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Dominion puts area solar-power projects into service

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Energy provider Dominion Resources Inc. has placed three solar-power generation projects in Indiana into service.

The Richmond, Va.-based company said Monday that the projects near Indianapolis are capable of providing enough electricity for up to 7,200 homes.

The projects have 15-year power-purchase agreements with Indianapolis Power and Light Co.

Dominion acquired the projects in July from Sunrise Energy Ventures. It is the third solar generation facility the company has placed into service this year.

Terms of the deal were not disclosed, but Sunrise put a price tag of more than $50 million on the projects earlier this year when it sought zoning approvals and government funds to help develop them.

The three projects are known as Indy Solar I, Indy Solar II and Indy Solar III. Two of the projects are located 155 acres southeast of Indianapolis in Franklin Township. The third, located southwest of Indianapolis in Decatur Township, was sited on 134 acres.

Engineering and construction firm AMEC built the three facilities.

Dominion is one of the nation's largest producers and transporters of energy and serves retail customers in 15 states.

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  • development
    wouldn't this make more sense to place these on top of large warehouses or on old brownfield sights instead of unused farmland?

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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