EDPR, Maine utilities reach terms on wind transmission line
The focus of the agreements is EDPR’s use of a portion of a key transmission corridor known as the Bridal Path, between Houlton and Haynesville in Aroostook County, Maine. Under the agreements, Emera Maine and CMP are providing EDPR with an option to purchase a portion of the Bridal Path corridor to develop a new transmission line, with Emera Maine and CMP having buy-back rights to purchase EDPR’s development in the corridor. The project is being advanced as part of the transmission infrastructure needed to deliver energy from EDPR’s Number Nine Wind Farm to the ISO-New England electric grid.
http://www.windsystemsmag.com/article/detail/849/edpr-maine-utiliti...
* See note below
Separately, please note that in the Wikipedia entry for China Three Gorges (CTG), owned by the People's Republic of China, EDP Renewables' parent company, Energies de Portugal is listed as a CTG subsidiary. Could this be accurate?
https://en.wikipedia.org/wiki/China_Three_Gorges_Corporation
So if true, could it be that China in essence is helping itself to "Free Money" in the U.S. - right in The County.
ADDENDUM:
On page 10 of the 6/30/16 EDPR "Director's Report" financial statement available at the link below, it discusses that CTG assumed a 49% equity shareholding position in EDPR and then states that in 2015, new agreements were made and that these agreements are pending regulatory and other approvals (on 6/30/16) and thusly, they are not yet reflected in 2016 accounting.
1st-Semester-2016-Management-Report-and-Consolidated-Financial-Statements.pdf
* Apparently, although this press release just surfaced at "Environmental Guru" dated with today's date, 7/3/17, it is actually an old release from Jan 2015 -- sorry about that.
http://www.necec.org/member-news-details/edp-renewables-emera-maine...
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Comment
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Comment by Penny Gray on July 3, 2017 at 6:43pm
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Biggest freakin' consumer fraud rip-off ever. When will we wake up from this nightmare?
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Comment by Eric A. Tuttle on July 3, 2017 at 5:11pm
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Yes, like Iberdrola, they are counting on U.S. tax credits and subsidies for their profit. Like U.S. leveraged buyouts they suck all the profits from the bottom or run away with the best of the product lines leaving others to be sold off. GE is famous for this, and so is United Technology, but there are many more even in Oil financed Green energy sectors.
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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