PRAIRIE GREEN TOWNSHIP — A developer has terminated its plans for a proposed wind farm in Prairie Green Township in Iroquois County.
Terra-Gen officials cited "the current market conditions" and other issues for the company's decision to terminate the development of the Horseshoe Wind Farm.
"Obviously, we regret that the project has not been successful, but strongly believe that the current market conditions will not support the likelihood of success in the near future and therefore have decided to discontinue our development efforts in the area," wrote Bill Castor, vice president of development for Horseshoe Wind Development LLC, in a letter to landowners in Prairie Green Township.
The letter was provided to the Paxton Record by county board member Rod Copas of rural Gilman.
"Specifically, the following concerns have led us to this conclusion," the letter said:
— "The lack of a clear U.S. energy policy and resulting uncertainty regarding the market need for renewable energy;
— "Reduced forecasts for load growth for most of the area utilities due, in no small part, to the economic downturn and the resulting reduction in forecasted need for renewable energy; and
— "The lack of significant progress related to new transmission infrastructure in the area."
The letter did not cite a moratorium on further wind-farm development in Iroquois County. The moratorium remains in place.