First Wind Frolics - If the taxpayers bought you a $115 million GIFT, would you still need to borrow $75 million?
The other day First Wind announced they were looking to borrow $75 million. The press release was apparently NOT released to the media in Maine. Maybe doing so would have frightened the so called Maine environmental groups who associate First Wind with giving them money.
http://www.pressherald.com/news/With_partnership_in_limbo__First_Wi...
A tale of Stimulus funds from four and a half years ago.
Another $115 million in funds for windmills went to a company called First Wind, which, I noted, had owners that included D.E. Shaw and Madison Dearborn Partners. Shaw is the firm at which President Obama's chief of the National Economic Council, Lawrence Summers, held a $5.2 million a year, one-day-a-week job, and Madison Dearborn is the firm of which Rahm Emanuel, now the White House chief of staff, said, "They've been not only supporters of mine, they're friends of mine."
Lots more at:
http://www.futureofcapitalism.com/2009/09/clean-energy-ii
Not sure they can count on this sort of taxpayer largesse anytime soon.
And not sure that ratepayers are going to buy the Maine wind companies another $1.4 billion transmission line (as in "Maine Power Reliability Project approved by Maine PUC at $1.4 billion over staff objection), transmission being a little detail that had been overlooked in the Expedited Wind Law.
And not sure whether they will be able to hire their next Director of Transmission by convincing the Chairman of the Maine PUC to leave the PUC to take that job. See: http://www.windtaskforce.org/profiles/blogs/maine-center-for-public...
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Ever wonder why wind companies would rather pay more to lease the land instead of buying the land and the responsibilities of ownership?
When a project collapses and Mainers are stuck with the bill, there may not be any First Wind to blame, just a tiny LLC and large numbers of people feeling had, a scarred environment, deep rifts between neighbors and neighboring towns, higher electricity rates, a larger legacy of debt for our children and grandchildren and "leadership" at so called Maine environmental groups frantically wondering how they are going to replace any lost revenues.
The list of First Wind subsidiaries below is from a First Wind SEC filing on 10/22/10.
A few days later we read:
First Wind pulls IPO
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.
http://www.reuters.com/article/2010/10/28/ipos-idUSN282778882010102...
List of Subsidiaries
The following list includes all subsidiaries owned directly or indirectly by First Wind Holdings, LLC, a Delaware limited liability company.
Name of Subsidiary |
|
Jursidiction of |
|
First Wind Holdings, LLC Ownership Interest |
Antelope Run, LLC |
|
Delaware |
|
100% |
Baseline Wind, LLC |
|
Delaware |
|
100% |
Beaverdam Run, LLC |
|
Delaware |
|
100% |
Beech Wind, LLC |
|
Delaware |
|
100% |
Big Apple Holdings, LLC |
|
Delaware |
|
100% |
Big Prairie, LLC |
|
Delaware |
|
100% |
Blue Sky East, LLC |
|
Delaware |
|
100% |
Blue Sky West, LLC |
|
Delaware |
|
100% |
Buckhorn Wind, LLC |
|
Delaware |
|
100% |
Canada Wind Partners, LLC |
|
Delaware |
|
100% |
Canada Wind, LLC |
|
Delaware |
|
100% |
Canandaigua Power Partners II, LLC |
|
Delaware |
|
100% |
Canandaigua Power Partners, LLC |
|
Delaware |
|
100% |
Cedar Hills Wind, LLC |
|
Delaware |
|
100% |
