in News Departments > New & Noteworthy
print the content item

The Maine Public Utilities Commission (PUC) has again approved a $333 million joint venture between Boston-based First Wind and Nova Scotia-based Emera. In March, the Maine Supreme Judicial Court ruled against the PUC's initial approval of the deal and sent the matter back to the regulator for redetermination.

The two companies worked to establish the venture to jointly own and operate wind projects in the northeastern U.S., with First Wind owning 51% of the company and Emera owning the remaining 49%.

However, Emera is also the parent company of transmission and distribution (T&D) utilities Maine Public Service Co. and Bangor Hydro, and the Supreme Court argued that a state law restricts a company from owning both T&D and generation assets.

According to a Portland Press Herald report, PUC Chairman Thomas Welch said during the most recent deliberations that the regulator has worked to make sure that the joint venture and its parent companies will be separated and that the deal would not create an unfair advantage.

John Lamontagne, a spokesperson for First Wind, notes that although the PUC voted in favor of the joint venture, the developer is still waiting on a written order. “We've very encouraged by the vote and look forward to reviewing their final order. We appreciate their careful review and approval.”

“In a nutshell,” he continues, “what it means for us is that the joint venture with Emera will allow us to move ahead with more potential investment in renewable energy projects in Maine and the Northeast.”

IOWA Economic Development id2073

Trachte_id2056
Latest Top Stories

More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.


How Wind Energy Can Meet EPA Clean Power Plan Requirements

According to the American Wind Energy Association, wind power is a cost-effective solution for complying with the environmental effort.

Hybrid Energy Innovations 2015