Maine Tranche 2 RFP Term Sheets Approved

Power Advisory LLC continues to closely track the Northeast electricity markets and support the development of clean energy projects. Find a summary of the latest news from the Maine Public Utilities Commission below, with the approval of term sheets from the 2021 Maine Tranche 2 RFP for renewables this morning.

June 29, 2021 - Today the Maine PUC deliberated on the 2021 Maine Tranche 2 RFP for renewable energy with consideration of an order approving term sheets. The selected projects consist of 289.5 MW / 524,844 MWh from 6 new solar resources, with first year energy prices ranging from $28.50 to $39.50/MWh, and 1 existing wind project. The three commissioners were in agreement on these Tranche 2 selections.

All 7 contracts are energy-only. As with the Maine Tranche 1 awards, economic development benefit obligations are incorporated into the PPAs with annual reporting, PUC verification and potential clawback up to 30%.

New Solar:

• Glenvale Solar - Warren Project (74.5 MW) [$32.00/MWh, 2.5% escalator]
• Glenvale Solar - Turner Project (10 MW) [$38.50/MWh, 2.5% escalator]
• Swift Current - Greene Apple (120 MW) [$29.89/MWh, 3% escalator]
• C2 Energy Capital - Parkman Project (14 MW) [$39.50/MWh, 2% escalator]
• Walden Renewables - Goose Cove (40 MW) [$28.50/MWh, 2.5% escalator]
• Walden Renewables - Oyster River (31 MW) [$32/MWh, 2.5% escalator]

Existing Wind:

• Helix Maine - Kibby Wind (132 MW) [50% of output at a fixed price of $36.50/MWh]

Power Advisory welcomes the opportunity to discuss these results as well as clean energy development opportunities in New England and broader Northeast markets. ‍