Vestas says renewed PTC 'critical' to keeping US wind in play

Vestas says the extension of the US production tax credit (PTC) is a “critical” step to sustaining America’s wind industry, but won’t affect the company’s broader forecasts for the year.

The world’s largest supplier of wind turbines says that although the last-gasp nature of the one-year renewal will lead to a “significant reduction” in installations, “the US market will nonetheless be stronger as a result of the PTC extension”.

It notes the fact that the wording of the renewal refers to projects entering construction by the end of this year being able to claim the incentive later.

However, the Danish group adds: “Vestas adjusted the company’s workforce in 2012 based on the PTC not being extended.

“The extension of the PTC does not…

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