in News Departments > Projects & Contracts
print the content item

The Department of Economic and Community Development (DECD) has announced the approval of tax increment financing (TIF) for the UPC Wind Power Project on Stetson Mountain in northern Washington County in Maine. TIF, a DECD program, uses future tax gains to finance current improvements that will create the gains.

The project is slated to begin this winter pending final approval by the Land Use Regulation Commission.

"This historic action by the state of Maine represents a major milestone for the Stetson Wind Project as the TIF revenues will provide the necessary foundation to ensure the viability of the project," says Matt Kearns, UPC Wind's project manager for Stetson Wind.

The Stetson Wind Project will consist of the construction and operation of 38 GE 1.5 MW wind turbines. UPC expects the project to produce approximately 150 million kWh of electricity annually.


Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015