Record Hill Wind Project: A Big Loser for Yale

LI

October 01, 2016

Additional Threats From Connecticut Looming

Record Hill finally filed its 2nd quarter 2016 report with the Federal Energy Regulatory Commission this week.
The project, constructed with a taxpayer subsidy of more than $100 million, and sold to ratepayers by Angus King before he became a US Senator, was underwritten by Yale University, in its "quest to be to be the world's greenest university."
The Connecticut school boasts that it bought Record Hill to "provide a meaningful economic return to the Endowment while helping the University achieve its sustainability goals."
Aren't those Ivy League folks supposed to be smart?
For the quarter, the Byron & Roxbury, Maine project's average energy price was a paltry $21.11 per megawatt/hour. (That's 2.1 cents per kilowatt/hour.)
Its capacity Factor was merely 24.4%. (This effectively means that three days out of four it doesn't work.)
Total Energy and Capacity Revenues (it's a travesty that we waste capacity payments on wind projects) were $740,000 for the quarter.
This is a serious cash shortfall, considering Record Hill's estimated quarterly debt service is $1.8 million.
Could be interesting when Yale’s investment committee reviews the project’s "sustainability" and "meaningful economic return."
Residents around Ellis Pond, Appalachian Trail hikers, as well as motorists on Maine Scenic Byway Route 17 between Rumford and Rangely, are stuck with a massive industrial eyesore that does nothing to save the planet.
Meanwhile, Connecticut continues plotting to ruin many more Maine mountains as the "Clean Energy RFP" progresses. Rest assured that the bidders in the RFP cannot survive if they win government-mandated contracts at 2 or 3 cents per kilowatt/hour. 
Not unlike those well-educated people at Yale, perhaps we have not learned our lessons. Nobody will know what a bad deal the RFP is until AFTER the contracts have been signed: "Final results of the RFP will be announced to the public when executed contracts are filed for regulatory review." 
Last week Friends of Maine's Mountains had a meeting with Governor Paul LePage to warn him about the Clean Energy RFP's potential impact on Maine's economy and environment.  Over 2000 megawatts of Maine-based wind development has been bid in the RFP.  In the meeting we urged Maine's Chief Executive to use his influence in Connecticut, Massachusetts, and Rhode Island to discourage overpriced contracts that could be mandated by the public utilities commissions in those RFP states.
FMM will continue to monitor the process, and we will oppose all Maine wind projects that eventually emerge from the RFP. 

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Comment by Long Islander on December 10, 2016 at 12:04am

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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