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Burlington Electric Department (BED) announced that the City Council has approved a contract to purchase 9 MW of power from a new wind project planned for Manchester, Vermont. Under the contract with Equinox Wind Partners, a joint venture of Endless Energy and Catamount Energy, the project output will be divided into the electric energy generated and renewable energy certificates (RECs) representing the environmental attributes of the wind energy. BED will purchase 100% of the electrical energy produced by the project, while ownership of the RECs will be divided between the utility (75%) and the developer (25%). Both the arrangement allowing the developer to reserve a share of the RECs and BED's intent to sell a large portion of its RECs will help reduce the cost of the wind energy.
Earlier this year, BED committed to purchase power from renewable energy projects "whenever prudently possible" when it sold its interest in Vermont Yankee, a nuclear facility that generated between 40% and 45% of the utility's total power supply. The wind purchase will represent about 7% of BED's power supply.
News Release - City Council Approves Wind Project
BED Contact: Mary Sullivan (802) 865-7417
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