A local wind developer and trusted member of a rural community set forth a plan to construct a wind farm that stretched across five townships in an upper Midwest state. The developer consulted with our energy specialists in order to obtain project development support in a number of areas. In order to implement the development plan, our client needed to finalize land leases, obtain the relevant permits, source development capital, partner with a turbine supplier, and sell the electricity and associated environmental attributes to be produced by the project. Beyond these tasks, our client would ultimately need to find a means to finance the multimillion dollar investment.
Baker Tilly solution
Our team of experienced consultants worked closely with our client to develop a detailed development plan to reach the objectives of the project. In implementing the development plan, we worked to identify, select, and negotiate with prospective qualified joint venture partners. Once a partner was selected, we assisted in negotiation of the joint venture in order to maximize the value that had been created by our client to date through its development efforts. After securing the joint venture partner and completing development, our client was able to sell their ownership interest in a 120 MW phase of the project to an investor-owned utility, which has subsequently placed the project into service. Throughout the process of development, our team acted as the owner’s representative and continues in that capacity today through ongoing expansion of future phases of the wind project.
As a result of our joint efforts, our client was able to successfully see a $250 million renewable energy project from idea to completion.. The local community will see the benefits of a continued tradition of rural life as well as a significant increase in property tax revenue which will support local services and school districts.