US-based First Wind has broken ground of its 148MW Oakfield Wind project in Aroostook County, Maine.
It is the company’s largest wind project and the sixth in Oakfield, which will help the city draw close to $27m in tax and community benefit payments over the next 20 years.
As a part of the community benefit agreement, First Wind paid an amount of $600,000 as the first community payment earlier this year.
First Wind CEO Paul Gaynor said: "First Wind is excited to be building the Oakfield Wind project, which is not only our sixth project in Maine, but what will be our largest project to bring clean, cost-competitive renewable energy to New England.
"The Oakfield project has been something we’ve wanted to build for almost a decade, and we’re thrilled to say that it will be finished by the end of next year. We appreciate the long-term support from the community leaders and residents of Oakfield and Aroostook County, and we are looking forward to continuing our commitment to Maine’s clean energy economy."
The power to be generated from the project will be sold to four Massachusetts utilities as part of a 15-year contract.
It will help in generating enough clean energy to power the equivalent of about 50,000 New England homes.
Commenting on the project, Oakfield town manager Dale Morris said: "The Town of Oakfield has already experienced first-hand the economic benefits this project brings to Aroostook County.
"Nearly 90 percent of the funds from First Wind’s first community payment were used for tax relief for town residents, and the town will soon be investing property tax dollars into the community’s infrastructure – new road work, a new fire station and other capital improvements."
The project will be constructed on the low-lying ridges of the Oakfield Hills. Construction work will include the installation of 48 Vestas V-112 turbines and will create a total of 300 direct, full-time jobs during construction.
The total construction cost is $369m. This includes a $237m construction loan and $132m of equity contribution.
On completion, the project will increase the total capital expenditure made by First Wind for wind projects in Maine to over $1bn.
The project is expected to start operation by the end of 2015.
Image: First Wind broke ground on its Oakfield Wind project in Maine. Photo: courtesy of First Wind.