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First Wind Initiates First Renewable Energy Projects in its Home State
Green Technology Featured Articles
October 02, 2013

First Wind Initiates First Renewable Energy Projects in its Home State

By Jyothi Shanbhag
TMCnet Contributor

First Wind, a U.S.-based renewable energy company, has stated that it currently working on its first solar projects in the Massachusetts communities of Warren and Millbury. This project will give a major boost to the Massachusetts economy, with 3 MW (AC) project in Millbury and a 14 MW (AC) project at three sites in the town of Warren.


The combined projects is expected to add more than 85 activities construction-related jobs and will also represent a important investment in Massachusetts and the communities, along with millions of dollars in construction, materials and development costs.

This major renewable energy project has even won the financing and settled a long-term power purchase agreement (PPA) with the University of Massachusetts (UMass). UMass has agreed to purchase most of the energy from the projects in Warren and Millbur.

“It is exciting that we are able to develop and build our very first solar projects in our home state of Massachusetts,” said Paul Gaynor, CEO of First Wind. “Massachusetts has led the way on renewable energy issues, and we are excited that we are able to add some clean energy projects right here in the Commonwealth, which will further enhance our growing portfolio of projects and customers in the Northeast. We are also very pleased to partner with UMass to deliver clean, renewable solar power to their campuses while delivering genuine economic benefits to the host communities and cost-competitive clean, renewable energy for years to come.”

Along with UMass, the towns of Millbury and Orange (News - Alert) have decided to purchase a smaller portion of the energy generated by the projects. Orange will realize more than $85,000-a-year in electricity savings, while Millbury will see annual savings of $110,000. In addition, the KeyBank National Association has agreed to offer a construction and term facility loan for the project and U.S. Bank provided the tax equity.

“First Wind has a proven track record in their ability to execute strong and viable renewable energy projects,” said Andrew Redinger, managing director and head of KeyBanc Capital Markets Utilities, Power and Renewables Group. “We are pleased to provide the financing for their first solar energy projects.”




Edited by Ryan Sartor


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