ORANGEVILLE – Chicago-based Invenergy is still considering exactly how it will move forward with the Stony Creek Wind Farm, following legislation which extended a major federal tax credit.
The Production Tax Credit for wind energy was extended as part of Tuesday’s deal to avoid the looming “fiscal cliff.”
“We currently are reviewing the recently-passed federal legislation and formulating our business strategy,” said Director of Business Development Eric Miller in a statement.
“Initial construction work on the Stony Creek project began in mid-2012 and will continue in 2013, with a more detailed timeline to be determined,” he continued. “We look forward to announcing further developments in the future.”
The extension was included in the last-minute agreement to avoid the “fiscal cliff” that would have resulted broad tax increases and spending reductions. The agreement covers all wind projects which start production in 2013.
Town Supervisor Gerald Stout said he had exchanged e-mails with Miller on Wednesday morning, and believed the company was tentatively planning construction in spring.
“I would be surprised if they chose not to go forward with it now especially,” Stout said. “But they would have to complete it by Dec. 31.”
The PTC allows 2.2 cents per kilowatt hour for wind, geothermal and “closed loop” biomass energy during a facility’s first 10 years of operations.
Prior to the renewal, an “in-service” deadline of Dec. 31, 2012 had been set for wind projects to qualify.
The Stony Creek Wind Farm would include 59 wind turbines. Each would be 430 feet tall, with a generating capacity of 1.6 megawatts each.
Preparatory work has been under way since this past summer. The limited construction so far has included clearing for some turbines and access roads. Grading was expected to start last month for the project’s substation on Centerline Road.
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