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Renewable Energy Tax Credits News Briefs - April 2013

Geronimo Wind Energy announced the implementation of a new practice regarding solar project development, as well as the hiring of Nathan Franzen as director of this solar development. Geronimo Wind Energy also changed its name to Geronimo Energy, as the company plans to develop solar projects for commercial, industrial and utility clients. Franzen will lead the company as it enters into the solar market. Franzen has a background in work with Westwood Professional Services, where he was director of solar energy. His experience includes project management of more than 100 commercial- and utility-scale solar projects in 16 states.

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The American Wind Energy Association (AWEA) reports that since Congress and President Barack Obama extended the production tax credit (PTC) for wind energy in H.R. 8, the “fiscal cliff” bill, U.S. electric utilities have been securing fixed-price contracts for wind power and signing up for more contracts. Sixty-six U.S. utilities bought or owned wind power by the beginning of 2013. Among the utilities making major wind power purchases and reporting savings are: Minnesota Power, part of ALLETE Inc., which completed phases two and three of its 210MW Bison Wind Energy Center in North Dakota, and Puget Sound Energy, which set a record by generating 23.5 percent of its energy from the utility’s three Eastern Washington wind farms. Consumers Electric Power estimates that Macon County and the state of Michigan received an economic boost of nearly $10 million from the development of the company’s first wind farm, the Lake Winds Energy Park.

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BGC Environmental Brokerage Services LP announced in February that the company hired Rich Heffernan to join its U.S. renewable energy team. Heffernan, alongside BGC, a global provider of financial services to environmental and green energy markets, will work on the renewables team to concentrate on Eastern Renewable Energy Certificates (RECs) and their spot and structured deal markets.

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The Public Land Renewable Energy Development Act of 2013, introduced by Sens. Jon Tester, D-Mont., and Dean Heller, R-Nev., would promote the development of renewable energy on public land. The bipartisan bill, S. 279, would streamline the current process for permitting renewable energy on public lands. Currently, obtaining permits for renewable energy projects on public lands can take more than two years. The act would reduce the number of steps necessary to develop public land, and would work toward allowing companies to make long-term plans for the land. The bill also has a measure to protect wildlife habitats in areas that will be developed.

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Sen. Al Franken, D-Minn., announced the he will chair the Energy Subcommittee of the Senate Energy and Natural Resources Committee. Franken said he plans to use his role to stimulate his state’s and the country’s renewable energy and energy efficiency sectors, as well as to create jobs. Having served on the Senate’s Energy and Natural Resources Committee since 2011, Franken said growth in these particular areas is critical to U.S. energy independence and competitiveness. Franken supports clean energy technologies, including solar, wind, and biobased energy. Franken has worked on legislation to encourage the nation’s clean energy sector and to increase manufacturing jobs, including bills related to a clean energy standard and the wind PTC.

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GreenWhey Energy Inc. settled a $28.5 million deal in construction and long-term financing for an anaerobic digester facility in Turtle Lake, Wis. A privately owned waste water treatment facility in Wisconsin, GreenWhey Energy Inc. is working to bring organic waste from multiple food producers – mostly cheese and dairy – into a central facility to treat that waste and generate electricity. The project is scheduled to be completed in summer of 2013, and is expected to qualify for a Section 1603 cash grant upon completion.

Journal Category:

Renewable Energy Tax Credits

Authors:

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