Ecuador’s government is auctioning 500 MW of renewable energy projects they’ve developed, allowing the country to diversify its power matrix away from too much large hydro. LAC-CORE has been asked to take a select group of developers and investors to Quito to meet with senior officials in the energy ministry, the national utility, and the regulatory agency for detailed, personalized presentations — and to seek the answers that’ll get them comfortable.
While most cities around the country rely primarily on fossil fuels for their energy, Georgetown is leading the way by going a greener route. The city already runs on 90 percent renewable energy and has plans to reach 100 percent in 2017, making Georgetown the third city in the country and the largest city in the United States to run 100 percent renewable energy.
The Internal Revenue Service said today that developers will have four years to complete a new wind farm or other renewable energy project and qualify for federal tax credits without having to prove that the construction work was continuous.
The four years will be measured from the end of the year in which construction starts on the project. For example, if construction of a new wind farm started in 2013, then the project must be completed by the end of 2017.
If it takes longer, then the developer will have to prove that work after 2013 was continuous. The IRS made the statement in the first of two new notices expected after Congress extended the deadlines to start construction of new renewable energy projects to qualify for tax credits.
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