Louis Bacon is defending his property "Trinchera Ranch" from public utilities Xcel Energy and Tri-State Generation and Transmission Association Inc. running transmission lines through it.
Louis Bacon, a 54 yr. billionaire hedge fund manager bought Trinchera Ranch from the Malcolm Forbes family in 2007 for $175 million. At the time it was the highest price paid for a single-family home in American history. The Forbes family permanently removed the development rights for the ranch in 2004.
Xcel Energy and Tri-State Generation and Transmission Association want to run transmission lines across the 171,400 acre ranch and have planned the lines for quite a while. The companies maintain that these lines have been approved and meet the clean-energy requirements for the state.
Bacon said in a Denver Post interview "Having helped many others in their fights against outside, profit-oriented polluters, I couldn't shirk this battle when I know there is so much at stake for the San Luis Valley residents, the range, the environment, the animals and for all of Colorado."