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posted:  December 8, 2008 • Announcements, New York, Property values

First Wind indefinitely postpones Prattsburgh project

We just learned this weekend that First Wind [formerly UPC] is indefinitely postponing the Prattsburgh project.

We also have heard from a reliable source that they are refusing to pay the legal bills for the Town of Prattsburgh that they had said they would pay. In addition, we believe the company owes the town money for other things (e.g., roads) that they have not paid.

We think it will be very hard for a court to allow the town of Prattsburgh to condemn property for a company that is indefinitely postponing the project and which owes the town money. And if the condemnations are disallowed, that will be disturbing for Ecogen, since we believe that the Ecogen project was counting on a precedent being set so that they, too, could ask the town to condemn land.

And speaking of Ecogen, there is reason to believe that their partner (and major financer) Babcock and Brown is almost bankrupt. A recent look at the financial pages showed that their stock fell from $35 over a year ago to 25¢. We are presently looking into this.

It’s not over yet, but this news is very exciting.

We are very grateful to those of you who have not allowed yourself to be bullied by the companies — those of you who have stood firm when pressed to sign leases and have chased off the wind company surveyors when they trespassed on your property. Because of all the letters written, meetings attended, and attention to detail that has been paid, the wind companies have not been able to ram through their projects.

If the condemnees had not chosen to appeal, First Wind could have possessed that land four months ago and we might have had a very different scenario than the one we have now. Thank you to everyone who has supported the condemneees, and thank you to those who have answered our most recent appeal for funds.

For those of you who want to help the condemneees with the final bill, please send your checks to Advocates for Prattsburgh, Box 221, Prattsburgh, NY 14873.

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Tags: Wind power, Wind energy