"We are tremendously pleased that we have been able to make this renewable energy project even more affordable for our customers and VEC members," said Mary Powell, president and chief executive officer of Green Mountain Power. "With energy costs increasing, we are committed to ensuring that this wind power project provides stable and cost-effective power to Vermonters. The increased production of the Vestas V112 3.0 wind turbines also means a larger education tax fund payment, as well as higher payments to the Good Neighbor Fund."
The wind turbine choice was identified in a filing Green Mountain Power made today with the Vermont Public Service Board of several of the documents required before construction of the wind farm can begin. As anticipated, the Public Service Board order included a number of conditions that must be met, including final selection of the wind turbines and the site plan among them.
As a result of the increased efficiency of the V112 3.0 wind turbines, the wind power project’s levelized energy costs will decrease from a projected 10.3 cents per kWh, an attractive price for a renewable project, to a projected 9.2 cents per kWh, well below the price for similar renewable projects.
The renewable energy project will generate enough electricity for 24,000 homes, and is expected to provide eight percent of all the electricity GMP customers use and four percent of the electricity VEC members use.
"Choosing the Vestas turbine is a major step in our ability to provide cost-effective power for decades to come and bring significant economic benefits to the Northeast Kingdom," said Ms. Powell.
Kingdom Community Wind (KCW) is a 63 MW utility-owned wind energy project to be built in Lowell, Vermont. The Vermont Public Service Board recently granted a certificate of public good to Green Mountain Power, paving the way for construction to begin in August. The energy generated at KCW will supply Green Mountain Power customers and Vermont Electric Coop. members with the lowest cost premium renewable energy available to both utilities. In addition to providing clean, local and stably-priced power to Vermonters, KCW will help the State meet its aggressive renewable energy goals.
Vestas is more than a century old. Founded in 1898 in Denmark, the company began developing wind turbines in the 1970s in response to the oil crisis. Vestas Americas is headquartered in Portland, Oregon and produces towers, nacelles and blade in Colorado. Other Vestas turbines in the northeast include those installed at Kibby Mountain in Maine, which utilizes the Vestas V90 3.0, and the Granite Reliable project in New Hampshire, which is under construction.
Green Mountain Power generates, transmits, distributes and sells electricity in the State of Vermont. It serves more than 175,000 people and businesses.