Spanish Solar Firm to Suspend Two U.S. Projects if Investment Tax Credits Are Not Extended

Solar Thermal Power Plant photo

photo: Getty Images

The various renewable energy incentive packages introduced into the U.S. Congress, or stalled in the Senate have been a running post topic in the last month or so on TreeHugger. Now comes word, through GreenTechMedia, that legislative inaction may result in at least one company abandoning two U.S. solar projects.
Solar Thermal Power Plant, Factory Plans at Risk
Obviously without having access to Abengoa Solar's financial data, there’s no way to know for sure if it’s just bluffing when it says that unless the stalled renewable incentive package it will be forced to cancel plans for a 280 MW solar thermal power plant outside of Phoenix, as well as a factory to manufacture mirrors for use in other solar thermal projects. Although the cost of both projects has not been revealed, it is estimated that tax credits would cover 30% of project costs.

Abengoa says that it is currently operating on the assumption that the multi-year tax incentive extension will be passed, but without these incentives Abengoa says it will not be able to secure financing for the projects.

via :: GreenTechMedia
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