Green Development LLC, a renewable energy solutions provider in Rhode Island, has announced a wind power net-metering credit agreement with the Rhode Island Convention Center Authority (RICCA).
The entertainment complex will purchase, at a discounted rate, the electricity credits produced by one of Green Development’s seven wind turbines located in Johnston, R.I., scheduled to become operational by the end of the year.
Under the 25-year agreement, RICCA will purchase up to 8.3 million kWh per year of wind energy credits. That is enough clean energy to supply 1,150 Rhode Island homes, according to the partners. Furthermore, the agreement will result in well over $350,000 in savings in the first year, and if rates rise as expected, the savings will grow, the partners say. This could provide more than $10 million in savings for RICCA over the duration of the agreement.
“Furthering our goal to provide Rhode Islanders with innovative renewable energy solutions, we are proud to partner with an iconic Rhode Island institution like the RICCA,” comments Al Bucknam, CEO of Green Development. “All of the power will be emission-free wind power – contributing to greening the regional electric grid; creating a healthier, more sustainable Rhode Island; and moving one step closer to the state’s goal of reaching 1,000 MW of clean energy by 2020.”
Green Development is currently constructing seven 3 MW wind turbines in Johnston. Each turbine was procured from manufacturer VENSYS.
