July 30, 2008

TransCanada wins approval for $320-million Kibby Wind Power Project

RICHARD GILBERT

staff writer

A Calgary-based energy infrastructure company has received state approval for a planned wind power project in Maine.

TransCanada Corporation has announced that the $320 million Kibby Wind Power Project has received final development plan approval from Maine’s Land Use Regulation Commission (LURC).

Construction plans are now underway for the 132 Megawatt (MW) wind project located in Kibby and Skinner Townships in northwestern Franklin County, Maine.

“The Kibby project will complement our existing operations in the U.S. Northeast, and leverage our expertise in wind energy,” said Hal Kvisle, president and CEO of TransCanada.

“We expect our investment to produce strong returns for our shareholders.”

The project will involve the construction of 44 wind turbine generators (3 MW each), and will employ up to 250 people during the 12 to 18 month construction period.

The project recently received approval from the towns of Carrabassett Valley and Eustis for portions of the 115 kV transmission line that will connect the project to the ISO New England electrical grid.

The Maine Department of Environmental Protection has issued all necessary project permits and the United States Army Corps of Engineers is expected to issue a permit soon.

Pending remaining approvals, TransCanada expects to begin construction later this summer and to commission the project in 2009/2010.

Permanent operation will employ about 10 to 12 people.

The Department of Economic and Community Development (DECD) in Maine recently announced that it has approved tax increment financing (TIF) for the Kibby Wind Power Project.

This is the second TIF ever approved for an unorganized territory in the state.

“Maine has the highest wind power potential in New England and Kibby Wind Power will not only create new jobs for the region, but the electricity generated will be clean, green power,” said DECD commissioner John Richardson.

The project will be the largest wind power development in New England, providing enough clean, renewable electricity for the equivalent of 50,000 average homes.

In June 2007, the Appalachian Mountain Club, Maine Audubon, and Natural Resources Council of Maine announced support for Kibby Wind Power.

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