July 2, 2003—Massachusetts Technology Collaborative (MTC) Executive Director Mitchell Adams has unveiled the most comprehensive proposal in Massachusetts history to increase the supply of electricity from clean, renewable sources such as wind power and solar energy. The new $30 million Massachusetts Green Power Partnership will enable green power buyers and sellers to establish long-term contracts to support the development of new clean energy projects.
MTC is offering to purchase renewable energy certificates (RECs) under long-term contracts and to provide other REC price supports for developers of renewable energy generating facilities, and for companies that purchase energy from such facilities. The purpose of these offerings is to facilitate the financing of new renewable energy facilities such as wind, solar, biomass and hydro power, and to benefit Massachusetts customers who are interested in buying this green power.
Opportunities through this funding round include:
- agreements to purchase RECs
- “put options” on RECs, which serve to provide a price floor
- “price collars” (put and call options) on RECs
For more information, contact the Massachusetts Green Power Partnership.
