First Wind, an independent U.S.-based renewable energy company, has announced that the company has reached an agreement with Burlington Electric Department (BED) to sell the utility power generated from the planned Hancock Wind project near Ellsworth, Maine. BED is seeking to source 100% of its supply needs from renewable energy. The addition of the energy from the Hancock Wind project will bring the utility to 92%.
First Wind will sell 25% of the power and renewable energy certificates (RECs) generated at the 54 MW wind farm for the next 10 years under a fixed-price agreement to the Vermont utility.
Barbara Grimes, general manager of BED, expressed her enthusiasm for the project. “BED has a goal of bringing more renewable power to its customers, and this contract will help us achieve that goal. Stably priced, clean, green and locally generated power is the way to keep our economy strong and our environment clean,” she said.
“We’re happy to help BED meet its renewable energy goals,” said First Wind CEO Paul Gaynor. “This project will help provide clean, renewable energy to Burlington ratepayers at a highly competitive cost, and the Hancock Wind project will deliver significant economic benefits throughout Down East Maine.”
When built, the Hancock Wind project will feature 18 turbines with a capacity of 3 MW each, and it will be situated near the operating 34 MW Bull Hill Wind project in Hancock County, ME, which began operations in November 2012. The energy is being sold to BED at a cost-competitive price that will help to stabilize the utility’s rates over the 10 years of the contract, in addition to the renewable energy credits. First Wind currently operates five wind projects in Maine and one in Sheffield, VT.
Burlington Electric Department
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