Maine DEP asks First Wind to prove financial capacity (PPH)

First Wind is going to INVEST a billion in Maine? Hardly.

First Wind is going to invest a billion in themselves so that they can grab the Production Tax Credit, a lavishly generous subsidy that is the largest of all the "subsidy extenders" draining the national treasury. This will do nothing positive for Maine but will create many large negative impacts to Mainers' health, Maine's environment, Maine communities, tourism and electricity rates.

With each passing day, a larger and larger percentage of Mainers is becoming wise to this house of cards industry.

Maine DEP asks First Wind to prove financial capacity

The state wants assurances that the wind power developer has the money to finish four projects in Maine worth $1 billion.

By Tux Turkel tturkel@pressherald.com
Staff Writer

EXCERPTS:

AUGUSTA – The Maine Department of Environmental Protection is asking First Wind, Maine’s largest wind power developer, to prove that it has enough money to build four major projects that are in different stages of construction and permitting.

The request follows a Maine Supreme Judicial Court ruling last month that the state’s Public Utilities Commission erred when it approved a joint venture between First Wind and Emera Inc. of Nova Scotia, the energy company that owns two utilities in northern and eastern Maine. The projects that the DEP is scrutinizing had millions of dollars in financing from Emera, money that First Wind now can’t use.

The PUC is holding meetings to decide how to comply with the court’s ruling.

The DEP’s request affects four wind-energy projects: Oakfield Wind in Aroostook County, Hancock Wind in Hancock County, Bingham Wind in Somerset County, and Bowers Wind in Penobscot and Washington counties. Taken together, the projects could cost about $1 billion to build.

READ THE REST HERE:

http://www.pressherald.com/news/Maine_DEP_asks_First_Wind_to_prove_...

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Must Read: All Eyes Should be on the First Wind – PUC Affair (The Maine Wire)

Clearly, Maine's PUC has not helped build trust in Maine's state government and has done more than its fair share in garnering Maine the distinction of having the second least trusted state government in the nation. *

Whether it's the Kurt Adams affair where their Chairman jumps to First Wind to become their director of transmission after laying the groundwork for wind-required transmission at $1.4 billion ratepayer expense over PUC staff objection, or their approval of the First Wind-Emera merger in violation of Maine law over PUC staff objection or David Littell's dual life as RGGI Vice Chair (now Treasurer)  and PUC Commissioner, the Maine PUC never ceases to disappoint.

All Eyes Should be on the First Wind – PUC Affair

EXCERPTS:

Now, almost two years later First Wind has a problem.

The Court decided.  It voided the deal because Maine law clearly says that utilities cannot own, control, or have interest in generation assets. Whether that law makes sense is a subject for another column, but its present effect is to send Maine’s biggest turbine installer into a tailspin.  Anyone concerned about the economy and the environment should be paying close attention.

With no more money from the Emera spigot, now First Wind is scampering in the Street like a drunkard desperately seeking a drink. The Boston developer, brainchild of former ENRON alumni Steve Vavrik, Paul Gaynor, and Michael Alvarez, this week announced that they have gotten consent from existing creditors to raise $75 million in junk bond financing from institutional high rollers (who might want to show a loss for the tax year).  If they can raise it, that money is a fraction of what they need to stay afloat, but it restores a pulse for a few weeks or months.

Please read the rest here:

http://www.themainewire.com/2014/04/eyes-wind-puc-affair/

* Maine second least trusted state in the nation:

Please see the accompanying article here:

http://www.cnsnews.com/news/article/cnsnewscom-staff/north-dakota-m...

Speaking of trust, let's not forget:

‘F’ in national study means Maine ‘ripe’ for corruption

http://pinetreewatchdog.org/f-in-national-study-means-maine-ripe-fo...

and

Conflicts of interest run rampant in state legislatures

http://pinetreewatchdog.org/conflicts-of-interest-run-rampant-in-st...

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Comment by Larry Dunphy on April 6, 2014 at 7:13am

I find this interesting, but not surprising: We just had a Committee of Conference on LD 616, and Senator Boyle was one of the participants selected by the Senate. I now understand why !!!  

Comment by Whetstone_Willy on April 5, 2014 at 11:47am

Boyle

Shouldn't the Chair of the Energy and Natural Resources's Committee, James A. Boyle bow out of any wind votes given his company, Boyle Associates,  prominently displays both First Wind and CMP's logos on their website's list of their clients?

http://www.boyleassociates.net/clients-projects/

Comment by Dan McKay on April 5, 2014 at 10:49am

Comment by Whetstone_Willy on April 5, 2014 at 10:05am

From three years ago:

The following is from the website of Rep. Stacey Fitts' employer. Fitts, co-chair of the Joint Standing Committee on Energy, Utilities and Technology, works for Kleinschmidt Associates, an engineering, licensing, environmental service firm offering specialized technical services to the renewable industry. Kleinschmidt’s wind focus is primarily off -shore wind power, but the Energy, Utilities and Technology Committee makes decisions on offshore wind and decisions made for offshore wind will benefit onshore, such as anything that helps along large transmission projects. 

Stacey Fitts' Boasting Employer When He Was on the EUT

Jon Hinck, Alex Cornell du Houx and Stacey Fitts - three of the 12 members (25%) of the Joint Standing Committee on Energy, Utilities and Technology.

Jon Hinck is married to Juliet Browne who is a lawyer and partner at Verill Dana whose main practice deals with the defense of wind power companies. She has been extremely busy in the past few years representing wind developers on the local level, before Maine DEP ,and LURC and defending the companies in numerous appeals and lawsuits. 

Alex Cornell du Houx, an avid supporter of wind power, is the outreach coordinator of the Truman National Security Project. A sister organization is Operation Free, where Mr. Du Houx serves as Campaign Director. Operation Free lists as its first core motivational principal “get America running on clean energy”. In fact, the organization’s logo prominently features industrial wind turbines.


Comment by Dan McKay on April 5, 2014 at 7:57am

Comment by Long Islander on April 5, 2014 at 12:38am

 

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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