Wind turbine developer Nordex USA is preparing for a 180 megawatt wind farm in southern Henry County.
The company outlined its plans for the Flat Rock wind farm project during Thursday's special Henry County Commissioners meeting. No vote was taken during the meeting. The purpose was to inform the public about the project.
County Council members Dick Bouslog, Harold Griffin and Clay Morgan were also in attendance.
Project Developer Chris Brooks said the wind farm will cost around $300 million to complete. Of the 75 total 2.5-megawatt wind turbines proposed for the project, around 21 will be built in Franklin and Dudley townships. The total acreage of the project is 22,250 which spans across southern Henry County and northern Rush County.
Brooks said the project has been in development since 2010. He used a PowerPoint to explain the benefits Henry County receives from the wind farm.
"Aside from the local revenue it brings to the landowners who participate, it also brings tax revenue to the county and the townships," Brooks said. "It brings jobs to the community and brings economic development associated with the construction of the project."
Brooks said the project's current phase deals with financing. Nordex is studying how to sell the electricity generated by the wind turbines. Either they will sign a long-term purchase agreement with a utility company or sell the electricity on the power market.
Also during this time, the company is working with the county and townships to make sure they are abiding by local zoning ordinances. Henry County and Rush County both have wind energy guidelines in place. Once this phase is approved by all and building permits are issued, construction can begin.
Brooks said one more big item they are working right now to get is a 10-year, phased-in tax abatement for the project.
"Indiana tax abatements are regularly granted to qualified industrial projects that bring economic benefits to a county," Brooks said. "Every wind project in Indiana has been granted a tax abatement."
Jason Semler, Henry County financial advisor, explained the impact the project has on the Henry County taxpayer. Since the project's assessed value is $22 million, once added to the county tax base, a 1 cent reduction will be seen in the tax rate throughout the entire county. Any tax district that overlaps with South Henry School Corp, will see a 7 cent reduction.
"For instance, Dudley Township has a tax rate of $1.63, so with additional $22 million assessed value added, the tax rate will decrease to $1.56," Semler said. "But that's after they are awarded the tax abatement. The rate would be reduced over a 10-year period."
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