Wind Power Developers Race Clock to Secure Subsidy
As the rest of the world prepares to toast the new year, the wind industry is hard at work on its own year-end tradition, rushing to make sure projects qualify for an important subsidy before it is set to vanish at the stroke of midnight on Tuesday.
Developers are signing deals, ordering equipment and lurching ahead with construction starts to qualify for a tax credit that is worth 2.3 cents a kilowatt-hour for the first 10 years of production. This month, giant turbine-makers like Vestas and Siemens have announced major new orders, including a deal worth more than $1 billion with MidAmerican Energy, an Iowa-based utility majority-owned by Warren E. Buffett’s Berkshire Hathaway, and another with the Cape Wind project in Nantucket Sound.
In previous years, the projects had to be in commercial operation by New Year’s Eve. This year, they need only have begun.
“What we see right now is a race to the finish line, where we’re trying to get projects signed,” said Mark Albenze, chief executive of the Wind Power Americas unit of Siemens Energy. “It’s a little bit of a different dynamic, whereas in ’12 our projects teams were the ones stressing out in December and now it’s our acquisition team.”
Montana wind farm operator sues California utility for breach of contract
SUIT SEEKS TO BLOCK SAN DIEGO GAS & ELECTRIC FROM RENEGING ON COMMITMENTS TO INVEST IN RIM ROCK WIND FARM AND TO BUY RENEWABLE ENERGY FROM THE FACILITY
Huaneng Power International, Inc. Hubei Sui Xian Jieshan Wind Farm Project Obtained Approval
JinkoSolar Partners with Beijing University to Build the University's First Experimental PV Plant
Research will be conducted on a number of PV modules and inverters while they are exposed to various conditions.
Boralex announces the commissioning of 32 MW in France
PSEG Acquires Two Power Plants from Canadian Solar
PSEG Acquires Two Power Plants from Canadian Solar
ReneSola Solar Panels Lab Certified by CSA International
ertification under this program means ReneSola PV panel testing and calibration conform to international standards, and positions ReneSola's Jiangsu laboratory among leaders in the solar industry.
Carlyle Capital Markets to Source Capital for Principal Solar Project Acquisition and Development
CCMI was selected based upon its extensive experience with alternative energy projects.
PNE WIND USA constructs Chilocco wind farm project
The wind farm is being built in an area located around the "Chilocco Indian School" on Indian tribe lands.
New Joint Venture oursun Energy (Private) Limited founded in Zimbabwe
Oxygen Group and The meeco Group to develop solar energy in Zimbabwe
KACO new energy inaugurates new US inverter manufacturing plant and office in San Antonio, Texas.
The San Antonio Chamber of Commerce sent representatives to officially welcome KACO new energy to their city.
The South Canoe wind farm (102 MW) in Nova Scotia will consist of thirty-four 3 MW ACCIONA Windpower turbines
The facility will supply electricity equivalent to the consumption of 32,000 homes and will help the province of Nova Scotia reach its renewable energy targets.
DEGER: Stability in a difficult market environment – Fraunhofer ISE confirms high efficiency level of MLD* technology
2013: World's market leader for solar tracking realizes large projects –additional yields through MLD technology scientifically proven
KYOCERA Solar Captures Sun and Creates Shade at Tucson Airport
The project converts the abundant sunshine in "The Old Pueblo" into renewable energy powering the airport's main terminal.
Declining costs of renewable energy prompts DTE Energy to lower customer bills
Reacting to the declining price of wind energy, which is now cheaper than all other forms of energy, DTE altered its surcharge in a filing with the Michigan Public Service Commission last summer.
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