First Wind has confirmed Idaho Public Utilities Commission’s approval of Energy Sale Agreements involving five proposed First Wind solar projects and the Idaho Power Company.
The five 20 MW solar farms will be spread across southern Idaho; in Ada, Elmore, Owyhee and Power counties.
“These five projects will deliver clean, renewable solar energy to homes and businesses in Idaho at a cost-competitive price,” said Paul Gaynor, CEO of First Wind.
“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.”
The Energy Sale Agreements each have a duration 20 years.
All projects have a completion target of the end of 2016. Combined, the solar farms are expected to generate approximately 250,000 MW hours of clean electricity annually; enough to power the equivalent of nearly 30,000 households.
Elsewhere in Idaho, First Wind operates the 45 MW Power County Wind project on behalf of a third-party owner.
First Wind states it operates or is building renewable energy projects with a combined capacity of nearly 1,300 megawatts – enough to power more than 375,000 homes. Currently it has 1025 megawatts of capacity in place.
In terms of solar, First Wind currently operates four solar projects in Massachusetts and has additional power stations in development in Hawaii and Utah. Its Warren Solar project in Massachusetts, which became operational in May last year, is 14MW capacity and features 57,000 Yingli Solar panels.
First Wind says its projects currently under construction or contracted for delivery represent a USD $1+ billion investment, including wages and contracts for hundreds of workers and dozens of companies.
In November last year, SunEdison, Inc. (NYSE: SUNE), and TerraForm Power, Inc. (Nasdaq: TERP), announced the signing of a definitive agreement to acquire First Wind. The transaction is expected to be completed during the first quarter of this year, subject to various conditions and regulatory approvals.
Headquartered in Massachusetts, First Wind received the “Employer of the Year” award from the New England Clean Energy Council (NECEC) for 2014. The company is also very active in the community, sponsoring a number of projects; including the provision of 77 scholarships to date worth over $300,000 to young people across the USA as part of its First Wind Scholars program.
