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Wind Power Helps to Lower Electricity Prices

Wind power provides significant economic benefits, for industry and ratepayers alike. This issue brief from USCAP explains "price suppression" - or how wind power lowers wholesale market prices for

Monday, April 14, 2014

First Wind, an independent renewable energy company that operates four wind projects in Hawai‘i, and Hawaiian Electric Company today announced that a request has been filed with the Hawai‘i Public Utilities Commission to provide energy to the O‘ahu grid from a planned 20-megawatt (MW) (AC) solar photovoltaic energy facility near Mililani, O‘ahu under a 20-year power purchase agreement. The planned Mililani Solar project on O‘ahu will provide enough clean energy to power the equivalent of 6,000 O‘ahu homes and save consumers up to $67 million.

Tuesday, April 1, 2014

First Wind Capital, LLC (“First Wind” or the “Company”) announced today that it has received the requisite consents from the holders of a majority in principal outstanding amount of its 10.25% senior secured notes due 2018 (the “Notes”) as of 5:00 p.m., New York City time, on April 1, 2014, pursuant to the Company’s previously announced consent solicitation (the “Consent Solicitation”) dated March 26, 2014.

Tuesday, April 1, 2014

First Wind Capital, LLC (“First Wind Capital”) today announced that it has priced its private placement of $75 million of 10.25% senior secured notes due 2018 (the “Notes”) at a premium to par at an issue price of 105.00%. First Wind Capital previously issued $200 million of its 10.25% senior secured notes due 2018 on May 20, 2011, of which $155,750,000 are currently outstanding.

Tuesday, April 1, 2014

First Wind Capital, LLC (“First Wind Capital”) today announced its intention to launch a private placement of $75 million of 10.25% senior secured notes due 2018 (the “Notes”). First Wind Capital previously issued $200 million of its 10.25% senior secured notes due 2018 on May 20, 2011, of which $155,750,000 are currently outstanding.

Wednesday, March 26, 2014

First Wind Capital, LLC has commenced a consent solicitation to holders of record as of 5 p.m., New York City time, on March 25, 2014, of its 10.25% Senior Secured Notes due 2018.

Tuesday, March 4, 2014

First Wind has made the first payment to the town of Oakfield in the amount of $600,000 as part of the community benefit agreement. Situated about 2.5 miles from the center of Oakfield in Aroostook County, Maine, early construction on the 148 MW project began in late 2013. The Oakfield project will provide $12 million in community benefit payments over the next 20 years. In addition to the community benefit payments, First Wind is also scheduled to make about $15 million in tax payments over the next 20 years.

Tuesday, February 18, 2014

First Wind and a coalition of non-profit organizations representing the Appalachian Trail (A.T.) jointly announced an agreement to protect Appalachian National Scenic Trail (ANST) viewshed lands in Maine through creation of a dedicated $700,000 land conservation fund. The nationally recognized 2,180-plus-mile Appalachian Trail footpath stretches from Maine to Georgia. The Appalachian Trail Coalition groups, which include the Appalachian Mountain Club (AMC), Maine Appalachian Trail Club (MATC) and Appalachian Trail Conservancy (ATC), are dedicated to the protection and preservation of the ANST and user experience of the viewshed. First Wind develops, builds and operates renewable energy projects, including five operating wind farms in Maine as well as the proposed Bingham Wind project, a 62 turbine wind energy facility located in Bingham, Kingsbury Plantation, Mayfield Township, Parkman and Abbott, Maine.

Thursday, February 13, 2014

First Wind announced that the Kahuku Wind project on the North Shore of Oahu is back online at full capacity; the 30 MW project will again power the equivalent of 7,700 Oahu homes. Following a battery facility fire that suspended operations in August of 2012, First Wind worked with Hawaiian Electric Company (HECO) and other experts to bring the Kahuku project back to its full capacity. An updated Interconnection Requirements Study was conducted and determined that a new technology could replace the need for a battery system at the site. The new Dynamic Volt-Amp Reactive (DVAR) system is a cost-effective way to provide continuous voltage regulation.

Wednesday, February 12, 2014

First Wind announced that it has obtained $206 million in financing for its Route 66 Wind project in Armstrong and Carson Counties, Texas. With financing closed for its first project in Texas, engineering and construction activities will continue on the project.

Friday, February 7, 2014

On Saturday, February 15th, First Wind will host its annual Stetson Wind Snowmobile Ride-In, which has become a popular event for the region’s snowmobilers interested in seeing a wind project up-close while enjoying the scenic beauty of the area. Participants from all over Maine and New England will be able to ride their sleds along a series of well-groomed trails and arrive at First Wind’s Stetson Operations & Maintenance building, near Danforth, Maine for a complimentary lunch and more activities.

Wednesday, January 29, 2014

First Wind achieved record growth in 2013 by securing commitments for some 750 megawatts (MW) in new renewable energy projects. At the start of 2013, following the extension of the federal tax credits, First Wind announced that it planned to increase its operating portfolio of wind projects by 50 percent. By adding nearly 600 MW in planned new wind projects to the company’s 1,000 MW operating portfolio, First Wind was able to surpass those projections. In addition, the company has added solar power to its portfolio, and will complete 17 MW (AC) of solar projects by the summer and has another 150 MW of solar projects in late stages of development.

Tuesday, January 28, 2014

First Wind today recognized the fifth anniversary of successful commercial operations at its 125 megawatt (MW) Cohocton Wind project in Steuben County, New York. Commercial operations began in January 2009, producing enough clean, cost-competitive energy to power over 35,000 homes each year.

Thursday, January 23, 2014

First Wind celebrated the fifth anniversary of successful commercial operations of its 57 megawatt (MW) Stetson I Wind project. Since it began commercial operations on January 23, 2009, the first phase of the Stetson Wind project has produced enough energy to power an average of 18,300 Maine homes annually over the last five years.

Monday, December 30, 2013

First Wind has once again partnered with teachers in local classrooms in the company’s host communities to make contributions toward local education projects. After a successful strategic partnership with DonorsChoose.org during its first year in 2012, First Wind extended the relationship in 2013 and increased its funding to $15,000. Through DonorsChoose, First Wind supports teachers and their innovative classroom projects in its host communities. In its second full year, First Wind funded 43 projects at 31 schools, which reached and had a positive impact on nearly 2,600 students.

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