Plymouth ZBA Wind Turbine Bond

Plymouth ZBA Wind Turbine Bond

Posted in the Carver Forum

Jack Kelly

Jamestown, RI

#1 May 7, 2013
http://www.windaction.org/news/38295

PLYMOUTH ZBA: Their kingdom for a bond
For some projects, the town bylaws require surety bonds - money set aside to cover any cost to the town in the event a developer doesn't finish a project or, in this case, if a wind turbine needs to be decommissioned....But Camelot Wind, the company that owns the Camelot Park turbine, says no insurance company will sign off on such a lengthy bond.
May 7, 2013 by Emily Clark in Wicked Local Plymouth
Insurance companies balk at long-term sureties for wind turbines

PLYMOUTH - The name is bond - surety bond.
And bonds usually come with a dollar sign and multiple 0s.

For some projects, the town bylaws require surety bonds - money set aside to cover any cost to the town in the event a developer doesn't finish a project or, in this case, if a wind turbine needs to be decommissioned. The stipulation is designed to allow the town to complete a project if the developer can't or won't.

Wind turbines, like the one at Camelot Park, have a 20-year lifespan, according to engineers. But...[continue via Web link]

http://www.wickedlocal.com/plymouth/news/x522...

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