Maine Public Utilities Commission (PUC) is to vote today on giving the approval for a long-term power purchase contract to developers of the proposed Maine Aqua Ventus I deepwater offshore wind project, led by the University of Maine.
The state’s PUC informed on its official website that the meeting is set to take place at 10:00 AM.
If approved, the contract will provide Aqua Ventus I developers with electric ratepayer support, and will also enable the project to compete for the U.S. Department of Energy’s USD 47 million grant, Bangor Daily News writes.
In order to get the approval, Maine Aqua Ventus I GP, LLC released a draft Term Sheet in December, which outlines the conditions under which Maine Aqua Ventus I will sell an estimated 43,000 megawatt hours per year to the grid from its two, 6MW turbines at a price of 23 cents per kilowatt hour.
Jeff Thaler, assistant counsel to the University of Maine, expressed his optimism about PUC’s approval, as the public has shown its support for this project and renewable energy in general.
“Overall, we think that people are much more aware of the risk of not doing anything and we have to take action,” the Associated Press quotes Mr. Thaler as saying.
Offshore WIND Staff, January 14, 2014; Image: maineaquaventus