A concerned Maine resident and U.S. citizen and taxpayer has just provided the following bit of analysis:
From September, 2016:
Record Hill Wind missed the filing deadline again with FERC for 2Q2016 (it was 8/31). I have to believe that they are in serious financial trouble. The ISO-NE Average Wholesale Energy rate for 2Q2016 was $23.39 MWH. In 2013 it was $40.74 MWH and in 2014 it was $38.18 MWH. Kibby reported an average rate for 2Q2016 of $20.42 and Stetson 1 reported a rate of $19.81 for the quarter. I project that Record Hill has to come out somewhere in the middle. As such, they have incurred a 50% reduction in energy revenues and NG prices are not going anywhere anytime soon. Either the project is close to draining the last of its “Restricted Cash Reserves” or Yale has been funding shortfalls which will not last much longer. Record Hill has a very high debt rate on its government guaranteed debt (+9.0%) and it absolutely cannot service that debt and cover operating expenses at current energy rates.
Obama's DOE: Robust Turbine Technologies Justify $102 million Loan Guarantee for Angus King and Yale University