The Nedpower project had clearly failed to gain any investment momentum due to Nedpower's lackluster ability to promote the project and investors realization that the plans costs and ROI projections are less than convincing. So it appears Nedpower are stepping away in favour of what they are hoping is a company big enough to push through their poorly-conceived venture.
However - key is the decisions of landowners on the mountain top who control access to the location and sites for power components and substation deployment.
Quite how landoweners will react to this news and how this effects any existing contractual agreements remains to be seen. Along with what new legal issues this may raise concerning the original decisions, and whether these will now be required to comply to the new West Virginia 2005 regulations for Wind energy Projects. If Shell Wind have to go back to the State to re-structure the project then they may well need to re-certify.
Clearly the Mt Storm project is now entering into another phase from which the outcomes are not at all clear. It remains to be seen if the citizens of West Virginia embrace Milton Hernandez of Shell Wind as a partner any more than Nedpower. Readers may find that his initial pronouncement lacks depth in showing that he has the required strong understanding of the region and the needs of its people combined with the prime financial metrics and success factors.
No details of the terms agreed between Nedpower and Shell Wind were available.