Iberdrola halts work on $100 million Lakeview biomass project

Iberdrola Renewables told stakeholders in Lake County Wednesday that it would stop working on its planned $100 million biomass plant in Lakeview at least until energy prices improve.

"The bottom line is that we didn’t get the long-term purchase from a utility," said Jan Johnson, Iberdrola’s Portland-based spokesperson. Johnson said low electricity prices nationally, combined with uncertainty about the rule surrounding California’s new renewable portfolio standards, convinced Iberdrola that it shouldn’t proceed with the Lakeview plant.

By Mike Francis, The Oregonian

Full Story: http://www.oregonlive.com/business/index.ssf/2011/10/iberdrola_halts_work_on_100_mi.html