Boston, Massachusetts [RenewableEnergyWorld.com] UPC Wind has announced that it has finalized an agreement with the Steuben County Industrial Development Agency (SCIDA) in New York, establishing the second of two major economic packages for the region as part of its Cohocton and Dutch Hill Wind Power Projects.
The agreement, called a Payment In Lieu Of Taxes, or PILOT payment, will be administered by SCIDA and used to provide more than $14 million in revenue and services to the Town of Cohocton, the Wayland-Cohocton School District and the Avoca School District.
UPC Wind began construction on the Cohocton Wind Project in the fall of 2007. Upon completion, the Cohocton and Dutch Hill Wind Projects will include fifty 2.5-megawatt (MW) wind turbines. In total, the project will produce approximately 125,000 megawatt-hours (MWh) of electricity annually, enough to power 54,000 homes each year.
“We are pleased to have finalized our agreement with SCIDA putting in place the second major component of our economic package for the Town of Cohocton and surrounding communities,” said Chris Swartley, director of business development for UPC Wind. “This 20 year, $14.5 million commitment complements our existing agreement with the Town of Cohocton to provide annual revenues totaling $11.5 million over the first twenty years of the project. As a community partner, we’re happy to help prime the region’s economic engine and help support schools, roads and other critical community services.”