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CARES seeks new developer
1 October 1997
With FloWind Corporation in bankruptcy protection, a new project developer is being sought for the proposed 25 MW project to be developed by the CARES public utility consortium in Washington state. A new agreement to develop the project has now been signed by CARES and Bonneville Power Administration, says BPA's George Darr. The new deal, which expires at the end of this year, takes the place of a three-way agreement between FloWind, CARES and BPA that had expired on August 15. That agreement, originally to expire in mid-1996, had already been extended twice. It was also considered one of FloWind's most desirable assets, according to public documents at the US Bankruptcy Court in Santa Rosa, California. Its estimated value, however, had not been submitted by FloWind to the court. A new developer must be found if the project is to proceed, says BPA's Darr. The project, on the Columbia River, has permission for 91 AWT-26 turbines, a FloWind model.
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