First Wind - Itemized Subsidies, etc.
Wednesday, January 23, 2013
EXCERPT;
The First Wind plan was to secure taxpayer money and then go public. Now they achieved their first objective from the Bank of Obama –– since he took office (and as of 7/18/12), First Wind's projects have received over $452 million in grants through the Stimulus' 1603 Program.
- First Wind's Stetson Wind Farm in Maine –– $40,441,471
- Cohocton Wind Farm in New York, $52,352,334
- Dutch Hill Wind Farm In New York, $22,296,494
- Milford Wind Corridor Phase I In Utah; $120,147,809
- Milford Wind Corridor Phase II In Utah, $80,436,803
- Rollins Wind Farm In Maine; $53,246,347
- Sheffield Wind Farm In Vermont, $35,914,864
- Kahuku Wind Farm In Hawaii, $35,148,839
- Steel Winds II Wind Farm In New York, $12,778,75
However, in November 2010, Bloomberg announced, “First Wind Holdings Inc., the operator of wind-energy projects backed by D.E. Shaw & Co. and Madison Dearborn Partners LLC, said it withdrew its initial public offering because of unfavorable market conditions” that’s code for “weak demand.”
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Comment
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Comment by Brad Blake on January 28, 2013 at 9:54pm
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First reported for the Maine projects here: http://www.windtaskforce.org/profiles/blogs/wind-thieves-rake-in-ar.... This post shows what big subsidy pigs First Wind is across the board. They went for the ARRA 1603 funds knowing it was a huge financial boost enabling them to pay down short term debt held at high interest rates. Besides, as I calculated using THEIR figures for Rollins (Evergreen III, LLC), it would take about 25 years at their level of output to earn $53 million in PTC subsidy. In essense, Obama turned a subsidy that had to be earned based on production into a heinous give-away of taxpayer money to thieves that didn't deserve it.
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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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/
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