Cohocton Wind Watch: Maine approves long-term deal with First Wind
Cohocton Wind Watch is a community citizen organization dedicated to preserve the public safety, property values, economic viability, environmental integrity and quality of life in Cohocton, NY and in surrounding townships. Neighbors committed to public service in order to achieve a reasonable vision for a Finger Lakes region worthy of future generations.


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Thursday, October 08, 2009

Maine approves long-term deal with First Wind

Maine's utility commission today approved a 20-year electricity supply contract with First Wind, the first long-term contract the state has committed to since it deregulated the electricity industry in 2000.

The Maine Public Utilities Commission has reached a deal with First Wind Holdings LLC, a subsidiary of Evergreen Wind Power III LLC, for electricity generated at the company's $130 million, 60-megawatt Rollins Mountain wind farm in Penobscot County, according to a press release from the PUC. No dollar figure can be attached to the contract until it is signed, which is expected to occur next week, Evelyn deFrees, a PUC spokesperson, told Mainebiz.

According to the contract, Central Maine Power Co. will receive 80% of the electricity and Bangor Hydro Electric will receive 20%. The deal will lower energy costs for consumers, increase renewable energy capacity and offset new transmission costs, according to the release. "The First Wind contract makes it possible for Maine ratepayers to gain energy supply cost benefits from a renewable energy resource, and the company gets the financial assurance the contract provides to become fully operational," said PUC Chair Sharon Reishus in the release. In a separate release, First Wind said the agreement "will provide protection against the fluctuating prices of power produced by fossil fuels."

This is the state's first long-term supply contract since deregulation in 2000, and since the Legislature gave approval to the PUC in 2006 to develop long-term energy contracts. The PUC issued a request for proposals for contracts in December 2008 and received the first proposals in April 2009, according to the release. The commission is still considering other proposals it has received, deFrees said.

Massachusetts-based First Wind operates wind farms in northern and Down East Maine under various Evergreen subsidiaries, and earlier this year received approval from the Department of Environmental Protection to build the Rollins Mountain wind farm, which is planned for ridgelines in Burlington, Lee, Lincoln and Winn. Construction is expected to start by the fall of 2010, and the farm will produce enough electricity to power about 23,000 homes, according to First Wind.

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First Wind Holdings Inc. IPO public offering


TEN Reasons
Why the SEC should not allow First Wind to be listed on NASDAQ

First Wind Holdings Inc. 12/22/09 SEC S1/A IPO Filing

First Wind Holdings Inc. 7/31/08 SEC S1 IPO Filing

May 14, 2010 addition to the First Wind Holdings Inc. SEC S1A IPO Filing

August 18, 2010 amendment 7 to the First Wind Holdings Inc. SEC S1A IPO Filing

October 13, 2010 Filing update to the First Wind Holdings Inc. SEC S1A IPO Filing

New October 25, 2010 Filing update to the First Wind Holdings Inc. SEC S1A IPO Filing


FIRST WIND Lays an Egg WITHDRAWS IPO
after Wall Street no confidence in company




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