Renewable Energy Tax Credit News Briefs – March 2019

Friday, March 8, 2019

The U.S. Court of Federal Claims issued an opinion Jan. 7 ordering a wind energy developer to pay back more than $5.6 million in Internal Revenue Code Section 1603 cash grants. The court sided with a Department of Treasury’s claim that the wind energy developer inappropriately calculated the grant amount for which it should qualify. The federal order is available at www.energytaxcredits.com.

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Energy company Innogy signed contracts for the construction of a wind turbine in Ohio in late January. Scioto Ridge wind farm, a 242-megawatt project in Hardin and Logan counties in Ohio, will qualify for the production tax credit. Siemens Gamesa Renewable Energy will supply 72 wind turbines, with full construction of the wind farm on schedule to begin in the second quarter of 2019. Operations of the entire 72-turbine facility is expected in the fourth quarter of 2020.

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