nuclear-news

USA wind energy to get a boost with an extension of the Production Tax Credit

US tax move puts wind into renewable energy stocks, Sydney Morning
Herald, January 3, 2013 – Vestas Wind Systems, the biggest
wind-turbine maker, and Gamesa Corp. Tecnologica led gains among
European peers as the US Congress approved a law extending a tax
credit for the industry.

Shares of Aarhus, Denmark-based Vestas surged 6.7 per cent, the most
in five weeks, to close at 34 kroner in Copenhagen. Gamesa rose 9.5
per cent, the most since August, to 1.817 euros in Madrid, while
Nordex SE climbed 4 per cent in Frankfurt.

The US House late yesterday passed a bill averting spending cuts and
tax rises that had threatened an economic recovery. The law, already
approved by the Senate, includes an extension of the Production Tax
Credit, which pays wind-farm owners 2.2 cents for every kilowatt-hour
of power they produce.

“It’s really good news for Vestas, because the American market and how
it develops is extremely important,” Chief Marketing Officer Morten
Albaek said today in a phone interview. “It’s a good way of starting
the new year.”

The US Energy Information Administration said Dec. 19 that wind-farm
installations in the country would top 12 gigawatts in 2012 as
developers rushed to complete projects before the scheduled Dec. 31
expiry of the tax credit, known as the PTC. Th
http://www.smh.com.au/business/carbon-economy/us-tax-m

January 3, 2013 - Posted by Christina Macpherson | renewable, USA