Maine sets date for bid review
Regulators to deliberate UMaine’s proposed term sheet for 12MW demo
The Maine Public Utilities Commission will consider a long-term energy contract for the University of Maine’s 12MW Aqua Ventus 1 offshore wind project next week.
Regulators will deliberate a proposed term sheet on 14 January. The proponent plans to sell an estimated 43,000MWh/year to the grid at a price of 23 cents/kWh, as reported by reNews. The price shall increase 2.25% annually for 20 years.
A power purchase agreement is the next step in securing a US Department of Energy grant. The two-turbine floating pilot project is competing with five other offshore wind proposals for three awards of $47m. Norwegian energy giant Statoil cancelled its 12MW Hywind Maine floating offshore wind scheme in 2013.
Aqua Ventus 1 partners UMaine, Cianbro and Emera estimate the project’s capital cost at $120m to $166.7m, at least 50% of which will be spent in Maine.
Image: The 1:8 scale VolturnUS prototype was towed to a site off the coast of Castine (UMaine)