07 Apr 2011 10:04:18
Invenergy abandons Wisconsin project
Chicago-based independent wind developer Invenergy has chosen not to go ahead with the development of the Ledge Wind Energy Center project, a 100-turbine facility proposed for Brown County, Wisconsin. Invenergy recently filed a letter with the Wisconsin Public Service Commission, conveying its decision to withdraw the Certificate of Public Convenience and Necessity application.
The company's move was based on continuing uncertainty generation by the current legislative and regulatory climate, and was taken after evaluation of the resulting investment considerations.
"With the recent suspension of Chapter PSC 128 and the unpredictability of the course of the ensuing legislative and administrative process, Invenergy cannot justify continuing to make significant investments regarding the Ledge Wind Energy Center while substantial uncertainty persists regarding relevant project regulations," wrote the company in its letter.
"Due to the advanced nature of development of the Ledge Wind Energy Center and the consequent extensive financial commitments, the absence of regulatory stability has made it imprudent for Invenergy to proceed with investments in a project which unknown regulations might make infeasible to construct."
More than 20 wind generating facilities, representing an aggregate generation capacity of over 2,200 MW, have been developed by Invenergy and are now operating in North America and Europe. According to the company, another 1,000 MW of Invenergy projects are either under contract or under construction, and expected to be in operation by the end of 2012.
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