First Wind Greedily CASHING OUT in Maine

First Wind's schtick was money, not progress


Sale of First Wind may affect company’s Bingham project

The Maine DEP, which had already approved the turbine farm, will take another look now that it has been notified of the SunEdison purchase.

Two slightly different versions of this story:

Posted 4:00 AM 11/21/14


Posted 6:02 PM 11/20/14


"Vampire Squid Wrapped Around the Face of Humanity" Goldman Sachs advised First Wind on Sale

The involved financial entities read like a Who’s Who for renewable energy finance. Morgan Stanley acted as lead financial advisor and provided a fairness opinion to SunEdison. Barclays acted as co-advisor to SunEdison and lead structuring agent on the financing. BofA Merrill Lynch acted as lead financial advisor to TerraForm in connection with the First Wind acquisition and lead structuring agent on the drop down warehouse credit facility. Citi acted as co-advisor to TerraForm. Lazard provided a fairness opinion to the Corporate Governance Committee of the TerraForm Board of Directors. Goldman Sachs acted as exclusive financial advisor to First Wind. And Marathon Capital acted as advisor to First Wind’s Board of Directors.


BDN: Bowers, Weaver, Molunkus and Somerset  cited as in development at SunEdison investor conference

What First Wind’s sale could mean for wind development in Maine

Published Nov. 19, 2014, at 5:27 a.m.     |      Modified Nov. 19, 2014, at 8:23 a.m.


First Wind CEO: “In the era of renewables, we’re only in the second inning"

The First Wind name will be phased out, but the company will maintain operations in Boston after the deal closes early next year. Officials of the three companies involved said they do not plan to lay off First Wind employees as a result of the deal.


MPBN Fails to Cover Both Sides of the First Wind Story --- Why?

Where is your reporting on the other sides of this story MPBN? Would you please show some balance and now do a story speaking with wind opponents and not interview anyone from the wind industry? That would be only fair right? How about digging into the companies' backgrounds to see if there is any Enron lineage?  Wouldn't that be in the PUBLIC interest?

MPBN: First Wind Deal Expected to Open New Markets for Alternative Energy Projects


BDN: First Wind sale means end of partnership with Emera

“This transaction is essentially an unwinding of our original transaction with First Wind as they pursue a new direction and we seek to redeploy our capital in higher value assets and opportunities in other clean energy infrastructure investments, including electricity transmission and natural gas electricity generation in the Northeast,” said Chris Huskilson, Emera’s president, in a news release Monday.

Note that although the Maine media keeps calling the buyer a Missouri based company, TerraForm Power is based in Beltsville, MD. in the Washington, D.C. metro area


PPH: Midwest solar-energy company acquiring First Wind

The companies did not elaborate on the impact the acquisition will have in Maine.


BDN: SunEdison, TerraForm to buy First Wind for $2.4 billion

First Wind has been a major player in developing wind farms in Maine, with sites active and planned across northern, western and eastern Maine. It is a frequent target for environmentalists and regulators, and counts among its top executives a former high-ranking Baldacci administration official, Kurt Adams, who now sits on the University of Maine board of trustees.

Emera Sells Its Interest in Northeast Wind to First Wind; First Wind to be Sold to a Third Party

HALIFAX, Nova Scotia--(BUSINESS WIRE)--Nov. 17, 2014-- Emera (TSX: EMA) Emera Inc. announced today it will sell its 49% interest in Northeast Wind Partners II, LLC (“Northeast Wind”), to its 51% partner,First Wind Holdings, LLC (First Wind) for USD $223.3 million.

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Comment by Long Islander on November 22, 2014 at 11:56pm

Werewolves of Augusta

Werewolves of Augusta

He's the not so hairy gent, who ran amok in Ft. Kent.
Lately he's been overheard in Newton.
You better stay away from him, he'll rip your mountaintops out Jym.
Huh, I'd like to meet his jailor.

Comment by Kathy Sherman on November 22, 2014 at 6:27pm
Lisa follows and shares much at federal up and IsoNE down. Something that I struggle with here. We canNOT dump this responsibility. We MUST understand the pressures that Lisa, Chris O'Niell and we are not minions, but indepentent Yankees, and we want top voice in our energy future.
Comment by Martha thacker on November 22, 2014 at 6:05pm is sad but better to know the truth. Do you know if they are going through any towns? I hope not. Wonder if they are being built in NH now? Lisa Linowes at windaction used to keep up with it.

Comment by Eric A. Tuttle on November 22, 2014 at 5:25pm

The Pittsfield line was started 3-4 years ago before I retired. I was to busy traveling 80-MPD to work 8-16 hour days starting at 3AM. It was probably in the news then or prior. There are several areas that still have the wood platforms along the ROW's. Those are still being constructed in part. In that Google Earth images may be a year old already they may have finished most of what I can see today.  

Comment by Martha thacker on November 22, 2014 at 4:42pm

Eric, this is a big surprise that the transmission lines are being built. Seems like it is not in our ME newspapers to me..have you read of them being built anywhere? This would be good information to get out to the general public..'cause if living under the giant transmission lines gives babies leukemia, it isn't healthy for the rest of us.

Comment by Jim Wiegand on November 22, 2014 at 2:35pm

Here is an interesting tidbit. As we all know our President is the wind industry's biggest turbine peddler and supporter of carbon credit markets. I was doing some calculations and it looks like the carbon foot print of our president and his travels are taking up about 25% of our country's carbon offset by the wind industry's 61,000 MW of installed capacity.

Comment by Eric A. Tuttle on November 22, 2014 at 2:10pm

Yes Martha..... This is how I trace them using Google Earth. I can see them visually. Though they can not be seen with the maps.

Comment by Martha thacker on November 22, 2014 at 2:03pm

Jim...I agree with the money laundering thoughts..think this may be the reason Deutshe Bank out of Germany  has gotten into so much trouble with cap and trade type business. Trouble in several European countries. First Wind's financial affairs have always looked odd on paper. And now they are selling for so much money...when they have said they were broke for years. Credit Suise financed Stetson I and there was talk of foreclosure right after it was built. 

Eric, are the transmission lines actually being built? 

Comment by Jim Wiegand on November 22, 2014 at 1:04pm

My understanding of this industry is that it is very incestuous. Look close at the people involved and their history. My view is that selling wind projects is very similar to money laundering. These sales let key people run off with the taxpayer money and leave liabilities to shell companies. 

Comment by Eric A. Tuttle on November 22, 2014 at 11:49am

This is an interactive map that I have been compiling off and on for about a year. Though it is basic in that it tracks the ROW's not the specific lines. If you zoom in close enough the blue line represents the run to Pittsfield from the Brewer location. (Orrington if you will). After hitting Pittsfield it again heads south and rejoins. This is an incomplete work and this link will not be valid when updated. However will be functional at as they are updated

All maps at this location are interactive, and will be updated as information arrives and/or requested. The Pittsfield project that I mentioned may be a parallel system for reliability or to make way for another grid. Currently I am working on an Interactive on Wind sites, then connections.


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


(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 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?" 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.”

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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."

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