WAVERLY, Iowa – Waverly Light and Power has received a final settlement of a longstanding lawsuit related to its Cannon II wind turbine.
The turbine fell during construction in February 2009. Since then, the utility has fought to recover costs resulting from the event and the damaged turbine. A lawsuit filed against appropriate parties had a court date of early 2013.
According to WLP general manager Diane Johnson, successful mediation has resulted in a settlement agreement that allows WLP to avoid what was expected to be “a protracted and costly court battle,” the utility said in a news release.
Rebuilding Cannon II cost the utility $1.7 million, which will be recovered through a payment of $1.5 million and the waiving of $195,000 in contractor costs WLP had withheld pending the settlement.
“We are pleased to recover the costs of rebuilding this turbine,” Johnson said. “Through the hard work of WLP employees and support of our board, we were able to see this project through to the end and preserve our commitment to provide renewable energy from local sources.”
Renewable energy makes up about 6 percent of total energy output for Waverly Light and Power customers, the utility said. Cannon II, which became operational this fall, is one of three wind turbines it operates.
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