Published on July 7th, 2012 | by Zachary Shahan15
Is the Wind Industry Leaving the US due to Congressional Inaction? Yep.
July 7th, 2012 by Zachary Shahan
As stated for many, many months now, Congress needs to extend the production tax credit (PTC) for wind power in order to save tens of thousands of US jobs. And it needs to do so, like,… 6 months ago. It seems the industry is already moving out a lot of investment and jobs, or plans for such, due to the slow pace of this dysfunctional Congress.
From Greentech Media:
First Wind, based in Boston, took $211 million plus a $150 million loan from Canadian utility Emera Inc. for 49 percent of Northeast Wind Partners, a partnership which will handle First Wind’s eight-project, three-state, 385-megawatt northeastern business. Looking to Canada, where renewable energy retains big mandates and incentives, First Wind said the new partnership could lead to $3 billion in future investment and 1.2 gigawatts of new wind.
EDP Renewables North America, the second biggest wind U.S. developer after NextEra Energy, reportedly wants to sell 707 megawatts of operating wind projects and a 1.4-gigawatt development pipeline and Spanish utility Iberdrola Renovables is reportedly re-evaluating its U.S. strategy.
The town of Gillett, Wisconsin, population 1,256, will lose 45 jobs when Wausaukee Composites, a plastic and fiberglass wind turbine component maker, closes its Gillette factory August 31. Many small businesses in wind’s supply chain across the U.S. will soon be following suit.
At Windpower 2012 in June, GE Energy announced recent deals in Turkey, Canada and Brazil, and CEO Vic Abate called Europe, Canada, China, Brazil and India “the growth markets of the immediate future.”
For more wind industry trends, check out: Winds of Change: The Wind Industry Is Leaving the US.
Image Credit: wind turbines & sunset via Shutterstock