Vermont Business Magazine Green Mountain Power has reached an agreement with Enel Green Power NA to acquire 14 of its small hydroelectric power stations located mainly in northern New England, with an approximate total capacity of 17 MW. GMP has also entered into a power purchase agreement with Enel for the rights to the output of two other Enel hydroelectric power stations in accordance with a 25-year PPA. This $20.3 million acquisition, which is subject to regulatory approval by the Vermont Public Service Board and the Federal Energy Regulatory Commission, is expected to close in 2017. GMP and Enel reached agreement in July
Map of GMP's hydro stations. Above, the Taftsville site on the Ottauquechee River in the town of Woodstock. GMP images.
GMP spokesperson Dotty Schnure told VBM that the agreement includes the purchase of 14 hydroelectric facilities, four of which are in Vermont: North Hartland, Newbury, Hartford and Barnet. The others are in New Hampshire, Maine and Massachusetts. The PPA includes one facility in Sheldon and another in Ticonderoga, NY.
"The exciting part of this is that more than half the power output is from Vermont," Schnure said.
She said the total renewable energy generated from these deals is enough to power 21,000 homes. GMP already owns 32 local hydro stations.
The 14 dams range in size from 0.4 megawatts to 2.78 megawatts. GMP's current hydro fleet produces electricity at around 3 cents per kilowatt-hour. The new dams will supply electricity at about 8.5 cents per kwh. By comparison, solar panels cost 11-13 cents per kwh.
Enel Green Power NA is a subsidiary of Italian energy giant Enel Spa.
Sources: GMP. Gaz Metro. 8.12.2016