An Indianapolis-based company that has been scouting Tippecanoe County to build a wind farm is closing in on an announcement, officials said today.
Performance Service is planning to build a large utility-sized wind farm in northwestern Tippecanoe County. An announcement is planned Sept. 7.
The new 2,500-acre wind farm would allow schools and universities to buy a turbine for the economic and educational benefits.
Business Development Manager Tony Kuykendall said agreements have been signed with landowners to develop Performance Park Wind Farm. It would include approximately 25 turbines that could generate 50 megawatts of electricity, or enough to power thousands of homes.
“We expect Performance Park to be completed by 2012 and to generate millions of dollars for Indiana schools and universities,” he said.
“In addition, Performance Park will provide a renewable energy learning experience for students and will enable school corporations to show environmental stewardship to the students and community.”
The company can develop the park and benefit from the investment tax credit. Local school systems around the state – including schools in urban areas or regions without enough wind for turbines – could then buy a turbine and pocket the profit from the electric power sold to the multi-state power grid.
Other districts may find other ways to finance a turbine purchase, such as a low-interest renewable energy bond issue.
“The idea is that schools and universities can own a turbine in the park and get the revenue stream from the power it generates,” he said.
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