Italian energy firm Enel Green Power has continued its commitment to the US renewable energy market and has extended the framework agreement it signed at the end of 2013 with Vestas for the continued development of wind farms in the US.
The capacity yet to be fully developed within the 2013 agreement, together with the current extension, will enable the Company to qualify up to approximately 1 GW of future wind capacity in the United States for Federal Production Tax Credits (PTCs).
Enel Green Power North America qualified for the federal tax incentives as a result of its continued substantial investment in the US and recent action by the US Congress to extend the Federal Production Tax Credits as part of the Tax Increase Prevention Act of 2014, signed into law last month.
Enel Green Power operates in the US through Enel Green Power North America, which owns and operates over 90 plants in 21 US States and two Canadian provinces.
As of today, the company has a total installed capacity of more than 2,000 MW, enough electricity to power up to a million homes, taking into account the capcity factor of renewable energy generation. Such a capacity base is diversified across four generation technologies, namely wind, geothermal, solar and hydro.