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.
* 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?
So if true, could it be that China in essence is helping itself to "Free Money" in the U.S. - right in The County.
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.
* 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.
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Biggest freakin' consumer fraud rip-off ever. When will we wake up from this nightmare?
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.
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