Iberdrola Renewables Begins Advanced Development at its Wild Meadows Wind Farm

The 75.9 MW project could contribute $1.6 million per year to the local community

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October 3, 2013

PORTLAND, Ore. — Iberdrola Renewables has begun advanced development of its 75.9 megawatt Wild Meadows Wind Farm located on leased, privately-owned land in the towns of Alexandria and Danbury, in New Hampshire.

The wind farm represents a potential $150 million investment in the New Hampshire economy, and would add to Iberdrola Renewables’ existing investments in New Hampshire, in Lempster and Groton. The project expects to provide up to 300 jobs during construction, and continues the company’s commitment to New Hampshire and the state’s growing renewable energy sector.

“We are pleased to continue investing in New Hampshire, a state helping to lead the clean energy economy,” said Ed Cherian, the Iberdrola Renewables development director. “Wild Meadows could serve as a significant new source of renewable power, and also generate new revenue for the towns and the state.”

In addition to being a local source of clean energy, Wild Meadows would create significant local economic benefits in the form of construction jobs, local spending during construction, long term tax revenue and landowner income. The company estimates the project will contribute $1.6 million per year to the local community, or more than $33 million over 20 years.

Environmental assessment studies and surveys have been largely completed and the company expects to file an application with the New Hampshire Site Evaluation Committee in the coming months.

The decision to develop this project comes after the execution of a fixed price power purchase agreement over a 15-year term with a group of four Massachusetts utilities, recently filed with the State of Massachusetts’ Department of Public Utilities. The utilities — National Grid, Northeast Utilities, and Unitil Corp. — would buy 565 megawatts of electricity from six wind farms in Maine and New Hampshire, enough to power an estimated 170,000 homes. The competitive bid process resulted in average prices below the cost of most conventional sources.

Wild Meadows could become Iberdrola Renewables’ third wind farm in the state, after Lempster (24 MW) and Groton (48 MW), currently in operation.

This project would be a significant source of clean energy and would consolidate New Hampshire as a leader in meeting New England’s renewable power needs. The project would generate enough electricity to cover the needs of 30,000 typical houses on average, while offsetting carbon dioxide (CO2) emissions by over 340 million pounds per year, equivalent to burning 17.4 million gallons of gasoline or preserving about 1,200 acres of forest from conversion to cropland.

Iberdrola Renewables, LLC is the U.S. renewable energy division of parent company IBERDROLA, S.A., an energy pioneer with the largest renewable asset base of any company in the world. Iberdrola Renewables, LLC is headquartered in Portland, Ore., and has more than $10 billion of operating assets totaling more than 5,800 MW of wind and solar generation. www.iberdrolarenewables.us

Media Contacts:

Paul Copleman, 207-641-2805, 215-416-9656