Jury returns with a whopping $13.6 million verdict against First Wind 11/18/16

In case you missed this case against First Wind...that failed to negotiate in good faith and breached their contractual obligation. 

EMEC Wins Verdict

EASTERN MAINE ELECTRIC COOPERATIVE WINS $13.6 MILLION JURY VERDICT

 
On Friday November 18th, a Bangor, Maine jury found, after a four day trial, that five wind power companies breached their contractual obligation to negotiate in good faith, and returned a $13.6 million verdict in favor of Eastern Maine Electric Cooperative (the “Cooperative”). The unanimous verdict against the defendants was reached after about two hours of deliberations.  
 
The Cooperative’s CEO, Scott Hallowell said, “The defendants’ breach denied the Cooperative of the benefits of the deal, and forced the Cooperative to take legal action.”  Hallowell said, “We are extremely pleased with the verdict, as it vindicates the Cooperative’s position that the wind companies did not negotiate in good faith.  We have not yet heard whether the defendants will appeal, but if they do so we will vigorously defend the jury’s verdict.”  
 
The contract required the wind power companies to act in good faith to finalize the sale to the Cooperative of a section of an electric transmission line, which provides transmission services to wind farms owned by three of the defendants.  The parties had agreed that the three wind farms would pay for costs, including repairs and upgrades to the line, which is standard electric utility practice across the country.  
 
The Cooperative was represented by Sigmund Schutz, Joe Donahue, and Ben Piper of the law firm Preti Flaherty, LLP.  The Cooperative’s lead trial counsel, Sigmund Schutz, said, “The Defendants had sellers’ remorse and breached their good faith obligation.  The jury agreed and awarded all of the damages we requested at trial.” Schutz added, “The verdict is among the largest jury verdicts ever awarded in Maine.”
 
The Cooperative entered into the contract in 2011 with First Wind Holdings, LLC and four of its former subsidiaries (Evergreen Gen Lead, LLC; Evergreen Wind Power III, LLC; Stetson Holdings, LLC; and Stetson Wind, II LLC), for the sale of a section of an electric transmission line, the Stetson Line, to the Cooperative.  First Wind Holdings, LLC is now owned by SunEdison.  The subsidiaries are three companies that own wind farms, Stetson I (Stetson Holdings, LLC); Stetson II (Stetson Wind II, LLC); Rollins (Evergreen Wind Power III, LLC); and the company that owns the Stetson Line (Evergreen Gen Lead, LLC).  These four entities are now owned by TerraForm Power, Inc. (NASDAQ: TERP).
 
The Cooperative was to buy 12.54 miles of a transmission line that connects the wind farms to the electric grid. The wind farms agreed to take transmission service over the line and pay the Cooperative for the service.  The contract included the detailed agreed-to business terms and required good faith negotiations to deliver and execute final documents with the agreed-to business terms. The final documents were never signed due to the defendants' failure to act in good faith.
 
The Cooperative filed the lawsuit in October 2014 in Maine Superior Court. The defendants filed papers to transfer the case to federal court, but that court ultimately denied a motion to dismiss filed by the defendants and remanded the case back to state court.  The Cooperative then transferred the case to Maine Business and Consumer Court, a specialized court charged with handling business cases.  In 2016, the defendants filed a Motion for Summary Judgment, again seeking to dismiss the case. After lengthy argument, Justice Michaela Murphy denied the defendants’ Motion, and ordered that the case go to trial before a jury.  Justice Murphy presided at trial.  The jury trial took place during the week of November 14-18, 2016. 
 
* * * * *
Eastern Maine Electric Cooperative is a consumer-owned electric utility headquartered in Calais, serving approximately 12,500 consumers in portions of Washington, Penobscot, and Aroostook counties. 
 
 
 
Contact: Charlie McAlpin 
              (207) 454-1524
              cmcalpin -at- emec.com

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Comment by Barbara Durkin on January 19, 2017 at 1:04am

AMAZING THESE RECENT EVENTS FOR FIRST WIND ET AL BOUGHT BY SUNEDISON, THE DESTROYER OF $10 BILLION IN MARKET VALUE. 

