Farewell, Hunt Power "Verde" Transmission Project. Don't let the door hit you in the backside on your way out.
On August 2, 2019, the Verde Transmission Project notified the United States Bureau of Land Management and the United States Bureau of Indian Affairs that the Project would not be moving forward and that the Project was officially requesting to withdraw its application for right-of-way approval from these agencies.
This merchant project was staunchly opposed by the local community, who formed Stop Hunt Power Line.
A merchant transmission project is funded by its contracted customers. No customers, no funds, no project! Speculative merchant transmission projects without contracted customers just don't work.
THEY DON'T WORK!
It's classic chicken/egg, and I really hope private investors are done financing these pie-in-the-sky ventures. I wonder how much Hunt's investors dropped into "Verde" before wising up? Was it less than the $200M Clean Line Energy Partners' investors dropped into its speculative merchant projects?
If you propose to build it, they won't come. Utilities hate risk and speculative merchant transmission projects are about as risky as they come.
What's really sad is that, once again, a community had to spend its own hard-earned money defending itself against a speculative merchant transmission venture. When is someone going to hold these clowns accountable and file a civil suit?
But, now it's time to celebrate!
A merchant transmission project is funded by its contracted customers. No customers, no funds, no project! Speculative merchant transmission projects without contracted customers just don't work.
THEY DON'T WORK!
It's classic chicken/egg, and I really hope private investors are done financing these pie-in-the-sky ventures. I wonder how much Hunt's investors dropped into "Verde" before wising up? Was it less than the $200M Clean Line Energy Partners' investors dropped into its speculative merchant projects?
If you propose to build it, they won't come. Utilities hate risk and speculative merchant transmission projects are about as risky as they come.
What's really sad is that, once again, a community had to spend its own hard-earned money defending itself against a speculative merchant transmission venture. When is someone going to hold these clowns accountable and file a civil suit?
But, now it's time to celebrate!
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