Fayette reborn

Journal Article · · Independent Energy; (USA)

OSTI ID:6288335

Gipe, P

A Fayette Energy Corp., the troubled Altamont Pass operator of a 143 MW wind plant in California, appears on the verge of rebirth. The surprise turnaround comes after several years of operating with unproductive, failure-prone wind turbines under a less than desirable avoided cost power purchase contract. In March of this year, having completed paying off more than $30 million in debt and settling scores of legal disputes, Fayette signed an agreement with SeaWest Industries of San Diego, California. Under terms of the agreement, the company will utilize favorable standard offer No. 4 (SO4) power purchase contract for 24 MW of capacity from SeaWest. In addition, SeaWest will provide operations services. Fayette has nearly completed restructuring every phase of the company. The paper describes the plunders of the post and the reorganization which is returning the company to life.

• OSTI ID: 6288335
• Journal Information: Independent Energy; (USA), Journal Name: Independent Energy; (USA) Vol. 20:5; ISSN XY987; ISSN 1043-7320
• Country of Publication: United States
• Language: English

Related Subjects

17 WIND ENERGY
170400* -- Wind Energy-- Economic
Industrial
& Business Aspects
CALIFORNIA
CONTRACTS
DESIGN
ECONOMICS
ENERGY SOURCES
FAILURES
FEDERAL REGION IX
FINANCING
LAWSUITS
LEGAL ASPECTS
MACHINERY
NORTH AMERICA
ORGANIZATIONAL MODELS
OWNERSHIP
POWER
POWER GENERATION
POWER PLANTS
RENEWABLE ENERGY SOURCES
SELLBACK
TAXES
TURBINES
TURBOMACHINERY
USA
WIND POWER
WIND POWER PLANTS
WIND TURBINES