First Wind to sell power from Hancock wind project to MMWEC

Renewable energy firm First Wind has agreed to sell about 75% of power produced from the 51MW wind farm in Maine, US to Massachusetts Municipal Wholesale Electric (MMWEC).

MMWEC will purchase electricity generated by the Hancock wind project, located near Ellsworth, under a 25-year contract and resell it to 17 local utilities.

The remaining energy from the project will be purchased by Burlington electric department in Vermont.

After completion, the Hancock wind project will include 17 turbines with a capacity of 3MW each.

MMWEC CEO Ronald DeCurzio said the contract brings competitively priced energy from the Hancock Wind project to the customers of municipal utilities.

"It also brings a valuable measure of diversity and price stability to the MMWEC resource mix at a time when the region’s reliance on natural gas is of concern," DeCurzio added.

First Wind said MMWEC’s commitment to renewable energy includes the financing and development of several wind and solar resources in conjunction with its member utilities.

The developments include the 15MW Berkshire Wind power project in western Massachusetts and various smaller municipal wind and solar projects.

First Wind CEO Paul Gaynor said the Hancock wind project will deliver pollution-free electricity to customers.

"We look forward to moving toward construction on this project and making a major economic investment in Down East Maine," Gaynor added.

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http://www.firstwind.com/sites/default/files/MMWEC%20PPA%20Hancock_FINAL_121313.pdf
MMWEC, First Wind Sign Contract for Hancock Wind Project Energy
BOSTON & LUDLOW, Mass.–(BUSINESS WIRE)–First Wind, an independent U.S.-based renewable energy company, and the Massachusetts Municipal Wholesale Electric Company (MMWEC) today announced an agreement that will bring clean energy from First Wind’s planned Hancock Wind project near Ellsworth, Maine to 17 Massachusetts municipal utilities.
Under a 25-year, fixed-price contract, First Wind will sell nearly 75 percent of the power and capacity generated at the 51 megawatt (MW) wind farm to MMWEC. Consistent with its nonprofit, Joint Action Agency model, MMWEC will resell the power and capacity at cost to 17 of its member municipal utilities, which are based in the communities of Boylston, Chicopee, Groton, Holden, Holyoke, Ipswich, Mansfield, Marblehead, Paxton, Peabody, Russell, Shrewsbury, Sterling, Templeton, Wakefield, West Boylston and Westfield. Burlington Electric Department in Vermont is purchasing the remaining energy from the Hancock Wind project.
"This contract brings competitively priced energy from the Hancock Wind project to the MMWEC power portfolio and to the customers of our municipal utilities," said Ronald C. DeCurzio, CEO of the MMWEC. "It also brings a valuable measure of diversity and price stability to the MMWEC resource mix at a time when the region’s reliance on natural gas is of concern."
MMWEC’s commitment to renewable energy includes the financing and development of numerous wind and solar resources in conjunction with its member utilities. Such resources include the 15-megawatt (MW) Berkshire Wind Power Project in western Massachusetts and several smaller municipal wind and solar projects. The MMWEC portfolio also includes ownership of more than 700 MW of natural gas, oil and nuclear generation in New England, which also is sold at cost to municipal utilities.
"As a Massachusetts-based company, we’re excited to bring clean wind power to 17 cities and towns in our home state," said Paul Gaynor, CEO of First Wind. "The Hancock Wind project will deliver affordable, pollution-free electricity to customers in these communities. Finalizing this agreement is a major step forward for this project. We look forward to moving toward construction on this project and making a major economic investment in Down East Maine."
When built, the Hancock Wind project will feature 17 turbines with a capacity of 3 MW each and be situated near the operating 34 MW Bull Hill Wind project in Hancock County, ME, which began operations in November 2012. The energy from the Hancock Wind project is being sold to MMWEC at a cost-competitive price that will help to stabilize the utilities’ rates over the 25 years of the contract.
First Wind currently operates five wind projects in Maine and one in Sheffield, VT. Combined, the six projects generate enough electricity to power about 100,000 homes. In addition, First Wind is currently building four solar projects in Massachusetts, which will be in operation in 2014.
About First Wind
First Wind develops, finances, builds and operates utility-scale renewable energy projects throughout the United States. Based in Boston, First Wind currently operates wind power facilities in the Northeast, the West and Hawaii, with combined capacity of more than 1,000 megawatts (MW) – enough to power about 300,000 U.S. homes each year. For more information on First Wind, please visit www.firstwind.com or follow us on Twitter @FirstWind.
About Massachusetts Municipal Wholesale Electric Company (MMWEC)
MMWEC is a non-profit, public corporation and political subdivision of the Commonwealth of Massachusetts that provides a variety of power supply, financial, risk management and other services to the state’s consumer-owned, municipal utilities.