Maine Leads New England in Wind, Hydroelectric Energy

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Researched by Industrial Info Resources (Sugar Land, Texas)--Maine has become New England's wind-power leader in recent years, producing about 521 megawatts (MW), or enough to power about 180,000 homes. The state also is the biggest hydroelectric-power producer in New England, with 723 MW that accounts for 29% of its total generation.

Industrial Info is tracking 24 power projects in Maine, valued at $3.59 billion, with 16 wind projects, worth $3.13 billion, making up the largest portion. They are followed by a natural gas project worth $85 million; two tidal energy projects worth $84 million; a biomass project worth $25 million; and four electric transmission and distribution projects valued at $265 million.

The closure of Entergy Corporation's (NYSE:ETR) (New Orleans, Louisiana) Vermont Yankee Nuclear Power Plant in December 2014 has left a 620-MW deficit in the regional power grid. The situation requires New England states to look at developers of new generation, or to promote expansions or upgrades at existing power plants.

Governor Paul LePage has said that he wants to increase the use of existing resources in the state, such as renewable energy, as well as conventional resources like natural gas to diversify the state's energy mix and lower residents' energy bills. His plan would expand natural gas pipelines in Maine to take advantage of natural gas production in the Marcellus Shale region.

LePage wants to modify the state's policies to create a greater reliance on hydroelectric power. The governor seeks to enable the purchase of power from large hydroelectric projects in Canada, which would lower residential energy costs as well.

A report by the governor's energy office identified 12 powered dams and 35 unpowered dams with the potential to generate an additional 56 MW of hydroelectric power. However, federal and state regulatory and economic changes must be implemented for these projects to move forward in a timely and cost-effective manner. The report did not evaluate sites of potential new dams, but stated that Maine has significant opportunities for hydrokinetic facilities that can produce power from tides, waves or rivers.

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