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SunEdison abandons talks for 73-MW wind PPA in Maine - report

Author: .Martin. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

May 5 (SeeNews) - US company SunEdison Inc (NYSE:SUNE) will be looking for new buyers for the output of a planned 73-MW wind farm in the state of Maine after regulators decided to rethink the terms of a 25-year PPA for the project.

On Monday, the renewables major withdrew the Weaver Wind project from consideration, Bangor Daily News reported. The move followed the Maine Public Utilities Commission decision from February to reconsider the terms for two already approved wind PPAs (power purchase agreements).

The deal for Weaver Wind was for a price of USD 0.053 (EUR 0.048) per kWh for 25 years with an annual escalation. The other PPA under review is for NextEra Energy’s 44-MW Highland Wind project. The re-evaluation was proposed due to changes in the power market.

John Lamontagne, a spokesman for SunEdison, told Bangor Daily News that the company is not dropping the 73-MW project in Hancock County. It will just look for another power purchaser.

SunEdison acquired the project when it bought US company First Wind Holdings LLC in January.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

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