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Lucid Energy wants out of city lease for hydroelectric test site in Goshen, IN January 10, 2012

Posted by Laura Arnold in Federal Energy Regulatory Commission (FERC), Uncategorized.
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Lucid wants out of city lease.

Posted: 01/10/2012 at 1:15 am

by: Justin Leighty
jleighty@etruth.com

GOSHEN — Lucid Energy will ask the Goshen Redevelopment Commission this afternoon to be allowed to back out of a lease for the powerhouse at the north end of the Millrace Canal.

Lucid planned to use the site as a local test-bed for its own hydroelectric generating equipment.

It applied for a preliminary permit from the Federal Energy Regulatory Commission to generate power at the site, but because of the time and expense of a full permit, Lucid decided to apply for an exemption, Lucid representatives told the commission last year.

The word Lucid got from FERC was that a decision was coming — soon. Soon dragged on, though.

“Due to the extended period of time it took FERC to make a decision, Lucid has made other arrangements for a test site,” wrote Mark Brinson, Goshen community development director, in a report to the commission in advance of today’s meeting.

By the time it got the approval a few months ago, it was only for 18 months, far short of the 5-year term of the lease Lucid entered into with the commission.

The lease was contingent on Lucid getting approval for power generation. Payments were to start after the company got approval from FERC.

Since that happened, the company could owe $3,600 to the city for the lease up until this point.

Lucid’s Tim Braun will give the commission details today and ask to get out of the lease, which called for payments of $450 a month and included a $3,000 up-front fee.

For more information on Lucid Energy visit: http://www.lucidenergy.com/

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