Thursday 24 January 2013
Under the old PTC rules, beginning construction meant starting work “of a significant nature,” which could include steps like building access roads and foundations, but not initial work such as environmental reviews and geophysical studies. Moreover, beginning work on one turbine qualified as construction on the entire project.
North American Wind Power(NAP)
by Laura DiMugno on Thursday 24 January 2013
As the initial relief and excitement over the extension of the wind energy production tax credit (PTC) begin to subside, many developers are seeking clarification on what the changes to the legislation's language mean for their projects and future development plans.
As most in the industry know by now, projects must begin construction - rather than enter operation - by Jan. 1, 2014, in order to qualify for the PTC. The change in language was welcomed by many developers, which are now afforded more time to complete their projects. However, the new verbiage also introduced a number of questions, such as what it technically means to begin construction.[NAP]
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