Wind farm deadline extended

By Dan MacArthur
North Forty News

The would-be developer of a $500 million wind farm has until Oct. 31 to revive the project.

Colorado State University Research Foundation trustees on Sept. 25 gave Wind Holding LLC more time to "cure all defaults" and transfer its lease to a new project developer.

Bill Farland, senior vice president for Research and Engagement at Colorado State University, said Wind Holding is negotiating with what he would identify only as "a very experienced developer" to assume its lease. He said any lease transfer would require CSURF approval.

CSURF in July gave Wind Holding 60 days to pay what Farland characterized as a "significant amount" owed to contractors and to start construction of the wind farm as required in its contract. If not, the contract could be terminated and CSURF could seek other developers.

Farland said Wind Holding also missed the deadline for making a $50,000 payment required for another extension of its contract.

But, meeting on the day of the deadline, the CSURF board granted the extension. "They have demonstrated they're making progress," said Farland, a nonvoting member of the CSURF board.

He declared in a press release that CSU still intends to build a wind-power project on the 11,000-acre Maxwell Ranch near the Colorado-Wyoming border.

"The board is very committed to moving forward with another developer to ensure the university's research and alternative energy goals are met," stated Kathleen Henry, president and chief executive officer of CSURF, a private, nonprofit agency that handles real estate transactions on behalf of the university.