(ADPnews) – Sep 21, 2010 – As Congress vacillates on whether or not to extend a popular sector cash grant scheme, US utility Xcel Energy Inc (NYSE:XEL) has called a request for proposals for supply of 250 MW of new wind power.
Proposals for long-term power-purchase agreements (PPAs) or for the purchase of newly-built wind farms can be submitted by October 15.
Xcel Energy is making haste to stock up on wind power eligible for subsidy under the Section 1603 cash grant programme enacted in last year’s American Recovery and Reinvestment Act as the clock is ticking towards its planned expiry at the end of this year.
To qualify for the incentive -- which offers wind developers a cash grant in lieu of tax credits -- developers must place projects in commercial operation by the end of 2010. Alternatively, they could complete project construction by December 3 and set turbines spinning by December 31.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.