BP “pleased” with federal wind tax credit extension

BP’s proposed $300 million project, however, is unlikely to begin in time to be eligible for the tax credit unless Congress extends it once more.

By JAEGUN LEE
TIMES STAFF WRITER

FRIDAY, JANUARY 4, 2013

The extension of the federal wind energy production tax credit will allow developers to move forward with their renewable energy projects, including the proposed Cape Vincent Wind Farm, according to BP Wind Energy.

“We are pleased that Congress passed the common sense extension of the PTC (production tax credit). This will allow wind energy developers to move forward with plans for new projects in 2013, while providing an opportunity to discuss ideas on the proper role of the PTC moving forward,” BP spokeswoman Amanda Abbott said in an email to the Times.

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