Sep 15 2010
Performance Services, Inc, an Engineering and Construction company, has signed land lease agreements with the farmers of Lafayette, Indiana, to construct a 50 MW wind farm.
The company has leased 2,500 acres of land at Tippecanoe County, in Lafayette a place that has potent wind resource and easy accession to power transmission lines. The farmers who leased their land to the company will regularly grow crops while earning additional income from the wind turbine generated power.
The company has made a detailed study for a number of months on the environment and wind generation capacity of the location. The wind farm to be christened as Performance Park Wind Farm will become fully operational by December 2012. The wind farm will benefit the land owners with lease payments and the municipal services with taxes when it is fully functional. The company is planning to involve public school districts in the wind farm as investors to avail direct tax benefits.
Tim Thoman, the company’s President, said that the wind farm has the potential to earn $175 million dollars in total which can be used for funding schools and universities that take part in the venture during the next 25 years. He added that the park will also offer a direct learning experience for the students with an incorporated study curriculum by the schools to replicate the environmental leadership and sustainable practices among the student community.