return."

I offered a response:

g8torNmaine:

Great question, how much did SunEdison grants and loans cost us?!? 

According to Watchdog.org, "Renewable power giant SunEdison has received nearly $5 million in federal grants and loans."

And, SunEdison bought First Wind that received over $700 million in federal grants and loans. 

Solyndra ended up losing an estimated $535 million. 

SunEdison/First Wind represent public debt in excess of $705 million that trumps Solyndra losses by $170 million. 

The public is on the hook for $1.240 billion between SunEdison/FirstWind/Solyndra.  But we have nothing but economic and environmental damage to show for this.  

http://watchdog.org/243022/sunedison-4-59-million/

http://greencorruption.blogspot.com/2015/01/two-big-white-house-gre...

Hannah Pingree on the Maine expedited wind law

Hannah Pingree - Director of Maine's Office of Innovation and the Future

"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."

https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/

 

Maine as Third World Country:

CMP Transmission Rate Skyrockets 19.6% Due to Wind Power

 

Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.

Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT

******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********

(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/

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