A second private developer has dropped plans to build a large wind-power project on the CSU-owned Maxwell Ranch north of Fort Collins near the Wyoming border.
In a statement, CSU said San Diego-based Cannon Power Group decided the project was “not commercially attractive” and terminated its lease agreement with the university.
In June, the Colorado State University Research Foundation signed a lease with Cannon to develop, design and construct a wind farm on 8,000 acres of the 11,000-acre Maxwell Ranch property.
“We appreciate the fact that Cannon was open throughout this process and we think they did a good job in terms of their due diligence. We understand this is a business decision,” CSU Vice President for Research Bill Farland said in a statement. “While we’re disappointed this didn’t work out, we will step back at this point and take some time to review our options with regard to the site and potentially other renewable energy activities that could involve research and students.”
The company’s first lease payment would have been due at the end of the year. CSURF is a university-affiliated nonprofit that works in part to maximize use of CSU’s real estate portfolio.
Wind Holding LLC was initially supposed to develop the wind project, but its contract was terminated last year by CSURF after the company ran into financial trouble. The farm was originally expected to span 8,000 acres, include 100 turbines, each on a tower 290 feet tall, and produce more energy than CSU consumes. Area residents opposed the project.
Farland said the university would continue to pursue other clean and renewable energy projects that benefit the campus and surrounding community. Former CSU President Larry Penley gained major attention when he announced the Green Power Project in early 2007, promising the wind farm would be up and running within eight years.
“We’re going to continue to pursue clean energy opportunities that make economic sense for our campus while at the same time providing research and educational opportunities for our students,” Farland said.
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