Cerro Wind Power, LLC |
|
Delaware |
|
100% |
Champlain Wind, LLC |
|
Delaware |
|
100% |
Coyote Trail Wind, LLC |
|
Delaware |
|
100% |
CSSW Cohocton Holdings, LLC |
|
Delaware |
|
100% |
CSSW Holdings, LLC |
|
Delaware |
|
100% |
CSSW Steel Winds Holdings, LLC |
|
Delaware |
|
100% |
CSSW Stetson Holdings, LLC |
|
Delaware |
|
100% |
CSSW, LLC |
|
Delaware |
|
100% |
Dark Harbour Wind II, ULC |
|
Novia Scotia |
|
100% |
Dark Harbour Wind, LLC |
|
Delaware |
|
100% |
Dark Harbour Wind, ULC |
|
Novia Scotia |
|
100% |
Deepwater Wind, LLC |
|
Delaware |
|
First Wind Holdings, LLC - Approximately 10.3% |
Desert Sage Wind, LLC |
|
Delaware |
|
100% |
Dwight Creek, LLC |
|
Delaware |
|
100% |
Erie Wind, LLC |
|
Delaware |
|
100% |
Evergreen Gen Lead, LLC |
|
Delaware |
|
100% |
Evergreen Wind Power II, LLC |
|
Delaware |
|
100% |
Evergreen Wind Power III, LLC |
|
Delaware |
|
100% |
Evergreen Wind Power V, LLC |
|
Delaware |
|
100% |
Evergreen Wind Power, LLC |
|
Delaware |
|
Maine Wind Partners, LLC - 53.63% |
First Wind Acquisition II, LLC |
|
Delaware |
|
100% |
First Wind Acquisition III, LLC |
|
Delaware |
|
100% |
First Wind Acquisition IV, LLC |
|
Delaware |
|
100% |
First Wind Acquisition V, LLC |
|
Delaware |
|
100% |
First Wind Acquisition, LLC |
|
Delaware |
|
100% |
First Wind California Holdings, LLC |
|
Delaware |
|
100% |
First Wind Canada, ULC. |
|
Novia Scotia |
|
100% |
First Wind Colorado Holdings, LLC |
|
Delaware |
|
100% |
First Wind Connecticut Holdings, LLC |
|
Delaware |
|
100% |
First Wind Construction, LLC |
|
Delaware |
|
100% |
First Wind Energy Marketing, LLC |
|
Delaware |
|
100% |
First Wind Energy, LLC |
|
Delaware |
|
First Wind Holdings, LLC - 99% |
First Wind Holdings Inc. |
|
Delaware |
|
100% |
First Wind Holdings, LLC |
|
Delaware |
|
100% |
First Wind Kahuku Holdings, LLC |
|
Delaware |
|
100% |
First Wind Maine Holdings, LLC |
|
Delaware |
|
100% |
First Wind Mass Holdings, LLC |
|
Delaware |
|
100% |
First Wind Merger, LLC |
|
Delaware |
|
100% |
First Wind New Hampshire Holdings, LLC |
|
Delaware |
|
100% |
First Wind New Mexico Holdings, LLC |
|
Delaware |
|
100% |
First Wind New York Holdings, LLC |
|
Delaware |
|
100% |
First Wind O&M Battery Services, LLC |
|
Delaware |
|
100% |
First Wind O&M Facilities Management, LLC |
|
Delaware |
|
100% |
First Wind O&M, LLC |
|
Delaware |
|
100% |
First Wind Oregon Holdings, LLC |
|
Delaware |
|
100% |
First Wind Penn Holdings, LLC |
|
Delaware |
|
100% |
First Wind Prospects, LLC |
|
Delaware |
|
100% |
First Wind Rollins Holdings, LLC |
|
Delaware |
|
100% |
First Wind Steuben, LLC |
|
Delaware |
|
100% |
First Wind Utah Holdings, LLC |
|
Delaware |
|
100% |
First Wind Vermont Holdings, LLC |
|
Delaware |
|
100% |
First Wind Vermont, LLC |
|
Delaware |
|
100% |
First Wind Washington Holdings, LLC |
|
Delaware |
|
100% |
First Wind West Virginia Holdings, LLC |
|
Delaware |
|
100% |
First Wind Wyoming Holdings, LLC |
|
Delaware |
|
100% |
Frontier Wind Express, LLC |
|
Delaware |
|
100% |
Gallo Canyon Wind, LLC |
|
Delaware |
|
100% |
Garvie Mountain Wind, LLC |
|
Delaware |
|
100% |
Grand View Winds, LLC |
|
Delaware |
|
100% |
GreenMountain Wind, LLC |
|
Delaware |
|
100% |
Greyback Wind, LLC |
|
Delaware |
|
100% |
Hawaii Holdings, LLC |
|
Delaware |
|
First Wind Holdings, LLC - 92% |
Hawaii Wind Holdings, LLC |
|
Delaware |
|
100% |
Hawaii Wind Partners II, LLC |
|
Delaware |
|
100% |
Hawaii Wind Partners, LLC |
|
