HALOWELL — Maine utilities regulators have approved a long-term power contract for a 72.6-megawatt wind power project in Hancock County.

The Maine Public Utilities Commission voted unanimously Friday to approve the rate terms for the development by Weaver Wind LLC. Commission Chairman Philip Bartlett said the 20-year contract has a competitive rate that will benefit ratepayers.

The plan calls for 22 turbines to be installed in Eastbrook and Osborn.

It’s the first wind power project — and the second renewable energy project — approved this year by the commission. In February, the panel approved pricing terms for the 100-megawatt Three Rivers Solar project, also in Hancock County, with similar terms.

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