PPH: SunEdison stock plunges amid report of possible bankruptcy filing, SEC probe
The company owns wind farms in Maine.
LOS ANGELES TIMES
.....SunEdison reported that its long-term debt had swelled to $9.8 billion from $5.9 billion nine months earlier......On a Nov. 10 earnings call with analysts, SunEdison said it had $1.4 billion of cash. But the SEC is looking into whether SunEdison overstated its liquidity........
http://www.pressherald.com/2016/03/30/sunedison-stock-plunges-amid-...
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Comment by Robert Powers on March 30, 2016 at 8:42pm
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Behind the scenes in the wind industry, the unwritten but truth is that the wind in Maine is always blowing somewhere, depending on the specific site or project, therefore the need to have many wind projects so there is power being generated somewhere, but not everywhere at a given time....this "complements' and reduces the need for other "baseload" generation. Unfortunately, The US Dept of Energy maps for Maine are NOT accurate....overall, there is a higher wind speed resource than the maps depict...in many places in Maine.
The best long term energy source, besides oil & Natural gas? It's modern Nuclear....technology is now very safe & predictable, long term
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Comment by Dan McKay on March 30, 2016 at 5:24pm
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The future of biomass electric generation in Maine is blowing in the wind, literally, blowing in the wind. Biomass is baseload energy and is very good at providing energy 24/7. Coal plants are also baseload and nuclear is also baseload. Isn't it quite the coincidence that New England is seeing the retirement of coal, nuclear and biomass plants with the increase of wind plants.
Right now, natural gas is projected to supply baseload and compensating energy to wind plant output. With Maine quickly becoming the "Wind King" of New England, the state becomes extremely sensitive to the intermittent nature of wind. We will need gas supplies at a shorter notice than the grid of Maine is used to. With Maine at the end of the natural gas supply line and our winter heating needs well above southern New England requirements, the choice between heat and electricity could well become reality.Biomass could well become our salvation, supplying power when the wind isn't engaging our needs. But, how do you get biomass from baseload to rescue power for wind, which is a commodity driven into existence by PPAs from our southern neighbors. Who is going to bail Maine out when another cold winter hits New England.Right now, ISO-NE depends on oil plants to fire up when natural gas constraints are occurring, but that's with the current baseload generation from coal, nuclear and biomass on line. Once we lose coal, nuclear and biomass, natural gas is going to be asked to increase supply to compensate for the loss of these baseload generators.Maine has been losing natural gas generation over the last fourteen years because we are at the end of the stack. Biomass and hydro have assumed our baseload needs as Maine went from electricity exporter to importer. With this change, Maine can brag about being the " clean power king" , but our electric needs at times of severe conditions are just barely being met, mostly thanks to imports. Losing biomass means more imports.I never want to see Maine having their electricity costs increase because of policies arranged within our own State Government and worse yet by policies of other State Governments, but the course we are now set upon is due to the past desires of a welfare check delivered to the state by a well funded and welcomed wind energy policy engineered by one Governor Baldacci and others. The time to pay the piper is near and our government sleeps.
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They will either look for a "bail-out" or sell wind generation assets in bargain sale...the pressure will be put on the State & Feds to approve sale to Emera or others and possibly try to re-negotiate contracts to creditors and landowner leases....they are having hard time competing with low oil prices, gold & silver, etc. Do not be surprised if the Feds try to add a tax to fossil fuels and transmission fees to bailout wind & solar...at this point anything is possible. Angus King and Susan Collins will try to lead the charge to "save the day." You may be aware that Senator Collin's family and businesses in Aroostook County has a potential stake in seeing wind power grow/survive in Maine because of ties to family and friends....
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Obviously, SunEdison and TerraForm are preparing for the sale of Maine wind plants. Wondering if there is a connection here with Iberdrola's and Emera's request to own generation assets within their T & D area ?
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Marie Jane says: At times like this do you wonder how many colleges, retirement fund groups, churches, etc., have divested themselves of fossil fuel investments to invest in safe, progressive, "brighter future" renewables stocks like, umm, wind and solar energy...............?
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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