PTC uncertainty prompts major moves by MidAmerican, Vestas

01/15/2012 | Greentech Media

The uncertainty over the renewable-energy Production Tax Credit is driving both MidAmerican Energy Holdings' purchase of 407.1 megawatts of new wind power capacity in Iowa and Vestas Wind Systems' threat to eliminate up to 1,600 jobs from its U.S. workforce, writes columnist Herman K. Trabish. MidAmerican's wind projects in Iowa are slated to go online by the end of the year, making them eligible for the PTC, said Vice President of Legislative and Regulatory Affairs Jonathan Weisgall. Meanwhile, Vestas' announcement "shows the danger to U.S. manufacturing jobs if Congress waits any longer to extend the PTC," said American Wind Energy Association CEO Denise Bode.

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