Green Mountain Power (GMP) has reached an agreement with Enel Green Power North America (EGP-NA) to purchase 14 small hydro facilities with total capacity of 17 MW. In addition, GMP has reached two long-term power purchase agreements with EGP-NA for electricity from Sheldon, Vt., and in Ticonderoga, N.Y.
“This is a great deal for our customers and for our overall commitment to provide the cleanest, most cost-effective and reliable power we can as we’re empowering customers to take control of their energy use,” said Mary Powell, president and chief executive officer of GMP. “To become more energy independent as we transform the future of energy to more local generation, we appreciate the value of adding more of a resource long valued as a foundation of energy generation in Vermont – local power from our rivers.”
GMP expects to sell a limited number of renewable energy credits from some of the plants to reduce costs for customers in the short term, according to a press release.
The agreement is subject to state and federal regulatory approval and is expected to be completed in 2017.
GMP owns 32 hydro plants in Vermont, including 22.807-MW Otter Creek. The names of the specific plants involved in this purchase were not included in the press release.