Ottawa Wind Concerns has learned that a “Charge of Lease” has been placed on the South Branch wind “farm” in the amount of $70 million. The charge is on the leasehold interest in five properties, where property owners have leased land for wind turbines, access roads, substations, and other parts of the wind power generation project.
Earlier this month, details came to light on the 140-turbine K-2 project near Goderich, Ontario, where a charge of lease has been filed on the title for 100 farm properties, in the amount of $1 billion.
The Charge of Lease is basically a financing agreement between a lender (who may represent investors in the wind power project) and the wind power developer, that can function as a line of credit. The basis for the Charge, as we understand…
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