[ exact phrase in "" ]

[ Google-powered ]

LOCATION/TYPE

News Home
Archive
RSS

Subscribe to RSS feed

Add NWW headlines to your site (click here)

Sign up for daily updates

Keep Wind Watch online and independent!

Selected Documents

All Documents

Research Links

Alerts

Press Releases

FAQs

Publications & Products

Photos & Graphics

Videos

Allied Groups

Share price plunges for operator of Maine wind farms amid bankruptcy concerns  

Credit:  By Fred Bever | Maine Public Broadcasting | March 29, 2016 | mpbn.net ~~

The operator of several wind energy facilities in Maine could be headed for bankruptcy. But Sun Edison officials say the turbines will keep spinning, and providing taxes and other benefits to host communities.

Since hitting a high of $32 per share last June, Sun Edison’s stock has been on a downward spiral, and has now dipped well below $1 a share following reports that it faces a substantial risk of bankruptcy while securities regulators investigate its business practices.

But even if Sun Edison does file for bankruptcy or is restructured, company spokesman John LaMontagne says that does not pose a risk for host communities in Maine.

That’s because the plants themselves are actually owned by separate entities.

“All of those projects have existing contracts to deliver wind energy to utilities around New England,” he says. “So therefore they have certain revenues which ensure the projects will be able to meet their obligations in terms of community benefits, taxes and whatever else.”

Sun Edison operates six wind plants in Maine, including one under construction in Bingham. It has also proposed two new big projects as part of a major effort to ship new renewable energy to southern New England.

But LaMontagne said he could not comment on how those might be affected by Sun Edison’s financial issues.

Source:  By Fred Bever | Maine Public Broadcasting | March 29, 2016 | mpbn.net

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

Wind Watch relies entirely
on User contributions

Share:


« Later PostNews Watch HomeEarlier Post »

Get the Facts Follow Wind Watch on Twitter

Wind Watch on Facebook

Share

CONTACT DONATE PRIVACY ABOUT SEARCH
© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.
Formerly at windwatch.org.

HOME
Follow Wind Watch on Twitter

Wind Watch on Facebook

Share