Friday, February 28 2014
Updated: Friday, February 28 2014
The contracts are between four Massachusetts electric distribution companies - Unitil, NSTAR Electric, National Grid and Western Massachusetts Electric Company - and developers Iberdrola Renewables and First Wind.
Selected for PPAs were Iberdrola’s 75.9MW Wild Meadows project in New Hampshire, and the 147MW Oakfield and 186MW Bingham projects in Maine being developed by First Wind subsidiaries Evergreen Wind II and Blue Sky West, respectively.
The weighted average price for electricity is less than eight cents per kWh. Massachusetts ratepayers will save $853m over the contract terms, according to Energy and Environmental Affairs Secretary Rick Sullivan.
The contracts represent 2.5% of each of the utilities’ total electricity sales. They are expected to enhance reliability, ensure price stability, and help grow the clean energy sector.
The projects are located in New Hampshire and Maine, and will provide power for more than 122,000 homes.
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