Tri Global's head requests tax credit freeze for renewables

Wind park in Texas. Author: Rockin'Rita. License: Creative Commons, Attribution-NonCommercial-NoDerivs 2.0 Generic.

March 27 (Renewables Now) - John Billingsley, the head of two renewables-focused companies, on Thursday urged the US government to not omit the clean energy industry when preparing measures aimed at dealing with the economic impact of the coronavirus pandemic.

Billingsley, who is the chairman and CEO of wind project developer Tri Global Energy LLC and solar engineering, procurement and construction (EPC) firm Sunfinity Renewable Energy, released a statement on the matter after it became clear that provisions for the wind and solar power sectors were removed in the USD-2-trillion (EUR 1.817trn) emergency bill cleared on Thursday. He requests that the clean energy industry is included in the next phase of federal stimulus spending.

According to Billingsley, support for those sectors does not require an immediate loan or grant, but should come in the form of a tax credit freeze.

“Congress can support the clean energy industry simply by extending the safe harbor provisions, essentially freezing tax credits in place, and eliminate uncertainty and enable projects to move forward,” he stated.

Dallas-based Tri Global Energy has developed over 3,500 MW of projects that currently are in financing, construction or operation.

(USD 1.0 = EUR 0.908)

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