At the Special Board meeting held on June 27, 2017, GVEA’s Board passed a motion authorizing Cory Borgeson, GVEA’s President & CEO, to finalize negotiations and sign a Power Purchase Agreement (PPA) with Fire Island Wind P2, LLC, a Cook Inlet Region Inc. (CIRI) subsidiary, for the purchase of wind energy.
The PPA is contingent on GVEA reaching agreements with other Railbelt Utilities to provide regulation and transmission services in order for GVEA to receive the wind energy into its system. These additional agreements, once negotiated, will require GVEA Board review and approval.
As a long-time advocate of renewable energy, GVEA is optimistic that these negotiations and agreements will result in additional renewable energy for Interior Alaska and will provide an economic model that can be offered to other independent power producers. The Fire Island wind project is a unique opportunity for GVEA to partner with other Railbelt Utilities, demonstrating the cooperative spirit necessary to make projects like this successful.