A friendly reminder that the wind farm agreement lets the cat out of the bag.
Section 2.4 of the agreement lets you know that after the initial payment, additional payments will not start until the project is completed, the wind farm is producing, and the cable is delivering power. When the developer actually sells electricity.
It also seems to me that the “developer” is looking to leverage all subcontracting work for maximum profit. I would say this because the contract prohibits the town or Town Trustees from interference in any borrowing done by the contractor from the State of New York. To me, that smacks of ultra-leveraging of the entire project.
Until next time. Still here.
Joseph Karpinski
Amagansett
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