Mainebiz

V O L . X X I I N O. X I V J U N E 2 7 , 2 0 1 6 6 Wind farms could be sold for $26.5M Pattern Energy Group Inc. could pay $26.5 million for the development rights of the proposed King Pine wind project, which would be Maine's single-largest wind farm, the Bangor Daily News reported. Rights to King Pine are owned by SunEdison, which is restructuring its debt under Chapter 11 bankruptcy pro- tection. If built as planned, the project would have 174 turbines and capacity to produce 600 megawatts. e proposal depends on San Francisco-based Pattern Energy winning a supply contract from Massachusetts, Connecticut and Rhode Island under the New England Clean Energy request for proposals. As reported by Mainebiz in April, the Aroostook County wind farm proposal represents less than half the power Central Maine Power and Emera Maine's joint Maine Renewable Energy Interconnect pro- posal plans to deliver to the three south- ern New England states. e proposal also includes two Aroostook wind farms being developed by EDP Renewables North America LLC — the 400-mega- watt Number Nine Wind Farm and 248-megawatt Horse Mountain Wind Farm — and is expected to send enough electricity to service 250,000 homes in southern New England. N O T E W O R T H Y S T A T E W I D E U.S. Sens Susan Collins and Angus King announced the Hampden Fire Department will receive $16,378 for a turnout gear washer and dryer, Holden Fire and Rescue will receive $52,381 for an air refill system and compressor and Presque Isle Fire and Rescue will receive $24,572 for firefighter turnout gear. The grant funding was awarded through the Assistance to Firefighters Grant program. In the fall, the University of Maine at Farmington and the University of Southern Maine in Portland will offer the Psychology-Counseling 3+2 Program (B.A. to M.S.) and Psychology-Social Work 3+2 Program (B.A. to M.S.W.) pro- grams making it possible for students to receive their bachelor's in psychology and their masters in counseling or so- cial work in five years instead of six. The U.S. Department of Health and Human Services said Maine will receive $3.89 million in Fiscal Year 2016 funding B U S I N E S S M A I N E Business news from around the state S T A T E W I D E Are Your Utility Projects... www.ontargetservices.com On Target Utility Services, in operation since 1994, is the locating and construction services provider of choice for New England utilities. e largest private locating company in New England, On Target is an industry leader in safety, self-imposing a higher standard of accuracy while consistently delivering a competitively priced, quality product on-time. On Target's well-equipped utility construction division feaures expert crews, custom designs built to utility standards, and private contractor cost efficiency. Regulators approve WEX deal WEX Inc. (NYSE:WEX), a South Portland-based corporate payments company, said June 16 that the U.S. Federal Trade Commission approved its previously announced acquisition of Electronic Funds Source LLC, a fleet card provider, for $1.1 billion in cash plus 4 million shares of common stock. The transaction, announced last October, is expected to close at the beginning of the third quarter, subject to cus- tomary closing conditions, the company said in a release. WEX intends to finance the $1.1 billion cash portion of the deal consideration through a new revolving credit facility. Based on the current expectations for closing and financ- ing rates, WEX reported that it expects the transaction will add to its adjusted net income over the next 12 months. However, given the timing of the close, it does not expect the transaction will have a material impact on previously issued guidance for the remainder of 2016. Additional details on deal synergies expected to occur after the transaction closes would be provided when it announces its second quarter 2016 results, the company stated in its release. At the time the acquisition was first announced last fall, WEX characterized Ogden, Utah-based Electronic Funds Source's strong track record and broad customer base in mid- and large-sized over-the-road fleet segments as an "ideal complement" to its own fleet card offerings. Because the two companies have focused on different parts of the corporate payments sector, the deal would allow customers to benefit from a combined set of capabilities, the company said at that time, noting that for WEX customers, the acquisition would mean more of a variety of corporate card options, including a single, multi-purpose card. — J a m e s M c C a r t h y

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