The Maine Wire
  • News
  • Commentary
  • The Blog
  • About
    • Contact
  • Investigations
    • Data
  • Donate
Facebook Twitter Instagram
Trending News
  • China Tries Getting Rich In America’s Backyard
  • Rockland Police Search for Man in Connection to Reported Assault
  • Residential and Condo Associations in Maine Can No Longer Ban Members from Installing EV Chargers
  • Angus King Co-Sponsors Republican-Led Bill Mandating Steps to Combat Chinese Espionage
  • Here Are the Tax and Fee Increases Mainers Can Expect from the Budget Janet Mills Signed into Law on Monday
  • Maine Wildlife Chief on Covering Up Dark Web Drug Scandal Involving Ex-Husband: “can’t talk about personnel…”
  • “Environmental” Group Trashing Maine Mills Actually Opposes Two Clean-Energy Sources — Oops!
  • ICE Agents Face a Massive Five-Fold Uptick in Assaults While Carrying Out Their Duties
Facebook Twitter Instagram
The Maine Wire
Tuesday, June 24
  • News
  • Commentary
  • The Blog
  • About
    • Contact
  • Investigations
    • Data
  • Donate
The Maine Wire
Home » News » News » King Wind Project Cited by Congressional Investigation
News

King Wind Project Cited by Congressional Investigation

Steve RobinsonBy Steve RobinsonMarch 21, 2012No Comments3 Mins Read
Facebook Twitter Email LinkedIn Reddit
Share
Facebook Twitter LinkedIn Email


Report Refers to project as part of a pattern of “dysfunction, negligence and mismanagement”
(This story was updated at 3:44pm)

Just a day after Angus King announced he was divesting his stake in his wind energy company, a Congressional Oversight Committee has called into question the basis for a $102 million loan guarantee granted to King’s Record Hill Wind project.

The U.S House of Representatives Committee on Oversight and Reform yesterday released an extensive report on questionable funding for projects authorized through the U.S. Department of Energy. The report, titled “The Department of Energy’s Disastrous Management of Loan Guarantee Programs”, reveals that the Record Hill project received a loan guarantee based on “questionable reasoning” by King’s company.

From the report:
“After conducting a substantial review of the Department of Energy’s (DOE) loan guarantee program, it is clear that the significant losses absorbed by taxpayers as a result of Solyndra’s collapse is just the beginning. The investigation conducted by the House Committee on Oversight and Government Reform has uncovered numerous examples of dysfunction, negligence and mismanagement by DOE officials, raising troubling questions about the leadership at DOE and how it has administered its loan guarantee programs.”

The report shows that the Department of Energy (DOE) “approve[d] Record Hill Wind’s $102 million loan guarantee project as “innovative,” despite the project using commercial technology. DOE knew that the Record Hill project did not use significantly innovative technology.”

“the Record Hill Wind project attempted to categorize minor modifications to existing commercial technology as “innovativeness.” DOE eventually agreed with Record Hill Wind’s questionable reasoning”

In 2011, Independence Wind partners Angus King and Rob Gardiner celebrated the federal loan guarantee in a press release:
“The U.S. Department of Energy has issued a conditional commitment for a loan guarantee to cover a portion of the cost of constructing the Record Hill wind project… “We’re delighted that the exhaustive review done by the Department of Energy’s Loan Programs Office has resulted in this step toward making the project a reality,” said Independence Wind, LLC President, Rob Gardiner.”

The report’s release calls into question the timing of King’s announced separation from Independence Wind. Just a day before the Oversight Committee released its findings, King announced he would separate himself from Independence Wind to avoid a conflict of interest. According to the Associated Press:
“Independent Senate candidate Angus King completed the transfer of his stake in a wind energy company he co-founded to his business partner and said Monday he would go one step further to avoid any appearance of a conflict of interest by placing his investments in a blind trust.”

According to King’s campaign spokesperson Crystal Canney, King originally scheduled interviews last Friday to spread the word about his disassociation with Independence Wind. MPBN reported Friday the 16th that King had filed the paperwork to dissolve his relationship with Independence Wind, and that, “As a result, any financial benefits he might have received from federal energy subsidies as a principal in the company will no longer be valid issues in his campaign.”

Canney said that King had no knowledge of the Oversight report until it was released publicly this week.

“Angus is smart, but he is not clairvoyant.”

Details of King’s project can be found on page 63 of the report below.
FINAL-DOE-Loan-Guarantees-Report

Previous ArticleMaineHousing Director Dale McCormick Resigns
Next Article M.D. Harmon: A Plea for "Maine Private Radio"
Steve Robinson
  • Twitter

Steve Robinson is the Editor-in-Chief of The Maine Wire. ‪He can be reached by email at Robinson@TheMaineWire.com.

Subscribe to Substack

Related Posts

China Tries Getting Rich In America’s Backyard

June 24, 2025

Rockland Police Search for Man in Connection to Reported Assault

June 24, 2025

Residential and Condo Associations in Maine Can No Longer Ban Members from Installing EV Chargers

June 24, 2025

Comments are closed.

Subscribe to Substack
Recent News

China Tries Getting Rich In America’s Backyard

June 24, 2025

Rockland Police Search for Man in Connection to Reported Assault

June 24, 2025

Residential and Condo Associations in Maine Can No Longer Ban Members from Installing EV Chargers

June 24, 2025

Angus King Co-Sponsors Republican-Led Bill Mandating Steps to Combat Chinese Espionage

June 24, 2025

Here Are the Tax and Fee Increases Mainers Can Expect from the Budget Janet Mills Signed into Law on Monday

June 24, 2025
Newsletter

News

  • News
  • Campaigns & Elections
  • Opinion & Commentary
  • Media Watch
  • Education
  • Media

Maine Wire

  • About the Maine Wire
  • Advertising
  • Contact Us
  • Submit Commentary
  • Complaints
  • Maine Policy Institute

Resources

  • Maine Legislature
  • Legislation Finder
  • Get the Newsletter
  • Maine Wire TV

Facebook Twitter Instagram Steam RSS
  • Post Office Box 7829, Portland, Maine 04112

Type above and press Enter to search. Press Esc to cancel.