Even the Loony Left understands that the PTC extenders is a bad deal . . .
0 comments Posted by SARTRE at 12:10 PMI just told the Senate
Democrats to not cut any tax cuts that help big businesses, hurt working
families, and expand the deficit paving the way for more devastating cuts.
I think you should
too!
http://act.credoaction.com/sign/tax_deal?referring_akid=a168850851.6462683.aoPsS4&source=conf_email
Help knock the wind out of lobbyists. Tell Congress to #EndWindWelfare
0 comments Posted by SARTRE at 12:04 PMhttp://bit.ly/11yXQNk pic.twitter.com/HW9AKwV7Un
http://thndr.it/1zARubo
“Help knock the wind out of lobbyists. Tell Congress to #EndWindWelfare http://bit.ly/11yXQNk pic.twitter.com/HW9AKwV7Un http://thndr.it/1zARubo”
It's that time of year again. Now that our Congressmen think they're safe from electoral consequences, wind industry lobbyists are aggressively pushing to revive their favorite subsidy, the wind production tax credit (PTC).
The PTC is a key part of President Obama and Majority Leader Reid's attack on affordable energy, from natural gas and coal to nuclear power - an attack that will prove costly for hard-working Americans. Our legislators need to know you oppose subsidies for special interests like industrialized wind.
Two more years of these wind subsidies would cost American families over $13.3 billion. If Big Wind gets its way and makes these subsidies permanent, that $13.3 billion will be coming out of your pockets for years to come.
TAXPAYER ALERT: Big Wind Urging Congress for Yet Another Bailout
0 comments Posted by Unknown at 11:03 AM
TAXPAYER ALERT: Big Wind Urging Congress for Yet Another Bailout
By Mary Kay Barton“Industrial wind can NEVER provide modern reliable, dispatchable, baseload power; has cost far more jobs than it creates; and is destroying the very environment they claim they wish to save.”
The private sector can be expected to develop improved solar and wind technologies which will begin to become competitive and self-supporting on a national level by the end of the decade if assisted by tax credits and augmented by federally sponsored R&D. [1]
Article Link: https://www.masterresource.org/american-wind-energy-association/33152/
SunEdison Inc. (SUNE) and its power-plant holding company, TerraForm Power Inc. (TERP), agreed to buy closely held First Wind Holdings Inc. for $2.4 billion, expanding the types of renewable-energy projects it can develop.
The acquisition will give Maryland Heights, Missouri-based SunEdison a foothold in the U.S. wind market, the company said in a statement today. SunEdison now expects to install as much as 2.3 gigawatts of capacity next year, up from a range of 1.6 gigawatts to 1.8 gigawatts.
The addition of First Wind, based in Boston, is “transformative,” accellerating the companies’ “engine” for renewable project development, Ahmad Chatila, president and chief executive officer of SunEdison, said in an interview.
“The reason why we’re doing it is really it doubles our served available market,” Chatila said. “Now we have combined with the best team in wind.”
SunEdison, which won’t change its name to reflect the new strategy, hopes to capitalize on the growth opportunities in the global wind energy market. Wind power in the U.S., where First Wind’s project development has been located, is expected to grow 15 percent next year, according to Bloomberg New Energy Finance forecasts.
SunEdison’s shares rose as much as 6 percent in after-market trading.
The purchase, which is expected to close in the first quarter, will consist of a $1.9 billion upfront payment and $510 million dependent on First Wind completing backlog projects.
’Packaging Electrons’
TerraForm will add 521 megawatts of First Wind projects to its portfolio under the deal, with 1.6 gigawatts of projects expected to be developed by SunEdison and dropped down into TerraForm in 2016 and 2017, the companies said in the statement.
The transaction “checks all the boxes,” TerraForm Chief Executive Officer Carlos Domenech said in an interview. “What First Wind does for TerraForm is very much what SunEdison does on the solar side performing as a sponsor.”
TerraForm will add 4.6 gigawatts of installs between wind and solar by the end of 2017 after the deal, including the 3.1 gigawatts already planned with SunEdison.
“We are in the business of packaging electrons into long-term contracts,” Domenech said. “Wind is a great asset class and we see tremendous growth potential. For us this is a logical expansion into renewables.”
The company expects to look into acquiring other types of renewable energy projects, Domenech said, and is considering hydroelectric power, hybrid power systems and residential, commercial and industrial solar power assets.
Yieldco
TerraForm is a yieldco that went public in July. Yieldcos are an increasingly popular way to hold renewable energy assets. They let developers raise capital at lower costs by selling completed projects to their yieldcos and using the proceeds to fund new projects.
The purchase of First Wind is expected to be immediately accretive to TerraForm Power, delivering $72.5 million in unlevered cash available for distribution next year, according to the statement.
TerraForm raised its 2015 distribution guidance to $214 million and its dividend guidance to $1.30 a share, up 44 percent from its current 90-cent rate.
Bank of America Corp.’s Merrill Lynch acted as lead financial advisor to TerraForm in connection with the First Wind acquisition and lead structuring agent on the drop down warehouse credit facility. Goldman Sachs Group Inc. acted as exclusive financial advisor to First Wind.
To contact the reporter on this story: Tina Davis in New York at tinadavis@bloomberg.net
To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Iain Wilson, Keith Gosman
Source
Solar company SunEdison Inc. and unit TerraForm Power Inc. said they would buy First Wind for $2.4 billion to enter the U.S. wind power market.
SunEdison’s shares rose 6.6 percent to $17.70, while TerraForm shares rose 1.2 percent to $26.15 in after-market trading.
