Happy New Year! We hope that you've had a wonderful holiday season and that you are ready to face the opportunities and challenges this new year will bring.
We are working hard on two major projects: 1) Anchor Power and 2) the Maine Power Express and we'd like to take a moment to update you on each of them.
Anchor Power is a proposed 85MW Cogeneration Power Plant that would deliver electricity to Northern Maine ratepayers, Heat & Steam for industrial processing and would "anchor" the expansion of natural gas infrastructure into Northern Maine for industrial, commercial and residential consumers.
In order to make the project a reality, we are working to secure a long-term power purchase agreement via an MPUC Order in Dockets 2012-00504 and 2014-00048. We must demonstrate the proposal meets Maine statutory regulations, is technically feasible, economically viable and can receive the necessary financing. This is a daunting task, but we have assembled an excellent development team to make it happen. The first quarter of 2015 will be a very busy time working with the MPUC staff to demonstrate the viability of the project.
The Maine Power Express is a proposed underground/underwater transmission project that would bring Maine Wind, Canadian Hydro power and other resources to the New England market.
We are keeping a close eye on the newly elected officials, Maine Commissioners and NESCOE updates to prepare to respond to a possible request for proposals. There are many projects proposed to do this, but with the location of the Loring Commerce Centre and the existing Searsport-Loring Right of Way, we believe the Maine Power Express is the most likely to achieve the required permits.
We appreciate your support as we work to bring energy infrastructure and economic development opportunities to Aroostook County and look forward to what this new year will bring.