Catamount devoting itself to wind

Vermont Business Magazine, Aug 01, 2002 by Marcel, Joyce

The future of Vermont's electric power may be blowin' in the wind. In recognition of the growing demand-as well as the growing necessityfor cleaner power, in the past five months Catamount Energy Corporation of Rutland has entered into two joint ventures to develop, own and operate wind-powered electrical generation facilities.

The first project, announced in April, is a partnership with Force9Energy Ltd of Amersham, England. The goal is to develop in England, Scotland and Wales wind energy projects amounting to 300 megawatts during the next four years. Catamount, an unregulated independent subsidiary of Central Vermont Public Service, will fund and manage the venture.

The second project, announced in May, is a joint venture with North American Renewables Corporation. The new venture, named New England Windpower, plans to develop, own and operate windpowered electrical generation facilities in New England.

Catamount has always been in the renewable energy business, but it appears that wind, rather than solar or any other kind of power, is the most promising technology for the future.

"We've done hydro projects, wood chips and chicken waste," said CVPS spokesman Steve Costello. "Wind has just become just more effective and efficient in the past 10 years. It's more in demand as well. Deutsche Bank expects growth of 15- to 20 percent annually in the amount of wind energy out there. So Catamount has made a major strategic decision over the last year or so to focus entirely on wind generation projects."

To build itself as a force in wind power, Catamount went headhunting. Last year, it lured James Moore away from American National Power to be CEO and president. He, in turn, lured Robert Charlebois to be a managing director of business development. In May, Moore returned to the ANP pond and fished out Joseph E. Cofelice, who will be Catamount's new president. Moore will now just be CEO and a director of CVPS. Under Moore and Cofelice, ANP grew from a $130 million company in 1994 to a nearly $2.5 billion company in 2001.

"Joe Cofelice came to us because of Vermont's lifestyle, because of what Catamount had done in the past, and because he sees an opportunity to build something really special," Costello said. "The goal is to build the premiere wind energy company."

CVPS already offers power with "virtually no fossil fuels and a minimum of oil," Costello said. "Back in the 1940s, CVPS was the first company to use a windmill that generated power for the grid. We were pioneers in the industry. Today, we see wind as one of the most important generation sources available. It's extremely clean, it's cost effective to build the towers, and the technology is far more efficient."

In Europe, Catamount and Force9Energy expect to build somewhere between 125 and 200 turbines over the next few years.

"These are enormous turbines," Costello said. "A megawatt or more each, and 200 or so feet tall."

In New England, especially in Vermont, Catamount is looking for windmill sites.

"I'm not in position to talk about where they are," Costello said.