First Wind Secures Energy Sales Agreements with Idaho Power Company
Agreements for five new solar projects will total 100 MW
Boston, MA and Boise, ID – January 5, 2015 – First Wind, a leading renewable energy company, today confirmed that the Idaho Public Utilities Commission has approved Energy Sale Agreements with five proposed First Wind solar projects and the Idaho Power Company. The contracts are for 20 years and for projects that total 100 megawatts (MW). The five 20 MW projects are spread across southern Idaho where they will provide energy and economic diversity to Ada, Elmore, Owyhee and Power counties.
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"We're excited to announce these agreements for new solar energy in Idaho," said Paul Gaynor, CEO of First Wind. "These five projects will deliver clean, renewable solar energy to homes and businesses in Idaho at a cost-competitive price. The new long-term contracts with Idaho Power Company will enable us to move forward quickly and create a source of major economic activity for Idaho through good construction jobs and significant local tax revenues."
Each project is targeted to be completed by the end of 2016. Taken together, close to $10 million in direct property taxes will be generated by the projects over 20 years. The five projects combined are expected to generate approximately 250,000 MW hours annually – enough to power the equivalent of nearly 30,000 homes.
First Wind currently operates four solar projects in Massachusetts, and has additional solar projects in development in Hawaii and Utah. In Idaho, First Wind operates the 45 MW Power County Wind project on behalf of a third-party owner.
About First Wind
First Wind, which recently entered into an agreement to be acquired by SunEdison and TerraForm Power, is a leading renewable energy company exclusively focused on the development, financing, construction, ownership and operation of utility-scale renewable energy projects in the United States. Based in Boston, First Wind is operating or building renewable energy projects across the country, with combined capacity of nearly 1,300 megawatts (MW) – enough to power more than 375,000 homes each year. For more information on First Wind, please visit www.firstwind.com or follow us on Twitter @FirstWind.
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