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“We’re still delivering some savings, it’s just not as much as we’d hoped for,” Wright said.
The only winners in this whole mess are the investors. No attention has been paid to why the investors might have thought this was a good deal. The answer is what I call "the prize money." When the development is completed and the wind turbines are brought online, the investors will be rewarded by the federal treasury with a check for an estimated $100 million. That is far more than they risked on the project; a handsome prize, indeed.
The projects have a nameplate capacity of 461.2 megawatts, but they will produce less power than that because the facilities typically operate at less than 35 percent of capacity. Approximately 306.4 megawatts come from solar projects and 154.8 megawatts from wind.
Ambitious plans to build wind farms in northern and western Maine representing billions of dollars of investment were dealt a blow on Tuesday, after a coalition of utilities and state agencies in southern New England failed to select any Maine-based wind or transmission projects to meet the region’s clean-energy goals.
The wind turbine at Portsmouth High School stands idle no longer. Four years after its gearbox broke down and its blades stopped spinning, the turbine has been replaced with a new and better model that has gone into operation without any problems so far.
In the 24 hours leading up to Wednesday's big House budget debate, Speaker Nicholas Mattiello promised to remove a provision that would have benefited a politically-connected wind-energy developer at the potential expense of rate payers; a top aide to Governor Raimondo said negotiations continued on multiple other fronts; and Republicans primed for battle.
The budget bill headed for a House vote this week could reverse a decision made by state regulators and force Rhode Island electric ratepayers to pay extra to help a big campaign donor connect his wind projects to the power grid. Critics say that language tucked in the spending plan that surfaced after midnight last Wednesday was inserted as a favor to a single company — North Kingstown-based Wind Energy Development.
The last of three wind turbines recently purchased by the Town of West Warwick was installed Friday morning in rural Coventry. The towers, which cost $6 million each, are expected to save between $25 million to $40 million in utility costs over the next 20 years, Town Manager Frederick Presley said.
NORTH KINGSTOWN, R.I. — This is going to take a long time.
The turbine, which is located at Portsmouth High School, was built in 2009 but has been idle since 2012 because of a faulty gearbox. The company that made the turbine and gearbox has since gone bankrupt.
“Restructuring doesn’t save anybody any money,” said Bell, who had come up with a bottom line of 17.73 cents per kwh post-restructuring, versus the current 18.03 cent per kwh fuel charge. Bell’s analysis was met with shock. Some in the audience believed they had been “lied to” regarding the savings on electric bills that would come with connection to the wind farm and cable.
Voters approved building the turbine with a $3 million bond issue in 2007. The windmill was built in 2009 but has been idle since 2012 due to a faulty gearbox supplied by a company that has since gone bankrupt. ...Addressing a question by council member David Gleason, Mr. Brusini said WED would not be willing to renegotiate the 15.5-cent rate because it wouldn’t be economically viable for the company, which is already picking up the town’s debt.
Construction of the Block Island Wind Farm is once again raising red flags and upsetting state officials. Last month, the Deepwater Wind project caused alarm after inspectors found equipment damage and a number of hazards that threatened worker safety. This month, attention shifted to the quality of construction — specifically welding procedures and construction practices by the builder, Weeks Marine of Cranford, N.J.
Town voters at an all-day referendum on Thursday approved issuing $18 million in bonds to pay for three large wind turbines that would be installed on private land in rural Coventry.
The governors of Connecticut, Massachusetts and Rhode Island teamed up Wednesday to begin looking for ways to increase the region's reliance on renewable energy sources while also expanding natural gas capacity.
Sources confirmed Friday that Cape Wind Associates LLC has ended payments and an existing lease agreement option with Quonset Business Park in North Kingstown.
According to an announcement Wednesday from the Naval Facilities Engineering Command, the feasibility study’s findings “do not support pursuing large-scale wind energy at Newport at this time for a combination of reasons, including technological, historical and community concerns.”
The Town Council's unanimous vote on Nov. 6 to allow the broken high-school turbine to be taken down and replaced, with a $1.4 million payment from developer Mark DePasquale and additional state funds, is a turnaround for the embattled project that Gov. Lincoln Chafee has called a "symbol of embarrassment."
In an unanimous vote, the town entered into a contract (attached to this page) with Wind Energy Development (WED) of North Kingstown that will allow the town to pay off the remaining debt that’s left on the turbine, which voters approved with a $3 million bond issue in 2007. The turbine was built in 2009 but has been idle since 2012 due to a faulty gearbox that was supplied by a company that has since gone bankrupt.
Facing a Nov. 1 deadline set by the company seeking to replace the wind turbine at the high school, the Portsmouth Town Council on Oct. 20 instructed Town Administrator John C. Klimm to open talks with the school committee to bring them on board. Mr. Klimm said on Monday night that he was planning to meet with members of the school committee on Tuesday afternoon.