The deal comprises $1.9 billion in upfront payment and $510 million in earn-outs, the companies said.
Boston-based First Wind is operating or building renewable energy projects in the Northeast, the West and Hawaii, with a combined capacity of nearly 1,300 megawatts — enough to power more than 425,000 homes each year.
First Wind has been a major player in developing wind farms in Maine, with sites active and planned across northern, western and eastern Maine. It is a frequent target for environmentalists and regulators, and counts among its top executives a former high-ranking Baldacci administration official, Kurt Adams, who now sits on the University of Maine board of trustees.
The company is involved in at least six wind power projects in Maine.
SunEdison raised its 2015 installation forecast to 2.1-2.3 gigawatts from 1.6-1.8 gigawatts . TerraForm increased its 2015 dividend forecast to $1.30 per share from 90 cents.
TerraForm was created by SunEdison to own and operate its solar power plants. TerraForm went public in July.
The deal is expected to close during the first quarter of 2015, the companies said.
SunEdison’s share in the total consideration consists of an upfront payment of $1 billion and the earn-out portion.
TerraForm Power will acquire First Wind’s operating portfolio for an enterprise value of $862 million.
Source
Duke Energy’s Shirley wind turbines declared a "HUMAN HEALTH HAZARD"
filed: October 16, 2014 • Press releases, Wisconsin
Credit: Brown County Citizens for Responsible Wind Energy, October 16, 2014, bccrwe.com ~~
DENMARK, WISCONSIN – At the October 14, 2014 Brown County Board of Health meeting, a motion was unanimously approved declaring the Shirley Wind turbines a “Human Health Hazard”. The text of the unanimously approved motion reads:
“To declare the Industrial Wind Turbines at Shirley Wind Project in the Town of Glenmore, Brown County, WI, a Human Health Hazard for all people (residents, workers, visitors, and sensitive passersby) who are exposed to Infrasound/Low Frequency Noise and other emissions potentially harmful to human health.”
We applaud the integrity of the Brown County Board of Health in the work they have done to carry out their mission to ‘promote individual and community health’. They have been deeply involved in trying to resolve the public health crisis that has existed in the Town of Glenmore since Emerging Energies of Wisconsin built the industrial wind project there in 2010. The project has been sold twice since its construction and is now owned by the renewables arm of Duke Energy, with Wisconsin Public Service purchasing the electricity.
Since the erection of the 8 turbines in Glenmore, among the largest in the United States at just under 500 feet tall, three families have vacated the homes they still own and complaints involving over 75 people in the project area have been filed with the Brown County Board of Health (including affidavits representing over 50 people that have been submitted to the Public Service Commission of Wisconsin). The root of the complaints and the home abandonments are the conditions created by Shirley Wind, allege the residents.
The declaration of Duke’s Shirley wind turbines as “Human Health Hazards” follow a year long study linking the signature of inaudible low frequency noise (created by the passing of the massive turbine blades past their supporting towers) to the homes that have been abandoned and to the homes where people continue to suffer. The Board of Health was asked to look at the study’s raw data, the evidence linking the sound data to the wind turbines, peer-reviewed medical research and the complaints of the people living in the conditions around Duke’s Shirley Wind project. They looked at the facts, they listened to the residents, they studied the medical literature, and then made the connection between Shirley Wind’s operations and the suffering in Glenmore – declaring the wind turbines a “Human Health Hazard”.
The Brown County Board of Health, the Brown County Human Services Committee, and the Brown County Board of Supervisors have all taken action on the wind turbine issue over the past four years. When resolutions have been sent to the State of Wisconsin to conduct the studies that their own PSC-funded testing called for, nothing was done. When emergency relocation aide was requested for those families forced from or suffering in their homes, the request was ignored. When they endorsed the ‘Wisconsin Citizens Safe Wind Siting Guidelines’ which includes science-based protections from low frequency noise, they were summarily dismissed. Brown County has now recognized this as a public health issue caused by the operation of Duke’s Shirley Wind.
The State of Wisconsin has stripped the right of towns and counties to responsibly site wind turbines in their own communities and have created state-wide siting rules with little protection for families forced to live in wind projects. The State refuses to recognize the health impacts around its existing wind turbine installations and draft better protections for future projects. By ignoring these impacts, they are dooming more communities to the same fate as the Town of Glenmore.
Media Contact:
Steve Deslauriers
PO Box 703
Denmark WI 54208
(920) 785-1837
www.BCCRWE.com
info@BCCRWE.com
https://www.wind-watch.org/news/2014/10/16/duke-energys-shirley-wind-turbines-declared-a-human-health-hazard/
Sierra Club and Sierra Club Foundation Accused of Tax Law Violations
0 comments Posted by Unknown at 10:52 AM
INDUSTRIAL WIND NEEDS BLOWBACK (Siemens ad campaign targeting U.S. taxpayers)
0 comments Posted by Unknown at 8:52 AMIndustrial Wind Needs Blowback (Siemens ad campaign targeting U.S. taxpayers)
by Mary Kay Barton
August 20, 2014
“Since Siemens’ tax-sheltering market is drying up in Europe, their marketing efforts in the U.S. are clearly geared towards increasing income for its investors via wind’s tax sheltering schemes here. Taxpayers, consumers take note!”
Industrial Wind Needs Blowback (Siemens ad campaign targeting U.S. taxpayers) — MasterResource
http://www.masterresource.org/2014/08/siemens-ad-us-taxpayers/