N.H. approves $4M bond to finance Berlin wind farm project

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CONCORD, N.H. (AP) — New Hampshire’s Executive Council has approved a $4 million bond to help finance a wind farm in Berlin.

Jericho Power LLC would put five turbines on Jericho Mountain. That would generate enough electricity to power some municipal buildings or hundreds of homes. The project has been approved by the city of Berlin.

Gordon Deane, president of Massachusetts-based Palmer Capital, which owns the project, said about 70 percent of the power generated would be bought by the New Hampshire Co-Op for about 10 cents per kilowatt-hour over a 20-year agreement.

The Concord Monitor reported (http://bit.ly/1p5zkOa) the council voted 4-1 on Wednesday to finance the project using federally funded energy bonds administered by the state’s Business Finance Authority.

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