The turbine will be owned and operated by Scituate Wind LLC, a company created with Solaya Energy LLC and principals of Palmer Capital Corp. in 2009. Their funding, along with a $3 million bond from MassDevelopment, enabled the project to be built on land that the town is leasing to Scituate Wind for a 15-year term. The town has the option of renewing the lease with the company for two consecutive five-year terms.

In exchange for leasing the land for $1, the town will obtain electricity for one-half its municipal needs at a discounted rate, saving an estimated $4.5 million over the next 15 years. Read more.