Colchester-based Green Mountain Power (GMP) announced on March 4 a power purchase agreement with Great River Hydro, based in New Hampshire, to provide power for customers.
Great Hydro purchased the currently operating hydro system from TransCanada four years ago.
The power purchase agreement, subject to Public Utility Commission review and approval, is for 30 years starting in 2023.
The contract, GM officials claim, will create “long-term stability in GMP’s power supply while also enabling opportunity for more local renewables as Vermont pushes to meet clean energy goals to combat climate change.”
GMP’s purchases from Great River Hydro’s facilities, mostly along the Connecticut and Deerfield rivers, will increase over time, just as other GMP power supply agreements step down, but will cover a smaller portion of GMP’s load.
“This will create opportunities for other complementary local and regional renewables like solar and wind, especially as customers transition heating and transportation to clean electricity as a part of Vermont’s climate goals,” GMP stated in a March 4 news release.
“We are focused on delivering clean, cost-effective, reliable power to our customers 24/7, 365. This resource fits really well in our portfolio and still leaves open tremendous availability for other renewable sources,” said GMP President and CEO Mari McClure. “Identifying and securing a clean, cost-effective, reliable source of power close to where Vermonters will use it is key to speeding up our transition to a 100 percent carbon-free and renewable power supply by 2030.”