Council to consider WTG replacement deal
Next Tuesday, the Town Council will hear a proposal to replace Portsmouth's ailing wind turbine in a package deal where a private developer would pick up the cost and pay back the Town's loan for the existing machine, according to an agenda item posted on the town web site.
Based on a Letter of Intent posted as backup, the private company, Wind Energy Development, LLC, of North Kingstown, would remove the existing device, pay the town approximately $2M, install a new 1.25 mW direct-drive unit, and assume operation and maintenance responsibility. In return, the Town would grant WED a 25-year lease on the turbine site for a nominal $1/year, levy no tax on the machine, and commit to purchase electricity from WED at the current retail rate from National Grid, with a guaranteed floor.
You can read all the additional details in the LOI, available on the Town site.