First Wind, an independent U.S.-based renewable energy company, has made the first payment to the town of Oakfield in the amount of $600,000 as part of the community benefit agreement from its Oakfield project.
The 148 megawatt Oakfield project will provide $12 million in community benefit payments over the next 20 years. In addition to the community benefit payments, First Wind is also scheduled to make about $15 million in tax payments over the next 20 years.
The project is situated about 2.5 miles from the center of Oakfield in Aroostook County, Maine. Early construction on the 148 megawatt (MW) project began in late 2013.
First proposed in 2008, the Oakfield Wind project received unanimous approval from the Maine DEP in January of 2012. In 2011, town of Oakfield residents voted 81-21 to approve the tax and community benefit agreement.
The power that will be generated by the Oakfield Wind project is contracted to be sold to Massachusetts customers of four utilities as part of a 15-year contract, and will generate enough clean energy at cost-competitive rates to power about 50,000 homes, the company said.
“We are pleased to make this initial payment and we are looking forward to helping support and contribute to the business community in Oakfield and surrounding areas,” said Paul Gaynor, CEO of First Wind. “This is going to make a real difference for the residents in the town of Oakfield.”
Throughout the development and planning phases, First Wind has worked very closely with the town and its Windpower Review Committee to solicit significant community input in designing the project and establishing a community benefit partnership.
Ninety percent of the funds from this first payment from First Wind to the town will be used for tax relief for town residents. The town has other plans for future uses of funds.
Dale Morris, town manager of Oakfield, said, “From the beginning, we’ve wanted to ensure that Oakfield residents see the real benefits of this project. With the tax relief we’re providing, homeowners in town are feeling the benefits in a real way.”
“First Wind has been good to work with, keeping Oakfield involved in the development process and being receptive to local input,” Morris added. “We are eager to continue this collaboration and are looking forward to the future of this project.”
Major construction of the project is expected to start later this year, with a completion and generation date predicted for 2015. Vestas will supply the 48 V112 turbines with a capacity of 3.075 MW each to the Maine project.