Everpower has their hands full with Ohio lawsuits

In Champaign County, the Urbana Daily Citizen reports that the County and Township governments did not file requests for rehearing of the OPSB’s decision to grant Everpower’s certificate extension. Presumably, these governments have their hands full with their two other active lawsuits. Additionally, below this discussion is an enticing offer from Everpower for some of their leaseholders.  If they provide a 1-time payout to the leaseholder, it will cost them less over the lifetime of the project. Everpower is seeking a bank that might assist them in this initiative. Is this a new strategy to attract leaseholders?….

Citizens group Union Neighbors United UNU filed an application for rehearing Wednesday against an Ohio Power Siting Board OPSB decision in the Buckeye Wind project….

In the application for rehearing, UNU contends that the board’s decision is unlawful and unreasonable for multiple reasons including the extension amends an express term of the original certificate issued to the project applicant without complying with legally-mandated procedure for certificate amendments, the board lacking legal authority to waive or alter procedures applicable to the amendment of certificate and because the project developer has not shown good cause to extend the certificate by motion or otherwise.

UNU questions why EverPower has been unable to begin a continuous course of construction within the original five-year term of the certificate and contends that the developer has shown no evidence to demonstrate that litigation prevented this.

The intervenors also argue that the extension request is a response to new state laws….

via Wind intervenors file application for rehearing – Urbana Citizen – urbanacitizen.com.

From EverPower Newsletter Vol. 3 Issue 2

 Annual Landowner Payment Buyout – Is it right for you?

Everpower has had a number of landowners express an interest in receiving a one-time up-front payment in place of their annual royalty checks. Due to the number of requests we have received, and in an effort to be accommodating to those who have supported our projects, Everpower is currently considering such an arrangement.

In order to assess the present value of future annual payments, Everpower will need to appraise each project’s future performance, which will include forecasts of energy production, power prices, renewable energy credit prices, wind turbine reliability, and take a view on state and federal renewable energy policies over the life of the project. Everpower will likely team up with a lender to make one-time payments, which will also carry with them and interest rate cost. Due to these factor, the calculation of  the amount of money that Everpower could pay for each one-time payment has some complexity to it….

We understand that the one-time payment may not be the right option for everyone, but it may have advantages for some who would rather not wait until the end of the life of a project to recover value from their annual payments….