Over the past year, we’ve documented how creative thinking in Illinois—from local school districts kicking their dependence on electricity to the proposed development of turbines over the Great Lakes—has established the Prairie State as a leader in developing wind resources. But according to an AP article yesterday, cash for new wind projects is drying up due to the meltdown in the financial industries:
Firms like AIG, Lehman and Wachovia helped finance many projects by taking short-term ownership in exchange for the credits to help offset their own income.
Those three were among the biggest investors in the [wind] industry. Now, AIG is trying to survive the financial meltdown, Wachovia is being bought by Citigroup and Lehman Brothers filed for bankruptcy this year before being sold [...]















