First Wind gets financing for turbine project in Aroostook

Boston-based First Wind closed Thursday on a $369 million financing package that will enable the wind power developer to pursue the Oakfield Wind project in Aroostook County.

The financing includes a $237 million construction loan and $132 million in equity contribution, according to a news release from the company.

With the last piece of financing in place, the company intends to have the 48-turbine wind farm operating by the fourth quarter of 2015. The electricity generated by the project – 148 megawatts – is contracted to be sold to customers of four Massachusetts utilities as part of a 15-year agreement, and is expected to be enough to power the equivalent of about 50,000 New England homes.

According to the company’s release, the project will create about 300 jobs during its construction and provide $27 million in tax and community benefits to Oakfield and its region over 20 years. 

No Apple-Samsung verdict; jurors will try again Friday

California jurors have ended the day without reaching a verdict and will continue deliberating in a legal fight between Apple and Samsung over smartphone technology.

The four men and four women left the federal courthouse in San Jose on Thursday after a full day of deliberations, which will resume Friday.

Each company has accused the other of infringing on smartphone technology.

Marijuana business co-op plan advances in Colorado

A Colorado plan to set up the world’s first financial system for marijuana has cleared its first hurdle in the state Legislature, despite reservations from supporters that the plan will work.

The bill approved by a House committee Thursday is prompted by frustration with recent marijuana banking guidance from the U.S. Treasury Department.

The measure would allow state-licensed marijuana businesses to create a financial co-op, sort of an uninsured credit union. The U.S. Federal Reserve would still have to grant permission for the co-ops to provide banking services like checking and credit Sponsors concede the plan is a long shot. But they say Colorado must try every option to move the pot industry away from its cash-only roots.

Air bag issue leads Honda to recall 25,000 minivans

Honda is recalling 24,889 Odyssey minivans from the 2014 model year because their side air bags may not deploy during a crash.

Honda says a shorting terminal, which prevents deployment of the air bag before it’s put into the vehicle, may have been damaged during the assembly process. That may illuminate the air bag warning light and prevent the side curtain air bags from deploying.

Honda says no crashes or injuries have been reported related to the issue, which was discovered through warranty repairs.

— From news service reports