It’s a first! Ohio BigWind can be profitable without the PILOT tax abatement

shakedown-1340048_640

We blogged about this, yesterday, and now want you to ‘view’ it from a different perspective….Less than a dozen industrial wind energy turbines should be located in Logan county, BUT Innogy is now claiming they will build DESPITE NOT BEING GIVEN A PILOT.  (Remember, this is the company that bought out Everpower. Everpower had given their word that they would NOT build in Logan county w/o the PILOT) What does this mean? After more than 3 decades of taxpayer ‘gifts’ (hundreds of millions of $$$), one BigWind company has decided they can finally afford to pay a few taxes.  BigWind wants to spread across our great state like an algae bloom – if your area is being pursued, make certain that your county commissioners know that the time is right to say NO to giving BigWind a PILOT (payment in lieu of taxes).  Let them pay their fair share! 

…Jason Dagger with Innogy said state regulators approved the project for 172 turbines, but the project has been scaled back to no more than 107.

He expects there will be much less than that built.

He spoke Thursday before the Logan County Commissioners, Logan County Prosecutor Eric Stewart, Logan County Engineer ScottColeman and about two dozen opponents of wind turbines…

Local officials cannot stop the development nor do they have control over the project. They can, however, develop an agreement to protect the county’s investment in roads….

Dagger said the $300 million project will be completed in 2020…

Bellefontaine examiner

 

Advertisements

Apparently, BigWind can afford to ‘buy votes’, but not pay taxes

 

In Ohio, BigWind such as Avangrid (formerly Iberdrola in Van Wert), Apex and Everpower INSIST on a PILOT (payment in lieu of taxes) deal -or else- they refuse to build.  This occurred in Logan county, when the PILOT was refused by the county commissioners…Everpower, said ‘see ya’.  Hmmm, the story below makes you question whether or not that is actually true. Why? Apparently, BigWind CAN afford to bribe residents.  If you can afford to not only bribe residents, but also INcrease your so-called-donations to communities/projects, then can’t you afford taxes? We don’t know about you, but we would LOVE to DONATE money to various causes and NOT PAY TAXES, too…..

Opponents of the Stiles Brook Wind Project say the developer’s attempt to sweeten the deal for towns ahead of Election Day amounts to buying votes.

This week, Spanish renewable energy producer Iberdrola sweetened the pot for residents of Windam and Grafton by increasing payouts to the two towns and allotting Windham residents a personal annual payment of $1,162 per voter….

“Setting aside a large pot of money that is promised to registered voters, only if the vote on November 8th goes Iberdrola’s way, seems to me to fit the definition of a bribe,” Nancy Tips, a spokesperson for the opposition group Friends of Windham, said in a statement….

Though Iberdrola also reduced the proposed wind farm from 28 turbines to 24, it would still be the largest wind turbine project in Vermont. Iberdola said the reduction was a response to community feedback and showed the company’s respect of residents’ voices.

In the new compensation proposal for Windham, Iberdrola would hand over annual payments of $150,000 for local volunteer programs, charities, or scholarships. The company would also pay $395,000 in property taxes — a figure over half the town’s budget. A supplemental payment of $105,000 would go to the town, and $350,000 would be allocated to registered voters.

No breakdown of Grafton’s compensation is yet available, but it too is increasing, from $285,000 annually to $500,000….

Both groups have approached the Attorney General’s office to investigate whether Iberdrola’s proposal is legal.

Anna Vesely, co-director of Grafton Woodlands Group, says Iberdrola’s corporate tactics to pressure voters are “outrageous.”…

“Not only does this scheme reek of unethical payoffs, undue influence on the upcoming vote, and general big corporation deceit, but let’s not forget the irreversible environmental impact and devastation to 5,000 acres of pristine Vermont ridgeline forest,” said Windham property owner Dan Carluccio.

“In the end it’s the people of Windham, Grafton and other nearby towns who will suffer, regardless of the money factors. In essence, we are the losers. The real winners will be Iberdrola, Meadowsend Timberlands and whichever big city gets the power generated by this senseless project. Surely it will not benefit the people living in the shadow of the 500-foot wind turbines.”

Source: Opponents of proposed wind farm say developer deal is vote buying – Watchdog.org

How much $ will your school ‘ACTUALLY’ receive if BigWind becomes a neighbor?

