OTIS WIND ENERGY PROJECT UPDATE
May 19, 2015
Otis Wind Energy Project Highlights
The Town of Otis on March 20, 2015 applied to the IRS for a New Clean Renewable Energy Bond (CREB) in the amount of $6,322,200.00 for the construction of the Otis Wind Energy Project. We received notice on May 18, 2015 that we are being awarded a New CREB for the full amount of the application. This Bond is a federally backed loan guarantee with an interest rate of from 1 to 2 percent for 24 years. Letters from the Massachusetts Congressional Delegation, Senators Elizabeth Warren and Ed Markey and Representative Richard Neal were submitted in support of our project. State Senator Benjamin Downing, the Department of Energy Resources (DOER) and the Commonwealth Energy Center (Mass CEC) continue to support our project. THE OTIS WIND ENERGY PROJECT WILL BE FUNDED BY A REVENUE BOND WHICH HAS NO IMPACT ON THE TAX RATE.
The wind turbine location is 1908 Algerie Rd and is one of three locations offered by Ed Williams during discussions with Otis about wind energy. The turbine location is over 2000’ feet East of Algerie Rd offering a greater setback distance from residences and a lower cost of interconnection.
There is a System Impact Study in process by Eversource (WMECO) to determine the cost of the utility interconnection at this site. Estimates generated from the Lee Westfield Rd study indicate a cost of under $350,000.00. This figure is in line with projected costs from on going design engineering costs.
The Town’s consultant, Sustainable Energy Developments, (SED) is working with GE on the procurement of a 1.7 Mega Watt (MW) wind turbine generator, 1.7-100. Projections of the wind resource indicate power generation of over 6 million killowatts per year. There is some discussion with GE regarding a larger 2.0 MW machine with a 112 meter rotor.
Public information meetings will be posted and a Special Town Meeting for residents to vote on bond approval will be scheduled in the coming months.