Central Maine Power Signs Agreement with Maine Aqua Ventus
CMP to purchase renewable wind power from offshore project
AUGUSTA, Maine — December 20, 2019 — Central Maine Power (CMP) signed a Power Purchase Agreement (PPA) with Maine Aqua Ventus to purchase power from the deep water floating wind turbine project to the New England grid.
The 20-year agreement ensures that the clean, renewable power produced by Maine’s innovative wind energy project will be delivered to market. The 20-year agreement goes into effect upon the commencement of commercial operations.
“We have an urgent need for clean, renewable energy in Maine and across New England to diminish reliance on traditional fossil fuels and to meet ambitious clean energy goals,” said Doug Herling, president and CEO of CMP. “All renewable projects, large and small, can contribute to the mix of clean energy, and CMP, as directed by the Commission, is pleased to purchase power from the Maine Aqua Ventus demonstration project and support our state’s innovative approach to offshore wind development.”
In 2010, the Maine Legislature enacted the Ocean Energy Act to promote the development of offshore and tidal generation projects through long-term contracts with Maine’s utilities. In 2019, the legislature enacted a resolve, signed by the Governor, requiring the Maine Public Utilities Commission to approve a long-term contract for deep water offshore wind energy.
About CMP: Central Maine Power Company (CMP), a subsidiary of AVANGRID, Inc., is Maine’s largest electricity transmission and distribution utility. Established in 1899 and based in Augusta, Maine, CMP serves approximately 624,000 customers across 346 communities in central and southern Maine. It operates approximately 23,500 miles of distribution lines and 2,900 miles of transmission lines. Over the last decade, the company has invested approximately $2.6 billion in Maine system infrastructure. In 2019, CMP was named Large Business of the Year by the Kennebec Valley United Way. For more information, visit www.cmpco.com.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading, sustainable energy company with approximately $34 billion in assets and operations in 24 U.S. states. AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving 3.3 million customers in New York and New England. Avangrid Renewables owns and operates 7.2 gigawatts of electricity capacity, primarily through wind power, with a presence in 22 states across the United States. AVANGRID employs approximately 6,500 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 by the Ethisphere Institute. For more information, visit www.avangrid.com.
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