First Wind and the Massachusetts Municipal Wholesale Electric Co. (MMWEC) have announced an agreement that will bring clean energy from the developer'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% of the power and capacity generated at the 51 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. Under a deal announced earlier this month, Vermont-based Burlington Electric Department is purchasing the remaining energy from the Hancock 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," says Ronald C. DeCurzio, CEO of 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."
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, Maine, which began operations in November 2012.
"Finalizing this agreement is a major step forward for this project," notes Paul Gaynor, CEO of First Wind. "We look forward to moving toward construction on this project and making a major economic investment in Down East Maine."