Scituate wind turbine receives $3.1 million bond from MassDevelopment
Credit: By Globe Staff, www.boston.com 10 August 2011 ~~
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A $3.1 million bond has been issued by MassDevelopment to construct a 1,500-kilowatt wind turbine at 167 Driftway in Scituate, the state agency announced today.
The turbine will be built by Scituate Wind LLC, which is leasing the property from the town. It’s expected to serve the town’s adjacent wastewater-treatment plant and other municipal properties.
According to a Albert Bangert, Scituate’s director of public works, the project will eventually provide half of the town government’s electricity, including schools, golf course, harbor maintenance, street lights, police, fire and Town Hall buildings.
“We project saving $3 million over the next 15 years,” Bangert said in a press release.
Scituate Wind, a joint venture of Solaya Energy LLC and principals of Palmer Capital Corp., has a 15-year agreement for the town to purchase all of the electricity produced by the turbine at a fixed price. At the end of that period, the town will have the option to extend the lease for 10 years, Bangert said.
MassDevelopment provides financing and real estate development services to support private and public developments across the state.
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