Wyoming Proposes Tax Credit Bonds to Attract Financing for Renewable Projects

February 25, 2006

The Wyoming Infrastructure Authority (WIA) issued a request for proposals on February 21 from companies interested in a partnership with WIA to secure tax credit bonds for construction of renewable energy projects. WIA will accept proposals for projects using resources from wind, biomass, geothermal, solar, small irrigation power, trash combustion, certain refined coal production, and certain hydropower projects. For details, see WIA's online announcements

The Energy Policy Act of 2005 authorizes $500 million Clean Renewable Energy Bonds (CREBS) for government agencies. The bonds serve as tax credits for the private-sector partners and provide as tax-free capital financing for renewable energy projects. WIA is an organization formed by the Wyoming Legislature in 2004 to encourage economic development in Wyoming through the expansion of the state's electricity transmission capacity. Since the renewable power projects would use the transmission capability managed by WIA, the agency will evaluate proposals that meet its criteria.

Source: February 24 edition of Wind Energy Weekly.