December 15, 2016
Illinois

Crescent Ridge wants a letter of credit

By Goldie Rapp | Bureau County Republican | Dec. 15, 2016 | www.bcrnews.com

PRINCETON – Now under new ownership by Leeward Renewable Energy LCC, Crescent Ridge Wind Farm is looking to change its decommissioning agreement from cash escrow to a letter of credit. It would be a move that would match other wind project agreements in Bureau County.

On Tuesday, Bureau County Board unanimously agreed to consider this option. The next step is to start discussions with attorneys and the highway department.

Bureau County Zoning officer Kris Donarski said the cash escrow account was originally $812,600, and it has grown to $959,204.

“We don’t have a bank; we don’t have an amount; we don’t have anything. It’s just would you consider that with those updated agreements?” Donarski said.

Crescent Ridge was Bureau County’s first wind farm. Throughout the years, more recent wind farm projects have changed their decommissioning phase agreements from cash escrow to a letter of credit. Crescent Ridge is looking to update their agreements to match those of the other wind farms that have operational and decommissioning phase road agreements with the county.

According to an online article posted by GenerationHub, on Nov. 30, the Federal Energy Regulatory Commission approved an Oct. 19, application that resulted in Leeward Renewable Energy LCC taking ownership of Crescent Ridge.

The Crescent Ridge Wind Farm is spread across Indiantown and Milo townships.

In other news, the board:

• Appointed Perry Noble to a vacant five-year term as a member of the Board of Appeals set to expire Dec. 1, 2021.

• Appointed Gary McKee to a vacant five-year tern as an alternate member to the Board of Appeals set to expire Dec. 1, 2021.

• Approved the reappointment of Ray White to the Sheriff’s Merit Commission for a six-year term.

URL to article:  https://www.wind-watch.org/news/2016/12/15/crescent-ridge-wants-a-letter-of-credit/