MPUC Approves Term Sheet for Three Rivers Solar Power, LLC’s 100 MW Solar Project

Verrill
Contact

February 26, 2019, the Maine Public Utilities Commission approvedterm sheet for a long-term contact for Three Rivers Solar Power, LLC’s 100 MW solar project. The Three Rivers Solar project will be located in Hancock County, Maine. It is a ground-mounted solar photovoltaic project, with an expected commercial operations date of no later than December 31, 2021. The term sheet provides the term of the long-term contract to be executed between Three Rivers and Emera Maine. The contract will be a ten-year energy only contract, with a price of $35/MWh in the first year of the contract. The price escalated 2.5% annually after the first year.

The Commission concluded that the project presents “a sufficient likelihood of providing ratepayer benefits over the term of the agreement to outweigh the risk inherent in long-term contracting” and that it satisfied the policy goals of 35-A M.R.S. § 3210-C(2). The Commission declined to move forward with six other long-term contract proposals.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Verrill | Attorney Advertising

Written by:

Verrill
Contact
more
less

Verrill on:

Reporters on Deadline

Related Case Law

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.