Lawmakers debate wind farm funding plan

PROVIDENCE, R.I. (AP) - Rhode Island lawmakers will consider a new plan for financing an offshore wind farm that Gov. Don Carcieri wants built.

Legislation introduced Wednesday would require energy distributor National Grid to buy electricity from wind turbines and other renewable sources for 15 years or longer.

The bill tries to solve a problem blamed for the slow development of green power in Rhode Island: no one has agreed to buy it for the long term. Renewable energy developers say that unless they have a steady customer, getting project financing is difficult.

Since National Grid would be forced to buy renewable electricity, it could collect a payment from its customers equal to about 3 percent of the value of its renewable energy contracts. Lawmakers have not decided on an exact rate.