Monday, July 14, 2008


Excerpts from the 'Opinion" in the Saipan Tribune by Anthony Pellegrino.....
Story Here..........
I have in my possession information from a reputable mainland bank that is willing to finance the purchase of a 15-megawatt Caterpillar plant for $10 million. The CNMI will own it. This is not a lease like the Aggreko deal! This bank will finance $8.5 million of it at $80,000 per month. The interest rate is a fixed 5 percent per year. That is a savings of over $424,000 per month over the Aggreko deal! The Aggreko deal has no warranty. The Caterpillar has a full warranty. The Aggreko lease starts to charge the CNMI the minute the unit leaves their facility, not when it starts making electricity (like most leases). And the best part is that the CNMI can use CIP funds for the $1.5 million down payment on the Caterpillar unit-because the CNMI will OWN IT! Not lease it.
Here is a direct quote from the information I possess: “We [the bank] can do a 48.2 MW new power plant for approximately $35,000,000. Add the Caterpillar 15MW, and you have a 63.2 MW new plant. So we can do the 15 MW Caterpillar loan now, so the plant is up to speed, and start to work on the complete replacement plant, which can be ready in about 6 months.” There is more to this offer. A 5-megawatt waste-to-energy plant can be included which will burn all our trash, converting it into energy with no harmful emissions and uses no fuel! It is EPA-approved. With this we can eliminate the need for landfills on the three islands. It will even burn existing waste already in the landfill. Does this sound too good to be true? Well, the bank people will be here on island next week to present this offer to the government. Watch for more details.
But the greatest part of all this is that the loan from this bank will be guaranteed by the U.S. government. This bank has been thoroughly checked out and is totally legitimate. Please ask our government what is happening to this deal. It was offered back in January but refused. Now there seems to be a change of heart. To learn more about this, contact some of the legislators to whom I have passed this information. As has been repeatedly stated by others and me, there is genuine help waiting to solve our problems if only we show willingness and reach out for help to the right people. Please watch what happens to the offer. I know I will. **********************************************************
I don't know about you but everywhere I look at this it sounds better then the deal with Aggreko.
The only problem here, as I can see it, is it is a legitimate business deal. This is probably a hard deal to take under the table payments from, therefore not attractive to this corrupt government.
If the government doesn't take a long hard look at this they should pay Aggreko themselves.
Click on the Story Here and read some of the humor that goes along with the story. It'll relieve a small bit of tension from everyday stress.
To the Legislature and CUC... Give this a good look or be responsible for more stupid decisions...


Marianas Pride said...

There has to be some dirty reason why this administration keeps insisting on the Aggreko deal. Someone is going to benefit from it, and it won't be us.

It is maddening!

Lil' Hammerhead said...

This sounds like a great deal. I agree with MP. Something very fishy is happening. I have a feeling that when all is said and done.. certain folks will be spending time at a federal correctional facility.

Anonymous said...

What's in it for Pellegrino? Read Article from AG Greg Baka about Pellegrino business dealings a couple of months back.

glend558 said...

What's in it for Pellegrino?
May I suggest a better CUC and lower power costs and less power outages, same as for you and me.
Pellegrino isn't making the deal he's telling us about it. Do you have a better one? We will listen to it too!

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