Emmet County Energy, LLC, based in north central, Iowa, was formed in 2005 specifically for the purpose of developing a 200 megawatt (MW) community-owned wind project located in Emmet and Dickinson Counties, Iowa. The project is collectively referred to as the NorthStar Wind Farms. The NorthStar Wind Farms consist of the following developments:
• NorthStar One is an 80 MW project, supported by a Power Purchase Agreement. This project is being financed on an “equity flip” structure and will provide long term financial benefits for the local investors, in addition to the amounts paid to landowners through turbine leases.
• NorthStar Two is a 120 MW project that will be sold to an institutional investor/utility. The local landowner/investors will receive the profits from both the sale and the turbine leases.
The local community’s financial strength stands behind the NorthStar Wind Farms. The main objective of the project is to keep a substantial amount of its economic benefits in the community and with the local investors.
National Wind is the project manager, developer, investor and wind consultant for the NorthStar Wind Farms.
Wind Energy: United States and Iowa
Wind energy is the fastest growing source of power generation in the country. Wind offers a clean, limitless, low-cost energy solution for electricity generation. The NorthStar Wind Farms alone will provide enough electricity to power nearly 60,000 homes (300 homes per megawatt) and will eliminate 500 tons of greenhouse gas emissions annually.
Federal policy efforts continue to drive wind developments across the country and in Iowa. Iowa leads the Midwest in wind energy production, making it the nation’s third largest producer of electricity from wind.
Iowa is also the only state that offers a state production tax credit to community wind projects, which can be applied toward the state's personal income tax, business tax, financial institutions tax, or sales and use tax. The North Star Wind Farms have applied for, and anticipate receiving this tax credit.
Mission Statement
Emmet County Energy, LLC exists to produce and develop community-owned wind projects which are sustainable and environmentally responsible for generations to come. The company’s financial commitment is to create a thriving resource for the local economy, assuring a majority of the project’s financial benefits are shared with its local stockholders, area landowners, and the surrounding community.