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News Watch Home

Xcel to speed evaluation of wind farms to beat tax credit deadline 

Credit:  By Mark Jaffe | The Denver Post | 02/19/2013 | www.denverpost.com ~~

Xcel Energy wants to speed-up the evaluation of new wind farms, which have just this year to tap into a federal tax credit.

The utility filed a request with the Colorado Public Utilities Commission to accelerate evaluating wind proposals.

Xcel is planning an April solicitation for 350 megawatts of new generating facilities of all kinds.

The wind production tax credit, a key financial tool, is set to expire at the end of 2013, and the all-source solicitation is not scheduled to close until the end of the year.

That would not leave enough time for a wind projects to take advantage of the tax credit – equal to $22 for each megawatt-hour generated for the first 10 years.

“We have a great opportunity to see if additional wind resources in Colorado would be of economic benefit,” Ben Fowke, Xcel’s chief executive officer, said in a statement.

Source:  By Mark Jaffe | The Denver Post | 02/19/2013 | www.denverpost.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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