It may surprise some...but most of America is farms. We have more farmland than anything else. And a lot of that farmland is windy farmland. But while wind is a stable and fairly high-yield crop, it requires huge start-up investment. So if you're a company that has a good relationship with farmers, a lot of money, and a tiny bit of foresight, you're in a good position to do some hefty financing and ensure excellent returns for the forseable future.
Which is exactly where John Deere comes in. They've been loaning farmers, or groups of farmers, money to build wind turbines on their land for the last five years. The results have been exciting. The wind farms don't disturb any habitat that isn't already irreperably altered and farmers get another income that requires very little of their land.
CNN's coverage of the deal shows Deere paying for half of a $10,000,000 project, a bank loan covering most of the rest, and farmers themselves putting up just $10,000 a piece. John Deere makes almost all of the money for the first ten years, while the farmers get a modest increase in their income. Then, after the project is completely paid off, the farmers get to sit back and rake in the cash while the rest of us benefit with a much more robust energy portfolio.
Developing rural america, supporting farmers, making tons of cash and going green. Win Win Win Win situations are great.
Thanks to paul for the link:
Via CNN Money
Used Tractors are available as well.
written by weee, September 06, 2007
written by Mark, September 07, 2007
written by jesissickoffossilfuels, April 27, 2008
written by Jensen, January 19, 2010
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