Rollins Construction 10 24 #3-1
A turbine pad site in the Rocky Dundee section of the sprawling Rollins Project. Iconic Mt. Katahdin with snow in the distance. First Wind is proceeding with the project even as it faces huge financial problems, so this is likely a ruse to get investors.
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Comment by Brad Blake on November 4, 2010 at 9:09am
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Kate, thank you so very much for making the commitment to come to Lincoln on Monday! We hope the spirit of Katahdin will bless us. Even worse than Rollins is the push that is now on to line the ridges of the East Branch of the Penobscot River valley with turbines, right at the doorstep to Baxter State Park . After meeting the challenge of hiking up to timberline on mighty Katahdin, visitors will be greeted with turbines in Patten, Sherman, Island Falls, Staceyville, and Benedicta! Gov. Baxter and Henry Thoreau must be rolling over in their graves! Its up to us to rally in Lincoln and say clearly: STOP THIS INSANITY!!!
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Comment by Kate Hatfield on November 4, 2010 at 8:51am
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I intend to go to the rally on Monday. I would urge each and every one of you to do the same. We need to make a really big noise. Maybe they'll hear that.
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Katahdin? Really? This just proves to me that NOTHING is sacred when it comes to big industrial wind. They don't care what they destroy. It's all about the $$$$$$$$$$$$$$$. We need to band together as one big group and say NO, THANK YOU. If we don't, two thirds of our majestic mountain ranges will be littered with these monstrosities.
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Comment by MaineHiker on November 3, 2010 at 11:30am
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RAPE! No turbine should be visible from Katahdin summit.
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No turbine should be visible from Katahdin summit.
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Comment by alice mckay barnett on October 29, 2010 at 7:19pm
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pray every day to the creator
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Comment by Lisa Lindsay on October 29, 2010 at 10:18am
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LI, good one. I hate it when the wildlife ruins my nature experience.
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Comment by Mary Beth Nolette on October 28, 2010 at 9:33pm
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This is the best news I've heard in a couple of years. It's good to see that investor estimates were so low.
What does this mean for their future? Does anyone know?
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Comment by Stan Wood on October 28, 2010 at 8:08pm
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Latest news on First Wind's efforts to entice Wall Street to come to their rescue was published today on Reuters financial page. (Quoted)
" NEW YORK/BOSTON, Oct 28 (Reuters) - Wind farm owner and operator First Wind Holdings Inc canceled its IPO after cutting its expected price range by 24 percent and facing investor skepticism about its balance sheet and wind industry financing.
The company's struggle to come public is likely a sign of its own particular problems rather than an indication that the U.S. market for new issues has completely fallen off. Two other IPOs moved higher on their first day of dealings.
"This is a company (First Wind) that certainly has real assets and certainly has been doing some big projects, but is challenged on the debt side," said Greg Neichin, vice president of San Francisco-based research and advisory firm Cleantech Group LLC.
"If anything, it's a sign that you should be really thoughtful about project finance and debt loads and trying to maintain a cleaner balance sheet," Neichin said.
First Wind finances, develops and operates utility-scale wind energy projects in the Northeastern and Western United States and Hawaii. It is the first U.S. wind energy company to attempt an IPO, according to Thomson Reuters data.
The company, which had planned to raise $300 million in its IPO but cut that figure back to $228 million on Wednesday, has been posting losses and had outstanding debt of more than half a billion dollars as of Sept. 30. It had hoped to list on Nasdaq under the ticker symbol "WIND" WIND.O."
Some U.S. government financing -- of which First Wind has received hundreds of millions of dollars -- could be suspended at the end of the year. Analysts have also warned that electricity prices could be too low to secure private financing. [ID:nN24242731]
New U.S. wind power installations were down 71 percent through the first six months of 2010, according to the American Wind Energy Association.
First Wind Chief Executive Officer Paul Gaynor said in a statement that the terms the company was able to get for the IPO were "not attractive" and the company said it was canceling its IPO."
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Was I correct on this one or not? See previous posting.
NEW YORK (MarketWatch) -- First Wind Holdings Inc. on Wednesday cut the estimated price range of its upcoming initial public offering to $18-$20 a share, from its earlier range of $24-$26 a share. The Boston-based wind farm developer kept the size of the IPO at 12 million shares. Based on the midpoint of lowered range, First Wind Holdings will raise $228 million in the IPO, which is expected to begin trading this week under the symbol WIND on the Nasdaq.
This could drop more before all shares are sold.
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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