Massachusetts Maritime Academy gets unexpected windfall (wind power RECs)

[jpak]

http://www.capecodonline.com/apps/pbcs.dll/article?AID=/20071118/BIZ/711180311/-1/NEWS

BUZZARDS BAY — When news first broke about a wind turbine on the Massachusetts Maritime Academy campus, Adm. Richard Gurnon received a slew of calls from companies offering to purchase the college's RECs, or renewable energy credits.

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"I thought they were talking about wrecked, old cars and I told them we didn't have any," he said.

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The turbine provides about 25 percent of MMA's electricity and saves the school more than $200,000 annually, according to the school's Web site.

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In a few months, the college will hire a broker to auction the RECs in what will be MMA's second auction. With the going rate hovering around $57 per REC, the college could raise more than $60,000 at auction. Last time, the turbine hadn't been in operation for very long and the school received about $22,000 for those RECs.

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