Maine Public Utilities Commission (MPUC) has approved a long-term contract with Verso Bucksport for an energy supply package composed of capacity and renewable energy credits (RECs).
The energy supply contract will help with Verso's planned facility conversion from fossil fuel to biomass.
MPUC chair Jack Cashman said the project adheres to the state's policy of reducing greenhouse gas emissions. Estimates indicate a 155,000 metric ton reduction in carbon per year by displacing fossil fuel with biomass.
The five-year contract will be extended for another five years, subject to approval.