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Rumors say Horizon Wind Energy is up for sale
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Rumors fly that Goldman Sachs is looking for a buyer for Horizon Wind Energy, which is in the midst of developing Marble River Wind Farm in the towns of Clinton and Ellenburg.
Patrick Doyle, Horizon’s development director, said he couldn’t comment on the matter. But he said Marble River and, in fact, all Horizon’s projects “will carry on as usual.”
Planned for Marble River are 109 turbines with total generating capacity of 218 megawatts. Clinton would get 89 of those wind generators, while 20 would be erected in Ellenburg.
Eighty-seven landowners have given easements for the project.
The company is moving through the SEQR (State Environmental Quality Review) process now, with the aim of acquiring permits for construction in late spring or early summer next year.
The plan is to build in 2008.
“I think considerable progress has been made in working on our detailed engineering, tweaking the layout to take into account the public comments and comments of agencies,” Doyle said.
“Now we’re meeting regularly with our engineers and coming up with more-detailed plans to submit early next year to the various agencies.”
When the wind-energy developer first came on the North Country scene, it was as Zilkha Renewable Energy. About a year and a half ago, it was purchased by Goldman Zachs and renamed Horizon Wind Energy.
According to the Web site of Sparkspread, a publication featuring energy-related financing and trading news, Goldman last week circulated a sale teaser among potential buyers, launching an auction for the company.
That publication, based on a banker’s estimate, said Horizon would sell for more than $1 billion.
A spokesman from the investment bank declined to comment for the Sparkspread story.
“We have great projects in place,” Doyle said Thursday. “We have a very good pipeline.”
Horizon has developed more than 1,000 megawatts of operating wind farms, he continued.
“And by the close of 2007, we expect to bring an additional 1,000 megawatts of clean energy online.”
Among them is Maple Ridge Wind Farm on Tug Hill in New York state, Twin Groves Wind Farm in Illinois, Wildhorse Wind Farm in the state of Washington and Blue Canyon Wind Farm in Oklahoma.
Maple Ridge alone cost hundreds of millions of dollars to build, Doyle said, “which requires a company with significant financial resources.
“Goldman has invested significantly in the company.”
Sparkspread said Goldman’s sale teaser did not include a timetable for auctioning off Horizon.
“It’s important for the community to know we are carrying on with the development of Marble River as scheduled,” Doyle said.
By: Suzanne Moore
Staff Writer
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