Delaware |
|
First Wind Holdings, LLC - 51% |
Housatonic Wind, LLC |
|
Delaware |
|
100% |
Ikaika Wind Power, LLC |
|
Delaware |
|
100% |
Indigo Winds, LLC |
|
Delaware |
|
100% |
Inland Wind, LLC |
|
Delaware |
|
100% |
Kaheawa Wind Power II, LLC |
|
Delaware |
|
100% |
Kaheawa Wind Power, LLC |
|
Delaware |
|
100% |
Kahuku Holdings, LLC |
|
Delaware |
|
First Wind Kahuku Holdings, LLC - 92% |
Kahuku Wind Power II, LLC |
|
Delaware |
|
100% |
Kahuku Wind Power, LLC |
|
Delaware |
|
100% |
Kauai Wind Power, LLC |
|
Delaware |
|
100% |
Kawailoa Wind, LLC |
|
Delaware |
|
100% |
Kennebec Wind, LLC |
|
Delaware |
|
100% |
Kupa’a Wind Holdings, LLC |
|
Delaware |
|
100% |
Latah Wind, LLC |
|
Delaware |
|
100% |
Little Mountain, LLC |
|
Delaware |
|
100% |
Lone Pine Wind, LLC |
|
Delaware |
|
100% |
Longfellow Wind, LLC |
|
Delaware |
|
100% |
Maine GenLead, LLC |
|
Delaware |
|
100% |
Maine Wind Holdings, LLC |
|
Delaware |
|
100% |
Maine Wind Partners II, LLC |
|
Delaware |
|
100% |
Maine Wind Partners, LLC |
|
Delaware |
|
100% |
Mars Hill Partners, LLC |
|
Delaware |
|
100% |
Milford Gen Lead, LLC |
|
Delaware |
|
100% |
Milford II Holdings, LLC |
|
Delaware |
|
100% |
Milford II Utah Holdings, LLC |
|
Delaware |
|
100% |
Milford NHC, LLC |
|
Delaware |
|
100% |
Milford Wind Corridor Phase I, LLC |
|
Delaware |
|
100% |
Milford Wind Corridor Phase II, LLC |
|
Delaware |
|
100% |
Milford Wind Corridor Phase III, LLC |
|
Delaware |
|
100% |
Milford Wind Corridor Phase IV, LLC |
|
Delaware |
|
100% |
Milford Wind Corridor Phase V, LLC |
|
Delaware |
|
100% |
Milford Wind Corridor, LLC |
|
Delaware |
|
First Wind Utah Holdings, LLC - 80% |
Milford Wind Holdings, LLC |
|
Delaware |
|
100% |
Milford Wind Partners, LLC |
|
Delaware |
|
Milford NHC, LLC - 100% Class A Shares, 0% Class B Shares |
Mojave Winds, LLC |
|
Delaware |
|
100% |
Mountain View Wind, LLC |
|
Delaware |
|
100% |
MWCI Holdings, LLC |
|
Delaware |
|
100% |
New Mexico Land Holdings, LLC |
|
Delaware |
|
100% |
New Winds, LLC |
|
Delaware |
|
100% |
New York Wind II, LLC |
|
Delaware |
|
100% |
New York Wind III, LLC |
|
Delaware |
|
100% |
New York Wind, LLC |
|
Delaware |
|
100% |
Niagara Wind Power, LLC |
|
Delaware |
|
New York Wind II, LLC - 100% |
North Country Wind, LLC |
|
Delaware |
|
100% |
Oregon Wind II, LLC |
|
Delaware |
|
100% |
Oregon Wind, LLC |
|
Delaware |
|
100% |
Palouse Wind, LLC |
|
Delaware |
|
100% |
Pioneer Valley Wind, LLC |
|
Delaware |
|
100% |
Poplar Winds, LLC |
|
Delaware |
|
100% |
Red Canyon Wind, LLC |
|
Delaware |
|
100% |
Rollins Holdings, LLC |
|
Delaware |
|
100% |
Saxton Wind, LLC |
|
Delaware |
|
100% |
Sheffield Holdings, LLC |
|
Delaware |
|
100% |
South Point Wind Power, LLC |
|
Delaware |
|
100% |
Southern Tier Wind, LLC |
|
Delaware |
|
100% |
Stetson Holdings, LLC |
|
Delaware |
|
100% |
Stetson Wind II, LLC |
|
Delaware |
|
100% |
Sugar Hill Wind, LLC |
|
Delaware |
|
100% |
Tri-County Wind, LLC |
|
Delaware |
|
100% |
Vaughan Wind, LLC |
|
Delaware |
|
100% |
Vermont Red Clover Holdings, LLC |
|
Delaware |
|
100% |
Vermont Wind, LLC |
|
Delaware |
|
100% |
Wah Wah Wind Corridor, LLC |
|
Delaware |
|
100% |
Wah Wah Wind Holdings, LLC |
|
Delaware |
|
100% |
Windfarm Prattsburgh, LLC |
|
Delaware |
|
100% |
http://sec.edgar-online.com/first-wind-holdings-inc/s-1a-securities...
Views: 335
Comment
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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