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"Renewables Fever" May Come Back To Burn March 12, 2010

Some bankers and developers say the rush to develop renewable projects and the resulting dearth of gas-fired projects will come back to bite the industry over the long term.
"You're throwing on all this new green energy, but it's not baseload capacity," says Paul Buckovich, senior v.p. of finance for wind and thermal developer Competitive Power Ventures in Braintree, Mass.
The problem is that federal carrots--such as the U.S. Department of Treasury cash grant program--are too sweet a deal to overlook in the name of building baseload capacity. "We haven't had anyone come to us in recent memory and ask for gas-fired plant financing," says one project finance banker in ...

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