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Maine PUC Approves Term Sheet For Long-Term Contract
February 27,2019 The Maine PUC has approved a term sheet for a long-term contract for a generation project under development by Three Rivers Solar Power, LLC The Three Rivers Solar project is a ground-mounted solar photovoltaic project with a nameplate capacity of up to 100 MWAC. The project will be located in Hancock County, Maine, and has an expected commercial operation date of no later than December 31, 2021. The term sheet with Three Rivers Solar provides for an energy-only contract with a term of ten years at a price of $35/MWh in the first contract year, with a 2.5% annual escalation thereafter. "The Commission approves the attached term sheet for Three Rivers Solar because we find that the proposal satisfies the policy goals outlined in 35-A M.R.S. ยง 3210-C(2) -- that is, the project presents a sufficient likelihood of providing ratepayer benefits over the term of the agreement to outweigh the risk inherent in long-term contracting," the PUC said The PUC did not address cost recovery for the contract in its order. The PUC directed Commission Staff and Emera Maine to develop a final contract with Three Rivers Solar consistent with the approved Term Sheet Docket No. 2018-00137
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