|By Business Wire||
|March 4, 2014 03:16 PM EST||
First Wind, an independent U.S.-based renewable energy company, announced today that it has made the first payment to the town of Oakfield in the amount of $600,000 as part of the community benefit agreement. Situated about 2.5 miles from the center of Oakfield in Aroostook County, Maine, early construction on the 148 megawatt (MW) project began in late 2013. The Oakfield project will provide $12 million in community benefit payments over the next 20 years. In addition to the community benefit payments, First Wind is also scheduled to make about $15 million in tax payments over the next 20 years.
“We are pleased to make this initial payment and we are looking forward to helping support and contribute to the business community in Oakfield and surrounding areas,” said Paul Gaynor, CEO of First Wind. “This is going to make a real difference for the residents in the town of Oakfield. First Wind is committed to building partnerships in our project communities, and we’ve had a great experience working with the town of Oakfield. It is exciting to see the early construction progress at Oakfield and we are looking forward to seeing the activity increase in the coming months.”
Throughout the development and planning phases, First Wind has worked very closely with the town and its Windpower Review Committee to solicit significant community input in designing the project and establishing a community benefit partnership. As part of the local review process, First Wind made a number of commitments to the town and incorporated those commitments into its original Maine Department of Environmental Protection (DEP) application.
Ninety percent of the funds from this first payment from First Wind to the town will be used for tax relief for town residents. The town has other plans for future uses of funds.
“We are thrilled to receive this first payment from First Wind and we are looking forward to directing it to priority areas that can best benefit Oakfield and its residents,” said Dale Morris, Town Manager of Oakfield. “From the beginning, we’ve wanted to ensure that Oakfield residents see the real benefits of this project. With the tax relief we’re providing, homeowners in town are feeling the benefits in a real way. First Wind has been good to work with, keeping Oakfield involved in the development process and being receptive to local input. We are eager to continue this collaboration and are looking forward to the future of this project.”
First proposed in 2008, the Oakfield Wind project received unanimous approval from the Maine DEP in January of 2012. In 2011, town of Oakfield residents voted 81-21 to approve the tax and community benefit agreement. The power that will be generated by the Oakfield Wind project is contracted to be sold to Massachusetts customers of four utilities as part of a 15-year contract, and will generate enough clean energy at cost-competitive rates to power about 50,000 homes.
Major construction of the project is expected to start later this year, with a completion and generation date predicted for 2015. Vestas will supply the 48 V112 turbines with a capacity of 3.075 MW each to the Maine project.
Other communities along the planned power line or “generator lead”, which will connect the wind project to the New England electrical grid, will also receive tax revenues from the project.
First Wind has invested $600 million in wind projects in Maine. The company currently has five operational wind projects in Maine including the 42 MW Mars Hill Wind project in Aroostook County, the 83 MW Stetson Wind I and II projects in Washington County, the 60 MW Rollins Wind project in Penobscot County, and the 34 MW Bull Hill Wind project in Hancock County. These facilities have the capacity to generate 219 MW, enough to supply clean power for the equivalent of more than 95,000 households.
About First Wind
First Wind develops, finances, builds, and operates utility-scale renewable energy projects throughout the United States. Based in Boston, First Wind currently operates wind power facilities in the Northeast, the West and Hawaii, with combined capacity of more than 1,000 megawatts (MW) – enough to power about 300,000 U.S. homes each year. For more information on First Wind, please visit www.firstwind.com or follow us on Twitter @FirstWind.