CSU ends partnership with wind farm developer

FORT COLLINS – Colorado State University has decided to end its partnership with the developer it had selected to build a wind farm on university-owned land north of Fort Collins.

The developer, Wind Holding LLC, was not able to secure financing for the proposed 100-turbine project on the 10,000-acre Maxwell Ranch in northern Larimer County. The university’s development arm, the Colorado State University Research Foundation, notified Wind Holding on July 25 that it was in default on the two-and-a-half-year-old, $500 million project. CSURF gave Wind Holding 60 days to fulfill its obligation and then gave the developer another 30 days when that time period expired.

Finally, when Wind Holding did not meet an Oct. 31 deadline, CSURF declared the partnership was finished.

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“Despite best efforts on both sides, the Colorado State University Research Foundation could not reach agreement with Wind Holding on a path forward for development of the Maxwell Ranch wind farm,´ said Bill Farland, CSU’s senior vice president for research and engagement, in a statement. “Given the expiration of the Oct. 31 deadline to cure the problems in the lease, the foundation has found Wind Holding officially in default of its lease. In light of the failed attempt to reach an equitable solution, CSURF will officially notify Wind Holding this week that it is in default.”

Farland said the university still plans to build a wind farm on the Maxwell Ranch property, although it will have to essentially start over on the project, originally announced by former CSU President Larry Penley in March 2007, designed to provide all of CSU’s power needs by 2015.

“While this is a temporary setback for the project, the university is still very committed to building a wind farm on this site and will take the next few months to review opportunities for the property,” Farland said. “The university is committed to doing its part to encourage research into clean and renewable energy solutions as well as working with Larimer County and neighbors to build a wind farm at Maxwell Ranch.”