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First Wind-Emera Deal vacated by Maine Supreme Court

Today the Maine Supreme Judicial Court vacated the Public Utilities Commission decision that illegally allowed a merger between Canadian utility Emera and Boston wind generation developer First Wind.

Weld, ME  - Today the Maine Supreme Judicial Court vacated the Public Utilities Commission decision that illegally allowed a merger between Canadian utility Emera and Boston wind generation developer First Wind.

The decision is important in Maine, where First Wind is the state's largest wind developer, with plans to become much larger.

"This decision could be the salvation of Maine's Mountains," said Friends of Maine's Mountains Public Affairs Director Chris O'Neil.

Three years ago First Wind attempted an Initial Public Offering (IPO) that was unsuccessful. "First Wind pulled the plug on their IPO when the price tanked after just hours. The company was upside down financially, then they were publicly embarrassed trying to go public," O'Neil said.

O'Neil said the Emera deal represented the last hope for the ambitious wind developer that has targeted Maine with massive wind projects "that are neither necessary nor useful."  

"The PUC decision was proof positive that Big Wind was out of control. Now maybe we have a chance of stopping this wind power insanity," O'Neil said.
 
 
 

MAR 4 2014
https://www.windaction.org/posts/39981-first-wind-emera-deal-vacated-by-maine-supreme-court
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