Western Wind Energy To Develop Solar Facilities

Posted by SI Staff on November 01, 2007 No Comments
Categories : FYI

Western Wind Energy says it is in the process of developing, with the intention of constructing, utility-scale solar energy electrical generating facilities in California and Arizona. The company's solar activities will fall under the control of a newly incorporated subsidiary called Western Solargenics Inc., which will be led by Michael Boyd.

The company says its initiative will be supported by its significant transmission rights in California and 100% ownership of substantial acreage, as well as an abundant water supply for solar thermal generation facilities. Moreover, a 30% up-front federal tax credit is available on the entire project to tax equity investors, plus accelerated depreciation allowing for substantial incentives to tax investors at the project level.

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