First Wind secures regulatory approval to sell power to Idaho Power Company

5 January 2015 (Last Updated January 5th, 2015 18:30)

Renewable energy firm First Wind announced the Idaho Public Utilities Commission has given approval to sell power from its five proposed solar projects in Idaho, the US.

Renewable energy firm First Wind announced the Idaho Public Utilities Commission has given approval to sell power from its five proposed solar projects in Idaho, the US.

First Wind, which is being acquired by SunEdison, will sell power to the Idaho Power Company under 20-year contracts.

The five 20MW projects solar projects are spread across southern Idah, Elmore, and Owyhee, as well as power counties.

First Wind CEO Payl Gaynor said: "We’re excited to announce these agreements for new solar energy in Idaho.

"These five projects will deliver clean, renewable solar energy to homes and businesses in Idaho at a cost-competitive price."

"These five projects will deliver clean, renewable solar energy to homes and businesses in Idaho at a cost-competitive price.

"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."

Each of these solar farms is expected to be completed by the end of 2016.

Over the two-decade period, the projects taken together are expected to generate approximately $10m in direct property taxes.

The five projects will produce approximately 250,000MW hours of power annually. This can cater to the requirements of almost 30,000 homes.

Currently, First Wind operates four solar projects in Massachusetts. It also has solar projects under development in Hawaii and Utah.

The firm also operates the 45MW Power County Wind project in the state of Idaho, on behalf of a third party owner.
Recently, First Wind inked an agreement to be bought by SunEdison and TerraForm Power, which focuses on the development, financing, construction, ownership, and operation of utility-scale renewable energy projects in the US.

This transaction is expected to close in the first quarter of 2015, following regulatory approvals.

First Wind is headquartered in Boston. The firm is currently either operating or building renewable energy projects, totalling almost 1,300MW.