Maine PUC picks two renewable energy projects for development
The Maine Public Utilities Commission (PUC) selected two projects to promote renewable energy development in northern Maine.
One calls for the construction of a 345 kilovolt (kV) transmission line to connect renewable energy resources located in northern Maine with the New England grid. The other is a renewable energy generation project to transmit power across that transmission line.
“We were very pleased with the number and creativity of the proposals we received in this complex bidding process,” Maine PUC Chair Philip Bartlett II said. These projects will provide significant benefits to Maine and the region, including jobs during construction, property tax revenue for local communities, and environmental benefits from new renewable energy displacing fossil fuels. The influx of renewable energy into the regional grid will also place downward pressure on electricity prices, benefitting consumers in Maine and throughout New England. Importantly, these benefits will accrue to Maine whether we pay for this line or someone else does.”
LS Power Base will develop the transmission project at a cost of $2.88 billion. Also, Longroad Energy’s King Pine 1,000 MW wind generation project was chosen, resulting in savings of $1.08 billion. The net cost of the two projects is a projected $1.8 billion over 30 years.
The commission directed its staff to look to other states to assess if there are partnerships that could reduce the costs for taxpayers. It is seeking a staff report on the matter by Jan. 15, 2023.
The winning projects were evaluated based on several factors, including total cost, value to Maine ratepayers, economic benefits to northern Maine, project viability, technical and financial qualifications of bidders, and land use issues.
The commission conducted the bidding process in accordance with The Northern Maine Renewable Energy Development Program.
