ReGenerate Energy, LLC

Power Purchase Agreement with ReGenerate Livermore Falls Exceeds Economic Benefit Goals The ReGenerate Livermore Falls biomass power facility has provided $61.2 million in in-state economic benefits over the first three years of its long-term power purchase agreement with Central Maine Power, according to a detailed report submitted to the Maine Public Utilities Commission in February 2024. ReGenerate Livermore Falls has a 20-year fixed-price contract to sell a portion of its electricity to Central Maine Power that commenced in January 2021. This was as a result of a February 2020 RFP issued by the Maine Public Utilities Commission. (During the 2019 legislative session, the Maine Legislature enacted “An Act To Reform Maine’s Renewable Portfolio Standard, which directed the Commission to conduct two competitive solicitation processes to procure renewable energy from new and existing resources; the second procurement was conducted in 2021). As part of the bid evaluation as well as the contract, the facility is required to provide Economic Benefit Obligations (“EBO”) to the State that meet or exceed the amounts indicated in the bid. These EBO are calculated and reviewed on an annual basis by ReGenerate and the Maine Public Utilities Commission. The benefits come in the form of capital investments, purchases of goods and services, taxes paid to Maine jurisdictions, purchases of wood fuel, and Maine-based jobs. In each of the first three years of the contract, the economic benefit of the facility exceeded the amount bid into the contract. Cumulatively over the three years, the facility achieved in-state benefits of $61.2 million, which was 16% higher than the estimated amount that had been bid into the contract. The Public Utilities Commission has reviewed ReGenerate’s EBO report and has determined that no contract adjustments are necessary. Learn more at https://lnkd.in/eYefDZGE