Certification to result in up to $56 million for schools, townships and county
The State of Ohio has certified Seneca Wind as a Qualified Energy Project, establishing a fixed payment in lieu of taxes throughout the operational life of the project. Based on the proposed 212 megawatts of nameplate capacity and the 30-year expected lifetime of the project, this will result in $56 million dollars of revenue from sPower, the developer and owner of Seneca Wind, that will be divided among schools, townships and Seneca County. Seneca Wind’s participation in the Qualified Energy Project program creates requirements that will ensure significant additional local and regional benefits for years to come.
These will include:
- In-state employment: At least 50 percent of full-time equivalent employees employed in the construction and installation of the project will be Ohio residents.
- Renewable energy education: sPower will establish a relationship with an Ohio university or apprenticeship program to support education and training for careers in the wind industry.
- Road improvement and repair: sPower will upgrade roads, bridges and culverts to support construction. Following construction, sPower will repair all roads, bridges and culverts to preconstruction condition. In addition, the company will post a bond to ensure funding for the repairs is provided.
- Emergency response training: sPower will provide training for fire and emergency responders and provide the proper equipment to enable them to respond to emergency situations.
“This is a significant milestone for Seneca Wind, which will bring revenue and economic activity to Seneca County and deliver clean energy throughout the region,” said Gordon Gray, director of wind for sPower. “We are grateful to the State of Ohio for issuing this certification, and to the people of Seneca County for engaging with us throughout our process.”
Seneca Wind will consist of up to 85 wind turbines on approximately 25,000 acres of privately leased land in Scipio, Reed, Venice, Eden and Bloom Townships, providing enough clean energy to power almost 60,000 homes each year. The Ohio Power Siting Board will review Seneca Wind’s application as part of a comprehensive public process that will ultimately determine final approval of the project.
About sPower: sPower, an AES and AIMCo company, is the largest private owner of operating solar assets in the United States. sPower owns and operates a portfolio of solar and wind assets greater than 1.3 GW and has a development pipeline of more than 10 GW. sPower is owned by a joint venture partnership between The AES Corporation (NYSE: AES), a worldwide energy company headquartered in Arlington, Virginia, and the Alberta Investment Management Corporation, one of Canada’s largest and most diversified institutional investment fund managers. For more information, visit www.spower.com.