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Wind farm builder gets $12.7M grant
Credit: Kathy Mellott, The Tribune-Democrat, tribune-democrat.com 26 January 2012 ~~
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SOMERSET – A windmill farm planned for southern Somerset County received a financial boost Thursday with the announcement of a $12.7 million grant from the state Department of Community and Economic Development.
The Twin Ridges Wind Farm is an EverPower Wind Holdings Inc. project planned for Northampton, Southampton, Larimer and Greenville townships.
The 68-turbine farm has a $239 million price tag.
“It (the grant) really is a significant factor in our decision to build in Pennsylvania,” said Jim Spencer, EverPower president and CEO.
“In a tough power market, this really tips the scales for Pennsylvania.”
The profit margin in power generation has been impacted by the low natural gas prices brought on by a mild winter and glut on the market due to development of the Marcellus Shale, Spencer said.
EverPower walked away with the lion’s share of the grants announced by DCED Secretary C. Alan Walker and approved by the Commonwealth Financing Authority.
It was one of six projects statewide approved for a total grants allocation of $13.8 million through the state’s Solar Energy, Renewable Energy, and Alternative and Clean Energy Program.
When completed, Twin Ridges will be the largest wind farm in the state, generating 20 percent of the state’s total wind power.
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