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First Wind picks up long-term contracts with utilities

Posted by Industry News on Sep 26, 2013

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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Topics: AEE In The News