FirstLight and Middleborough Gas & Electric Department Enter Power Purchase Agreement
Burlington, MA – November 1, 2023 – FirstLight Power, a leading provider of clean energy and energy storage resources, today announced a new power purchase agreement with the Middleborough Gas & Electric Department (MGED). Through the agreement, MGED will purchase 35.3 percent of the output of hydroelectric power and equivalent renewable energy credits from FirstLight’s Shepaug Generating Station in Connecticut, the state’s largest source of renewable energy with a capacity of 42.6 MW. The power purchase agreement spans from 2027 to 2040 and will advance MGED’s strategy of keeping rates affordable for its customers while adding even more carbon-free electricity to its power portfolio.
“We are proud to continue our partnership with the Middleborough Gas & Electric Department, ensuring the delivery of clean, dependable, and cost-competitive electricity to MGED ratepayers,” expressed Peter Rider, Chief Commercial Officer at FirstLight Power. “The transition to a clean energy future demands bold leaders who take tangible steps, and MGED does just this by securing clean, cost-competitive power for residents while eliminating reliance on cost-volatile, emissions-heavy fossil fuels. We take pride in collaborating with pioneers like MGED, who are dedicated to advancing decarbonization while maintaining exceptional service for their customers.”
MGED entered into its first power purchase agreement with FirstLight Power in 2019, and in 2021, extended the agreement to 2040. Now, with this new agreement, MGED is further growing the carbon-free portion of their energy mix, well exceeding Massachusetts’ requirement for municipal utilities to obtain 50 percent of their power supply from carbon-free sources by 2030.
“MGED’s mission is to provide energy in an economical, reliable, safe and environmentally conscious manner, a mission driven by the priorities of our customers,” said Jackie Crowley, General Manager at MGED. “This deal helps us to do just that – we can ensure the reliable delivery of clean energy through 2040 as we work to keep customers happy and reach the MGED Board’s commitment of net-zero emissions by 2050.”
Long-term agreements like this one are vital in the transition to a clean energy economy to avert climate change, and they support FirstLight’s mission to advance the decarbonization of the electric grid as well as MGED’s goal of net-zero by 2050. In addition to paving the way to a clean energy future, long-term contracts for clean energy help protect municipalities and ratepayers from volatile energy prices associated with fossil fuel generation from oil and natural gas.