This is an excellent, short analysis. Do you have a county, near you, with wind turbines throwing back some of their ‘pocket change’ to a school district? Why do I call hundreds of thousands of dollars, pocket change? Because, a wind site receives hundreds of millions of taxpayer dollars to build and produce energy- through subsidies, tax abatements etc. Do you actually know of a (BigWind host) county that has reduced their taxes to residents? Do you actually know of a (BigWind host) community where real estate values have INcreased? Do you actually know of a (BigWind host) school district that has been able to hire more teachers? If you do, please contact us on our home page. I won’t wait to hear from you…

“An estimated $32.5 million of the money would go toward the Maroa-Forsyth and Warrensburg-Latham school districts.”

This sentence is misleading. The wind developer’s application to the Macon County Board identifies $32.5 million as the estimated new tax revenue that would be allocated to the two school districts but goes on to note that for every new dollar of tax revenue that a district receives the state decreases the amount of state aid. The application shows the net increase to the Maroa-Forsyth district is less than $4.5 million and Warrensburg a little over $4.1 million.

These estimated tax revenues are over 30 years. The average yearly net increase for Maroa-Forsyth and Warrensburg districts would be $150,000 each. This increase would hardly cover two new positions in each district.

These values are not guaranteed either by the wind farm developer or the state. Whether these districts will receive any of this estimated revenue is uncertain….

Source: Wind turbine taxes may never be realized | Letters to the Editor | herald-review.com

15 Problems that occur when BigWind enters your neighborhood

Be sure to read through all 15. As you just read in our prior post, BigWind is ready to attack Ohio, again. You need to know what comes with it and educate your neighbors and friends. It is also important to let your local, county and state legislators know how you feel!…

…New York State Attorney General, Eric Schneiderman, claims that President Obama’s so-called Clean Power Plan is making a difference here in New York State. It certainly is, but negatively so! Rural communities in New York …

1.) Wyoming County taxes have risen yearly over the past 12 years (concurrent with the proliferation of wind factories in the County) – up another 9.68% this year.

2.) Wind factories are NOT paying their fair share of taxes, but instead “shift the burden of taxation on to local residents and small businesses.”

3.) Real Estate 101: LOCATION! LOCATION! LOCATION! Property values are significantly negatively-impacted. Many homes are selling below assessed value, if they sell at all. [Three more properties in the area of the Wyoming County wind factories went to auction this week (11/7/15).]

4.) The Town of Eagle, which has a wind project, was reassessed to what they were told was 100% just last year (2014), and had their assessments jacked up another 40% again this year (2015).

5.) Few – if any, meaningful permanent jobs were created here (maybe a few dead bird/bat picker-uppers). Western and Upstate New York continue to hemorrhage jobs as high taxes and electric rates continue to drive business, industry and people out of the state.

6.) The population of Wyoming County has decreased by another 2.2% since 2010 as people continue to flee the area.

7.) Nobody is getting “free” or reduced rate electricity here. In fact, New York State electricity rates continue to “skyrocket” as $Billions more of our taxpayer and ratepayer dollars are thrown into the wind.

According to NYSERDA, the average NYS residential electricity rate in 1999 was 13.3 cents per kilowatt hour (kWh). The first wind factories went up in New York State in 2000 (Wethersfield & Madison). 20 wind factories later, and the average residential electricity rate in NYS as of February, 2015, is now 19.8 cents per kWh (according to the EIA, as cited by NYSERDA) – one of the highest rates in the nation, and nearly a 50% increase since New York State began mindlessly plastering the NYS countryside with redundant generation of industrial wind factories.

The actual output of New York State wind factories has been averaging a pathetic 24% Capacity Factor – many days providing nothing at all.

Noteworthy: New York State was already getting nearly 50% of its electricity from emissions-free sources back in 2000 – 29% from nuclear, 19% from hydro, and about 1% from all other renewable sources. Fifteen years later, with countless $Billions of taxpayer and ratepayer dollars thrown into the wind, and the breakdown is now: 30% from nuclear, 23% from hydro, and approximately 3% from all other renewables (wood, biomass, wind, solar, geothermal, etc.). Natural gas is now providing the largest percentage of NYS electricity generation (approximately 40%), while coal is approximately 2% of electric generation in NY.

8.) The only thing that has been reliably generated by industrial wind is complete and utter civil discord. Community relations have been ruined. People who used to be friends no longer speak. Even families have been divided.

9.) Habitat Fragmentation associated with the miles and miles of industrial sprawl, access roads associated with wind factories, and added transmission lines that must be run from remote locations to New York City (where the power is needed), has forever destroyed “the sense of place” Wyoming County (and much of rural New York) was famous for, and is cited as one of the main reasons for species decline worldwide.

