Princeton, MA, June 26, 2003 — Community Energy, Inc. (CEI) announced a twenty-year agreement with Princeton Municipal Light Department to build and operate two 1.5 megawatt (MW) wind turbines at an existing wind energy site in Worcester County, MA.
Under this agreement, Community Energy will own and operate the wind turbines and sell all of the power produced to the Municipal Light Department to serve about 40% of the annual requirements of town residents. Under the terms of the power purchase agreement and land lease, the town will receive significant lease payments and stabilize a major portion of their power supply costs well into the future.
Community Energy will retain ninety percent of the new wind energy certificates produced by the project to support efforts to bring NewWind Energy(tm) to consumers in Massachusetts.
According to Eric Blank, Executive Vice President of CEI, “It is exciting and rewarding to work in a win-win manner with the Light Department and Princeton residents to bring the largest wind farm in Massachusetts into service. Based on our experience in the Mid-Atlantic, we expect this initial project to catalyze development of 150 MW of wind power in New England over the next two years.”
With this decision, CEI and Princeton will repower the first and oldest commercial wind farm in the East, built in 1984, with state-of-the-art wind turbine technology. The new wind turbines will produce forty (40) times the electricity of the aging, existing wind farm.
By displacing existing power plant operation, the windmills will avoid emissions each year of 11 million pounds of CO2 – the predominant greenhouse gas, almost 50,000 pounds of SO2 – the primary constituent of acid rain, and 14,000 pounds of NOx – a major contributor to smog formation. These reductions are the equivalent of taking 1,000 cars off the road each year.
Jonathan Fitch, Manager of the Princeton Municipal Light Department says “The new wind project will greatly expand Princeton’s commitment to clean renewable energy and illustrates the importance of community support for renewable energy.” Princeton residents supported the project by a three to one margin in a non-binding referendum held in February of this year.
The Massachusetts Renewable Energy Trust Fund played a critical role from the early stages of project development by providing CEI with a loan as part of its Green Power Predevelopment Financing Initiative. Blank says, “The MTC plays an essential role in making the state’s vision of building new, clean energy projects a reality.”
Founded in 1999, CEI is involved, independently or through partnerships, in more than 190 megawatts of wind energy development in the Mid-Atlantic, New England, and Midwest regions of the United States.
The company has pioneered the sale of wind energy credits to businesses, universities, municipalities, and aggregation groups and has successfully cultivated retail demand for wind energy in these regions. CEI is a marketer of wind-generated electricity, under the NewWind Energy(tm) brand. CEI customers include the largest retail purchasers of wind-generated electricity in the nation. More information is available at www.communityenergy.biz.