in News Departments > New & Noteworthy
print the content item

Western Wind Energy Corp., through its subsidiary Windstar Energy, has been awarded a Section 1603 cash grant in the amount of $78.3 million for its 120 MW Windstar wind farm, located in Tehachapi, Calif. However, the company says the grant received was $13.2 million less than the amount it originally submitted to the U.S. Department of the Treasury.

The company claims that "changes in the administration of the program" by the Treasury reduced the amount of the grant. While it did not provide specifics, Western Wind says that that Treasury revised its position on developer fees.

After analysis by external counsel and tax advisors, Western Wind maintains the developer fee included in the application was proper. The company says it will continue to work with the Treasury and anticipates receiving the remaining balance from its Windstar cash-grant application.


Advertisement

Trachte_id2056
Latest Top Stories

Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.

Hybrid Energy Innovations 2015