Under the 15 year agreements, First Wind will sell electricity generated from its 147MW Oakfield Wind project in Aroostook county, which received siting approval from the Maine Department of Environmental Protection (DEP) in January 2012, and the 186MW Bingham Wind project in Somerset county, which is in the advanced permitting stages with the DEP.
First Wind CEO Paul Gaynor said that the company is pleased that its proposed Oakfield and Bingham wind projects were selected as part of the competitively-bid process.
"This is a direct outcome of last year’s energy bill that is helping to bring clean, renewable energy to Massachusetts consumers more cost-effectively," Gaynor added.
"A key component of the Green Communities Act is that it enables utilities to establish a competitive process for best possible pricing and then enter into long-term contracts to lock in low rates with renewable energy projects for the long run."
The company expects both projects will qualify for federal investment tax credits.
"This is an important milestone for both of these projects, and we look forward to building on our track record of developing, building and operating wind projects that deliver cost-competitive, clean energy," Gaynor further added.
