OAKFIELD, Maine (AP) — A Maine town has received the first of payments that will amount to millions of dollars from an agreement with a renewable energy company.
First Wind said Tuesday that it has paid the town of Oakfield $600,000 as part of an agreement to build its wind power project there. The payment is the first of many that will be used to provide tax relief to area residents.
Over the next 20 years, the project will generate $12 million in such payments and an additional $20 million in property taxes.
The 148 megawatt wind project is anticipated to produce enough energy for about 50,000 homes. Construction began in 2013 after the project received state approval in 2012. It is scheduled to be complete in 2015.