Publish Date : 10-Dec-2013
First Wind has entered into a contract with Burlington Electric Department (BED) to vend the utility power produced from the planned Hancock Wind project close to Ellsworth, Maine.
As per the terms of the agreement First Wind will vend 25% of power and renewable energy certificates (RECs) produced at the 54 megawatt (MW) wind farm in the coming 10 years under a fixed-price agreement to the Vermont utility.
The energy power is being vended to BED at a reasonable price to steady the utility's rates over the 10 years of the pact along with the renewable energy credits.
Barbara Grimes, general manager of BED, expressed her excitement for the project quoting "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.
Paul Gaynor, CEO of First Wind told "We're happy to help BED meet its renewable energy goals. 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."
The Burlington Electric Department (BED) is a municipally-owned electric utility located in Burlington, Vermont. It is the largest municipally-owned electric utility in Vermont. It has over 19,600 customers. It is the only utility providing electricity to the city and the Burlington International Airport, South Burlington.
First Wind is an independent North American renewable energy company focused on the development, financing, construction, ownership and operation of utility-scale power projects in the United States. Based in Boston, First Wind has developed and operates 980 megawatts (MW) of generating capacity at 16 wind energy projects in Maine, New York, Vermont, Utah, Washington and Hawaii. Headquartered in Boston, MA, company focus on developing and operating renewable energy projects in the Northeastern and Western regions of the U.S., and also in Hawaii. Its operating fleet consists of 16 projects with 980 MW of capacity. In addition, it has developed and operated two generator leads with transmission capacity of 1,200 MW, which connect Stetson, Rollins and Milford projects to the grid.
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