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July 23, 2014

First Wind-Emera’s $333M venture OK’d by PUC

A proposed $333 million wind energy partnership between Emera Maine’s parent company and Boston-based First Wind has been approved by Maine energy regulators.

The Bangor Daily News reported that the Maine Public Utilities Commission approved the joint venture in a 2-1 vote after it was sent back for further review by a Maine court.

The long-sought joint venture will involve Northeast Wind, a subsidiary of Emera Maine’s parent company, investing $333 in the partnership, giving it 49% ownership in JV Holdco, which holds ownership of various First Wind projects. The investment will give a boost to First Wind projects in Oakfield, Hancock and Bingham.

Read more

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