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Wind Power Developers Put U.S. Projects on Hold Awaiting PTC Extension

April 02, 2012, 06:30 AM
Filed Under: Energy

Bloomberg reported that according to Katrina Landis, Chief Executive Officer of BP Alternative Energy, wind-power developers are putting U.S. projects on hold while waiting to see if Congress approves an extension of the Production Tax Credit due to end Dec. 31, 2012.

“We’ve been hearing from wind-turbine manufacturers that they have no orders for 2013,” Landis said in an interview at the Bloomberg New Energy Finance Summit in New York. “They are shifting to places like Brazil, where there is more certainty about support.”
According to the report, if the tax credit is allowed to expire, installations of turbines in the U.S. may fall as much as 95% in 2013 from this year, according to Amy Grace, a New Energy Finance wind analyst.

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