10.) Negative impacts from wind turbine-related ‘infrasound’ have been documented worldwide. In fact, New York State officials acknowledged they knew about the problems associated with ‘infrasound’ back in 2009. Yet, Governor Cuomo and Attorney General Schneiderman – the very NYS officials charged with protecting our health, safety and welfare, have neglected to require any health studies to assure the protection of New York State citizens, while continuing to allow ludicrous placement of these giant machines only hundreds of feet from peoples’ homes.

11.) Lawsuits persist.

12.) Radar systems are severely impacted, thus impacting Homeland Security. Since it wasn’t in Invenergy’s contract to cover it, Wyoming County residents are stuck paying an untold amount for a new Emergency Communications tower after the one we had no longer works adequately following the construction of Invenergy’s Orangeville wind factory in 2013 (Another county-wide impact, as the new tower sits unfinished).

13.) The “flicker”/strobe effect created when the sun is behind the turbines, and the blinking red lights at night drive some crazy. The light pollution now corrupting our night sky looks like a cheap blinking Christmas tree spread out for miles.

14.) Since the diffuse energy of wind cannot replace reliable, dispatchable, baseload generation sources, all of the environmental, economic and civil devastation has been for naught. Thus, consumers pay for the redundancy of wind, and for all the transmission lines that must be added to run across New York State to New York City (where the power is needed in New York State).

15.) It remains to be seen who will take these giant fans down once they are defunct. According to a prominent wind industry attorney, should the corporations abandon a project – whatever the reason, “The landowner will be liable.”

It’s long past time that we STOP the decimation of rural America for the destructive NON-SOLUTION of industrial wind energy.

Source: Wind Power Destruction in New York State: ‘Clean’ Power Plan Problem – Master Resource

Does Everpower’s owner view it as a “noble way to lose money”?

Remember, we recently posted a blog about Terra Firma, the owner of Everpower- the company hoping to develop a BigWind industrial facility in Ohio. How could this affect the future of this facility for Ohio? How could this affect the tax promises to the counties? the leaseholders? the farmland?….

Private equity houses are retreating from the much-hyped renewable energy sector in the wake of a swath of lossmaking investments.

About 87 per cent of renewables-focused private equity funds have generated returns below that of the median private equity fund to date, with vehicles managed by HgCapital, Impax, InfraRed, BlackRock and Foresight all currently under water, according to figures from Preqin, the data provider.

Sector-wide returns have been so poor that few of the large energy-focused US private equity houses that have launched dedicated renewables funds to date are expected to offer follow-up funds….

“Just 22 per cent of funds have an IRR [internal rate of return] over 3 per cent. To me 3 per cent is losing money because you have a cost of capital. Just looking at the numbers, it does not really stack up in the private equity world,” he said.

“From my experience, you would look at many projects and only a few of them would be economically viable.”…

Joseph Dear, chief investment officer of Calpers, the world’s sixth-largest pension fund, last year described clean-tech investment as a “noble way to lose money”, with Calpers having suffered annualised losses of 9.7 per cent in the sector.

“We are all familiar with the J-curve in private equity. Well, for Calpers, clean-tech investing has got an L-curve for ‘lose’,” added Mr Dear. “If it takes 12 years to get the money out, the internal rate of return is not going to be very good, even if the investment is reasonably successful.”

Plans by Guy Hands’ Terra Firma house to launch a $2bn renewables fund were thrown into doubt last week when Damian Darragh, the star dealmaker in charge of raising the fund, was sacked.

A senior figure at one private equity house with a renewable energy fund, who declined to be named, said venture capital-style clean-tech investments, such as making electric vehicles or solar panels, had “done horribly”, but argued that biomass, solar or wind farm operations themselves had provided a “decent, respectable return”, with institutional investors such as pension funds keen to buy sites when they are up and running.

Jay Yoder, head of real assets investment at Altius, described renewable energy investing as a “trendy fad” that was overly reliant on government promises of tax credits and subsidies, which have been broken in countries such as Spain.

“We are constantly warning investors about renewable energy. One is investing more in political decisions than in tangible assets,” he said.

“Unfortunately, when the inevitable, and considerably higher, bill comes due, constituents start complaining and politicians start breaking their promises and reneging on their contracts.”

February 16, 2014 3:14 am Private equity retreats from renewables ‘fad’ By Steve Johnson

via http://www.ft.com/intl/cms/s/0/ef1b2248-94bb-11e3-9146-00144feab7de.html#axzz2tx1uLGi2