The Vermont Public Service Board (PSB) has approved new wind power contracts for Vermont's two largest utilities – Central Vermont Public Service (CVPS) and Green Mountain Power (GMP).
The PSB approved contracts between the utilities and Granite Reliable Wind, a 99 MW project in Coos County, N.H. The project will include 33 3 MW wind turbines.
CVPS will purchase 30.3% of the output, and GMP will purchase 25% of the output of the Granite Reliable Wind project for 20 years, starting April 1, 2012. The project is expected to fulfill about 4% of each utility's annual energy needs.
‘We believe these contracts will provide an excellent blend of environmental benefits and relatively low-cost renewable energy,’ CVPS President Bob Young and GMP President Mary Powell said in a joint statement. ‘These contracts are in keeping with our historic commitment to green energy, and they extend our portfolios of renewables.’
The contracts resulted from a request for proposals (RFP). The companies also made smaller purchases as a result of the RFP, but only the Granite Reliable project required PSB review.
The PSB sealed documents that disclose the price of the contracts to protect the utilities' bargaining position in ongoing negotiations with other power producers. The utilities have signed a preliminary agreement for a new contract with Hydro-Quebec but continue to seek other power contracts.
The utilities said that among the factors that they considered in choosing the Granite Reliable purchase are price, price volatility, fuel diversity, environmental attributes, public preferences voiced during the state's public outreach process and reliability.
SOURCE: Green Mountain Power