Boston Business Journal // Sept 26, 2013
This week Boston-based wind company First Wind announced a deal with National Grid, Northeast Utilities, and Unitil. In a deal with “plenty of winners,” the three utilities entered into 15-year contracts to supply 565 megawatts of wind power from First Wind and two other developers at an average price below that of many other sources: 8 cents per kilowatt-hour. These pacts will help finance two of the Northeast’s largest wind farms in Maine, and, as Boston Business Journals points out, lenders like to see long-term contracts. “There are not a lot of projects getting done in the wind market these days without a long-term contract,” First Wind CEO Paul Gaynor says.
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