Utah Governor Signs Renewable Energy Tax Credit Bill, Boosts Milford Wind Corridor Project

March 23, 2007

Utah Governor Jon Huntsman, Jr. signed a bill on March 14 that creates tax credits for renewable energy and energy efficiency projects. His approval paved the way for UPC Wind Partners' Milford Wind Corridor project, which will be one of Utah's largest wind farms. The tax credit was part of Senate Bill 223, a comprehensive tax bill that makes far-reaching tax changes in the state.

In a press release dated March 19, UPC Wind referred to the new law as one of two major milestones reached for the Milford Wind Corridor Project, to be located about 100 miles southwest of Salt Lake City. The other milestone was completion of a 20-year, 200 megawatt (MW) power purchase agreement with the Southern California Public Power Authority.

The project is expected to include 80 wind turbine generators and is slated for completion in December 2008. The company stated that the facility will contribute significant property tax revenues and royalty payments to landowners while diversifying the employment base within both Millard and Beaver Counties where the project will be located.

UPC Wind was formed by principals of UPC Group, a wind power company. UPC Wind focuses on the North American market, developing more than 3,000 MW of wind power projects through various subsidiary companies.

For more information, see the March 19 UPC Wind press release.

Source: March 23 article in SNL Energy Renewable Energy Week

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