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HNWD project temporarily stalled

“During the months of August and September, active negotiations with a variety of interested parties resulted in two executed Letters of Intent,” he wrote. “However, before the due diligence periods expired, the financial markets collapsed and the interested parties started to disappear one by one. Turbines are more available now but financing is more difficult to obtain.”

John W. Flora, attorney for Highland New Wind Development, provided the State Corporation Commission Division of Energy Regulation a written report Dec. 31.

“During the months of August and September, active negotiations with a variety of interested parties resulted in two executed Letters of Intent,” he wrote. “However, before the due diligence periods expired, the financial markets collapsed and the interested parties started to disappear one by one. Turbines are more available now but financing is more difficult to obtain.”

He wrote that HNWD expects an improvement in market conditions after President- elect Barack Obama takes office. He expects HNWD will complete the permitting stage by spring.

Flora also reported that HNWD has obtained two entrance permits from U.S. 250 and has prepared an Erosion and Sediment Control plan and Storm Water Management plan. However, those will not be “approved until the specific turbine sites are located and identified. The identification and siting of the specific wind turbines also prevents final approval of the FAA permit and the building permit.”

John W. Flora, attorney for Highland New Wind Development, provided the State Corporation Commission Division of Energy Regulation a written report Dec. 31.

“During the months of August and September, active negotiations with a variety of interested parties resulted in two executed Letters of Intent,” he wrote. “However, before the due diligence periods expired, the financial markets collapsed and the interested parties started to disappear one by one. Turbines are more available now but financing is more difficult to obtain.”

He wrote that HNWD expects an improvement in market conditions after President- elect Barack Obama takes office. He expects HNWD will complete the permitting stage by spring.

Flora also reported that HNWD has obtained two entrance permits from U.S. 250 and has prepared an Erosion and Sediment Control plan and Storm Water Management plan. However, those will not be “approved until the specific turbine sites are located and identified. The identification and siting of the specific wind turbines also prevents final approval of the FAA permit and the building permit.”


Source: http://www.therecorderonlin...

JAN 8 2009
http://www.windaction.org/posts/18519-hnwd-project-temporarily-stalled
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