Rim Rock Wind Project Soon to be a Reality

According to a recent article in the Shelby Promoter, the funding agreement for the wind farm has been inked:

Earlier this month NaturEner announced the signing of an agreement which would provide $250 million in tax equity financing from the San Diego Gas and Electric (SDG&E) to fund a portion of the Rim Rock project. An additional 10 percent of project equity will come from shareholders from San Diego based Sempra Energy, a Fortune 500 energy services holding company.

There are still some hurdles to clear before construction can begin, but it looks like the farm will become a reality for Glacier and Toole Counties. The economic impact of the farm should be considerable with 300 plus construction jobs and then the permanent jobs the farm will provide, as well as increased tax base for both counties. Bill Alexander, NaturEner Vice President of Development is quoted in the article (written by Chris Muller) as saying:

“The second local economic benefit will be the impact fees that are paid to the county. There will be several million dollars of impact fees that are paid to the counties … and then of course, the increase in property taxes. The full 309-megawatt project will improve the property taxes of Toole and Glacier counties by some $750 million dollars or so.”

At a time when the economic climate is a little frightening, that sounds like good news to me!