BP has dropped its plans to put $300 million worth of windmills in the town of Cape Vincent. BP Wind Energy wanted to develop a 200 to 285 megawatt wind power farm in the town. The decision to "terminate" the project comes after years of controversy in the community.
BP has dropped its plans to put $300 million worth of windmills in the town of Cape Vincent. BP Wind Energy wanted to develop a 200 to 285 megawatt wind power farm in the town. The decision to "terminate" the project comes after years of controversy in the community.
BP has dropped its plans to put $300 million worth of windmills in the town of Cape Vincent.
BP Wind Energy wanted to develop a 200 to 285 megawatt wind power farm in the town.
The decision to "terminate" the project comes after years of controversy in the community.
Many seasonal residents opposed the plan over concerns that wind turbines would destroy property values.
Meanwhile, many year-round residents supported the idea because of the potential revenue the wind farm would generate.
Jason Ryan, a spokesperson for BP, released the following statement:
"Last year, BP announced its intention to divest its wind energy development portfolio.
BP Wind Energy is concluding the divestment of the remaining assets in its wind development …
... more [truncated due to possible copyright]BP has dropped its plans to put $300 million worth of windmills in the town of Cape Vincent.
BP Wind Energy wanted to develop a 200 to 285 megawatt wind power farm in the town.
The decision to "terminate" the project comes after years of controversy in the community.
Many seasonal residents opposed the plan over concerns that wind turbines would destroy property values.
Meanwhile, many year-round residents supported the idea because of the potential revenue the wind farm would generate.
Jason Ryan, a spokesperson for BP, released the following statement:
"Last year, BP announced its intention to divest its wind energy development portfolio.
BP Wind Energy is concluding the divestment of the remaining assets in its wind development portfolio, and proceeding to terminate our position in the Cape Vincent, NY wind farm.
With this termination, Cape Vincent Wind Power, LLC will withdraw from the New York State Article 10 permitting process and will wind down all of its contracts and agreements for the project. We expect this to be completed in the coming months.
BP has spent the last six years working with a wide range of stakeholders and community groups in Cape Vincent and throughout Jefferson County on the proposed wind farm.
We thank them for their engagement and co-operation during this time.
The terms of divested assets are confidential.
BP is retaining operating wind farms in its portfolio at this time.
Our focus remains on ensuring safe and reliable operations, and on maximizing the financial and operational performance of the existing assets."