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Governors' Wind Energy Coalition

January 2, 2013

Congress extends wind energy tax credits for projects that start in 2013

By Ellen Carey, AWEA  •    •  Posted 2013-01-02 13:15:35

Congress has included the long-sought extension of wind energy tax credits in final passage of a bill to avert the “fiscal cliff” that now moves to President Obama for his expected signature. America’s 75,000 workers in wind energy are celebrating tonight over the continuation of policies expected to save up to 37,000 jobs and create far more over time, and to revive business at nearly 500 manufacturing facilities across the country. The extension of the wind energy Production Tax Credit (PTC), and Investment Tax Credits for community and offshore projects, will allow continued growth of the energy source that installed the most new electrical generating capacity in America last year, with factories or wind farms in all 50 states. [ read more … ]

Iowa’s wind energy industry praises inclusion of tax credit in fiscal cliff budget deal

by William Petrosk, Des Moines Register  •    •  Posted 2013-01-02 13:16:00

“Overall, this is very, very good news for the wind industry and I think it will help us out,” said Harold Prior of Milford, executive director of the Iowa Wind Energy Association. Because projects begun this year will be eligible for the tax credit, the Senate’s provisions are basically a two-year extension because the work can be completed in 2014, he added. “But the industry needs more certainty than a one- or two-year extension,” Prior said. “Pretty much 2013’s developments are lost right now because of the lead time needed to manufacture the major components. Also, the manufacturers of major components need a better surety of what the government subsidies are going to be before they invest millions in manufacturing these large components. [ read more … ]

Vestas, Gamesa Advance After U.S. Extends Wind-Power Tax Break

By Alex Morales & Stefan Nicola, Bloomberg  •    •  Posted 2013-01-02 13:16:34

Vestas Wind Systems A/S (VWS), the biggest wind-turbine maker, led gains among European peers as the U.S. Congress approved a law extending a tax credit for the industry. Shares in Aarhus, Denmark-based Vestas surged as much as 13 percent, the most in five weeks, and were up 7.8 percent at 34.35 kroner as of 10:52 a.m. in Copenhagen. Nordex SE (NDX1) rose 3.3 percent and Gamesa Corp. Tecnologica SA (GAM) jumped 7.2 percent. The U.S. House late yesterday passed a bill averting spending cuts and tax gains that had threatened an economic recovery. The law, already approved by the Senate, includes an extension of the Production Tax Credit, which pays wind-farm owners 2.2 cents for every kilowatt-hour of power they produce. [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.