The voters of Portsmouth approved the referendum question that authorized the Town to obligate up to $3 Million to construct a wind turbine at either the High School and/or Middle School. The Town has secured $2.6 million in zero interest bonds to be used, specifically, for the wind project. The balance of the cost of the turbine (estimated to be $400K for a total $3 million project cost) will be using conventional bonds at market rate or lower cost funding via the State Renewable Energy Fund. We expect that the wind turbine will return over $200K each year when we are paying off the bond (about 12 years) and nearly $500K for the rest of the 20+ year expected life of the turbine. THAT REVENUE IS OVER AND ABOVE THE COST OF BUILDING, OPERATING, INSURING, FINANCING AND DISPOSING OF THE TURBINE AT THE END OF ITS USEFUL LIFE. Now we plan to issue a Request for Proposals (RFP) to see what wind energy firms can offer as to actual price and delivery schedule. Although, right now, the Middle School appears to be the best option (based on economic return), there are many other factors that have to be finalized (including a comparison of actual construction cost at each site). The RFP will ask firms to bid on both the Middle School and High School sites so that an actual cost comparison can be used.



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