Re-read the article: "Projects still on the drawing board"!
In the article is written:
"With the approval of the Cordova Wind farm project on Sept. 29, the Huerfano County Board of County Commissioners okayed a project that will set the standard for many such projects still on the drawing board."
So it doesn´t seem that those other projects besides the Cordova Wind farm project will get an approval soon (because they are only on the drawing board until today).
So it probably will last many months (or years?) before we might get a decision for the BLDV project (if the article is right).
This is actually a very powerful and interesting article that is really very indirectly related to BLDV in a few ways that could become directly related if things happen as per their last PR. I will build up to an explanation of how BLDV is expecting to get $126,000,000 back from the government from the construction of their $420,000,000 project by breaking ground on it by the end of 2010.
First, let’s observe what stood out the most to me is this article you posted below:
...E.ON, the Board of County Commissioners and the Planning and Zoning Commission all agreed that the project needs to be started by the end of the year in order for E.ON to be able to take advantage of federal energy impact funding under the American Reinvestment and Recovery Act. That funding will stop at the end of the year. ...
For inquiring minds... with the federal funding potentially in the queue for BLDV if certain requirements are met... below is a PR where Ormat, which trades on the NYSE at $28.00+ per share had received US$108 million for a federally funded cash grant for its renewable energy project under Section 1603, Division B of the American Recovery and Reinvestment Act of 2009 (“ARRA”): http://thinkgeoenergy.com/archives/5880 …The Section 1603 program of the ARRA enables qualifying renewable power projects eligible for either the federal production tax credit or investment tax credit to instead elect a 30% cash grant administered by the U.S. Department of the Treasury. …
From reading further details below, it is important that BLDV breaks ground by the end of the year (31 Dec 2010) to be eligible for the 30% cash grant from the US government:
… Grants will only be paid on new wind projects completed in 2009 or 2010, or that begin construction in 2009 or 2010 and are completed before the end of 2012. …
So, what this means is that if BLDV execute their business objectives, the company would get back 30% of its cost of $420,000,000 to construct their wind energy project. That equates to below:
$420,000,000 x .30 = $126,000,000 Government Cash Grant
BLDV completing this project is a very high risk, but it will be some very high rewards if completed or even to the point to where they obtain financing and breaks ground by the end of 2010. Here is another example to show that with the right support, it can happen…
Much more could be learned about the cash grant from the US Government for these types of projects by going to the US Department of the Treasury website below and reading under the American Recovery and Reinvestment Act of 2009 (“ARRA”) under Section 1603, Division B: http://www.ustreas.gov/
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