Qualifying for Production Tax Credit Over Holidays
Working on wind projects, one of the important aspects that we understand is the production tax credit. Which is a critical driver for the underpinning and financing of these projects to ensure their success. We were called upon last year to support one of our clients on a 150-megawatt project where they had exhausted their resources to be able to find a local consultant to assist in getting the wind project qualified for the production tax credit. Which in order to meet the 100 percent qualification, that had to happen by the end of last year. So, we were asked to both assist in closing out the lease negotiations and get the production tax qualification. Which in this case, involved the construction of five turbine locations. It was significant because it was the middle of November and this had to be done by 12/31. So, we were able to leverage our relationships with key stakeholders out in Texas to be able to retain a consultant and get them to work with us over basically the Christmas holiday, up until December the 28th, to be able to get the turbines qualified for the production tax credit, together with closing out the lease negotiations with the landowner.