TradeWind puts on hold 200-MW wind project in Nebraska - report
Dec 2, 2013 - US firm TradeWind Energy has dropped plans to build the 200-MW Rattlesnake Creek wind farm in Nebraska after failing to secure a power purchase agreement (PPA) for the scheme, the Lincoln Journal Star said Saturday.
The newspaper cited the company’s executive vice president Frank Costanza as saying that TradeWind was still very much interested in constructing the plant, valued at between USD 400 million (EUR 294m) and USD 500 million. The Kansas-based wind project developer, however, needs to start construction of the facility by the end of 2013 in order to qualify for the federal production tax credit (PTC), which is scheduled to expire at end-2013.
The Rattlesnake Creek wind park, planned for northeastern Nebraska’s Dixon County, is expected to generate enough electricity to supply about 60,000 households if ever built. In addition, it can fetch to the area income of between USD 10,000 and USD 15,000 per turbine from lease payments to local landowners, as well as USD 700,000 in local taxes every year.
Under the rules of Nebraska, TradeWind will have to provide 10% of the power it generates to Nebraska utilities and export 90% to other states. Yet so far it has failed to find a buyer.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.