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First Wind to increase portfolio in 2013

First Wind to increase portfolio in 2013
Tax credits extension will fuel more wind projects in 2013

U.S. based renewable energy company First Wind has high hopes for its wind portfolio, following the extension of federal tax credits by the Obama administration last week (see related story).

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First Wind, which currently operates 980 megawatts of wind projects in six states, is looking to increase its operating portfolio by 50 percent or more.

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“With the passage of the wind energy tax credit extension, First Wind and other wind energy companies around the country have predictable federal policy in place that will allow for millions of dollars of investment in local communities over the next few years,” said Paul Gaynor, the company’s chief executive officer.

The American Taxpayer Relief Act of 2012 extended the wind energy Production Tax Credit and Investment Tax Credit for community and offshore projects. All wind projects that start construction in 2013 will be eligible for these tax credits.

First Wind has a number of projects in late stages of development that will be ready for construction by the end of this year. These include several projects in Maine and possible projects in Oregon, Washington, Idaho, Utah and Hawaii. – EcoSeed Staff



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