Lowell Signs Deal With Green Mountain Power

04/15/10 7:30AM

Vermont's second largest electric utility is going to pay the town of Lowell between $13 million and $15 million over the next 25 years in exchange for support of a wind-power project.

The Lowell Select Board signed the deal with Green Mountain Power on Tuesday.

Last month, Lowell voters approved a referendum supporting GMP's plan to install up to 24 wind turbines on a ridge line.

In exchange for the payments, the board agreed to support GMP's application for state permission for the project.

The Caledonian Record says the money will be paid annually in lieu of property taxes once the towers start making electricity.

The size of the payments each year will depend on how much power is the turbines generate.

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