The Jury VERDICT against First Wind for $13.6 million will be paid by whom???

The Cooperative filed the lawsuit in October 2014 in Maine Superior Court.

On January 29, 2015, SunEdison and TerraForm Power, LLC (“Terra LLC”), a direct subsidiary of TerraForm Power, Inc., completed their previously announced acquisition of First Wind Holdings, LLC (“Parent,” together with its subsidiaries, “First Wind”,...

https://www.sec.gov/Archives/edgar/data/1599947/000119312515111111/...

November 18th, [2016] a Bangor, Maine jury found, after a four day trial, that five wind power companies breached their contractual obligation to negotiate in good faith, and returned a $13.6 million verdict in favor of Eastern Maine Electric Cooperative (the “Cooperative”.

December 2016 SunEdison ($16.1 billion of debt in Chapter 11) shareholders seek prosecution of First Wind CEO Paul Gaynor former SunEdison EVP. "...The letters from shareholders vary in purpose and quality, but among their requests are: calls to prosecute Paul Gaynor (former First Wind CEO), Larry Summers (Chief of National Economic Council), Rahm Emanual (former White House Chief of Staff), Steve Scharzman (CEO of Blackstone), and John Podesta (Lobbyist for Renewable Energy) of wide spread collusion, corruption, and fraud; as well as several pleas to reverse the Official Equity Committee denial.

http://seekingalpha.com/article/4030452-sunedison-shareholders-made...

January 11 [2017] (SeeNews) - Brookfield Asset Management Inc (TSE:BAM.A) has made alternative proposals to SunEdison’s (OTCMKTS:SUNEQ) two yieldcos, including for a takeover of TerraForm Power Inc (NASDAQ:TERP) at a pre-transaction equity value of USD 1.6 billion (EUR 1.52bn).

ALSO NOTE: TerraForm Power has nearly 3 GW of wind and solar capacity,

http://renewables.seenews.com/news/brookfield-ready-to-buy-out-terr...

January 17, 2017

NOTE: Gaynor is Longroad-

'Longroad Energy Acquires 3.0 GW Solar Portfolio'
Move Accelerates Build-Out of Longroad’s U.S. Solar Development Strategy
January 17, 2017 07:15 AM Eastern Standard Time
BOSTON & SAN FRANCISCO--(BUSINESS WIRE)--Longroad Energy Holdings, LLC (“Longroad”) today announced the acquisition of a 3.0 gigawatt (GW) solar development portfolio from 7X Energy, Inc. (“7X”).
QUESTION- So, who is 7x Energy, Inc. with the 3.0 GW Solar Portfolio Longroad (Gaynor aquired)?
Texas Office:
3809 Juniper Trace
Suite 100
Austin, TX 78738
Google:  3809 Juniper Trace Suite 100 Austin, TX 78738 to see if you can verify 7x exists where the company 7X provides their address.

Comment by Eric A. Tuttle on January 18, 2017 at 8:02pm
Comment by Barbara Durkin on January 18, 2017 at 7:58pm
As brought to my attention...Credit to Wind Task Force for earlier posting this jury verdict news-
http://www.windtaskforce.org/profiles/blogs/jury-awards-13-6-millio...
Comment by Barbara Durkin on January 18, 2017 at 7:37pm
Hmmm. I'm wondering if bias in the media is trumped up. But I don't think so. BDN may have missed, "The verdict is among the largest jury verdicts ever awarded in Maine.” But I don't think so.
Comment by Pineo Girl on January 18, 2017 at 7:32pm

We May never see it in the BDN!  Or the PPH for that Matter!  

Comment by Penny Gray on January 18, 2017 at 7:19pm

I didn't see this in the BDN???

Comment by Pineo Girl on January 18, 2017 at 7:04pm

WOW!

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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