The board of directors of the Chugach Electric Association has voted to approve a set of terms and conditions for a proposed wind project on Fire Island, Alaska.
Chugach will purchase the power from the wind farm, which will be built by Fire Island Wind LLC, a wholly owned subsidiary of Cook Inlet Region Inc. (CIRI).
The project will consist of 11 GE 1.6 xle wind turbines. The proposed deal calls for Chugach to take up to 17.6 MW of power at a flat net price of $97/MWh for 25 years, beginning Jan. 1, 2013.
The term sheet approved by the board was the conclusion of negotiations between Chugach and CIRI that began in summer 2010. Initially, CIRI planned a 52.8 MW wind farm, but the project was eventually downsized to provide energy solely for Chugach's retail customers.