FIRSTLIGHT POWER
Middleborough Gas & Electric Department Enter Power Purchase Agreement

FirstLight Power and Middleborough Gas & Electric Department Enter Power Purchase Agreement for 35 Percent of Clean Hydropower Output from the Shepaug Generating Station in Connecticut

As part of the agreement, Middleborough Gas & Electric Department will purchase clean energy and the equivalent renewable energy credits produced by Connecticut's largest hydroelectric facility

FirstLight Power, a leading provider of clean energy and energy storage resources, today announced a new power purchase agreement with the Middleborough Gas & Electric Department (MGED). Through the agreement, MGED will purchase 35.3 percent of the output of hydroelectric power and equivalent renewable energy credits from FirstLight's Shepaug Generating Station in Connecticut, the state's largest source of renewable energy with a capacity of 42.6 MW. The power purchase agreement spans from 2027 to 2040 and will advance MGED's strategy of keeping rates affordable for its customers while adding even more carbon-free electricity to its power portfolio.

"We are proud to continue our partnership with the Middleborough Gas & Electric Department, ensuring the delivery of clean, dependable, and cost-competitive electricity to MGED ratepayers," expressed Peter Rider, Chief Commercial Officer at FirstLight Power. "The transition to a clean energy future demands bold leaders who take tangible steps, and MGED does just this by securing clean, cost-competitive power for residents while eliminating reliance on cost-volatile, emissions-heavy fossil fuels. We take pride in collaborating with pioneers like MGED, who are dedicated to advancing decarbonization while maintaining exceptional service for their customers."

MGED entered into its first power purchase agreement with FirstLight Power in 2019, and in 2021, extended the agreement to 2040. Now, with this new agreement, MGED is further growing the carbon-free portion of their energy mix, well exceeding Massachusetts' requirement for municipal utilities to obtain 50 percent of their power supply from carbon-free sources by 2030.

"MGED's mission is to provide energy in an economical, reliable, safe and environmentally conscious manner, a mission driven by the priorities of our customers," said Jackie Crowley, General Manager at MGED. "This deal helps us to do just that - we can ensure the reliable delivery of clean energy through 2040 as we work to keep customers happy and reach the MGED Board's commitment of net-zero emissions by 2050."

Long-term agreements like this one are vital in the transition to a clean energy economy to avert climate change, and they support FirstLight's mission to advance the decarbonization of the electric grid as well as MGED's goal of net-zero by 2050. In addition to paving the way to a clean energy future, long-term contracts for clean energy help protect municipalities and ratepayers from volatile energy prices associated with fossil fuel generation from oil and natural gas.

About FirstLight Power

FirstLight Power (FirstLight) is a leading clean power producer, developer, and energy storage company serving North America. With a diversified portfolio that includes over 1,600+ MW of operating renewable energy and energy storage technologies and a development pipeline with 2,000+ MW of solar, battery, and offshore wind projects, FirstLight specializes in hybrid solutions that pair hydroelectric, pumped-hydro storage, utility-scale solar, large-scale battery, and offshore wind assets. The company's mission is to accelerate the decarbonization of the electric grid by supporting the development, operation, and integration of renewable energy and storage to meet the world's growing clean energy needs and deliver an electric system that is clean, reliable, affordable, and equitable. Based in Burlington, MA, with operating offices in Northfield, MA, New Milford, CT, and Oshawa, ON, FirstLight is a steward of more than 14,000 acres and hundreds of miles of shoreline along some of the most beautiful rivers and lakes in North America. FirstLight has been wholly owned by PSP Investments since 2016. To learn more, visit www.firstlightpower.com or follow us on LinkedIn or Twitter.

About Middleborough Gas and Electric Department (MGED).

Middleborough Gas and Electric Department (MGED) is a different kind of utility. Created by the town of Middleborough, MGED serves the unique needs of the communities of Middleborough for electricity and natural gas, and neighboring Lakeville for electricity. Without investors or out-of-state and even out-of-country owners, everything MGED does depends on the priorities of local ratepayers under the leadership of a five-member elected Board of Gas & Electric Commissioners. To learn more, visit mged.com.