BDN: FIRST WIND's inability to refinance debt raises questions about health of renewable energy market

Gee, this company which started in Italy and which is now plundering Maine and the national treasury from Boston seems to have hit some money problems despite all the free support they have gotten from taxpayers, ratepayers and the poor Mainers whose lives they have callously turned upside down. Could the pendulum be swinging? Could the investment money be turning on this completely bogus industry? Let's hope so.

Wind farm owner’s inability to refinance debt raises questions about health of renewable energy market

Posted Aug. 27, 2013, at 4:38 p.m.

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Comment by Martha thacker on August 28, 2013 at 7:36am

Time for Bangor Hydro and Central Maine power to remove the 19% increase in rates...looks like First Wind has lost it's ability to refinance.

LURC required wind farm corporations to have decommissioning costs in their nest eggs prior to ever building....in the beginning. Land owners beware; the cash cow might be heading for the slaughter house.

All the townships who were depending on TIFs might also make some contingency plans. Would not want to be the Lincoln treasurer. Is it true that Burlington ,who held out in the Rollins wind farm snow job actually were promised the turbines after 20 years? This is an ideal time for selectmen to start doing independent research.

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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